A target market consists of a group of consumers for whom a particular product with some specific features would hold more value. Every company analyses its target market thereby facilitating their growth in the market. The present report represents, the strategy behind the targeted markets of the Starwood- Marriott alliance Groups of Company. In this study the rewards program that were taken up by the Marriot Groups thereby analysing their impacts. The determination regarding who won, who lost and what would be in the future of the rewards program’s impact that are conducted by the Marriot Groups have been discussed in this paper. A comprehensive review has been provided on the Marriot Worldwide Rewards Company that has been launched by the Marriot Groups in September 2016.
This American based multinational Company; The Marriot International Inc. is an intensively diversified hospitality company. This is a large group of industry which was founded in the year 1927 and has its headquarters at Bethesda, Maryland. A wide portfolio of hotels and other facilities that are related to lodging are managed and franchised by this Company. The company has its property in about 110 countries worldwide and the property of the company is even more than 5700 that includes about 1.2 millions rooms approximately (Thomas, 2015)
The company of Marriot International Inc. and the company of Starwood Hotels & Resorts Worldwide unanimously have approved on a decision of merger agreement. This combination would create the largest hotel company in the hospitality industry of the world. In this transaction of the companies, the leading international footprints and leading lifestyle brands are combined with the luxury and select- service tiers of Marriot (Marriott News Center. 2016). The company as an individual were a separate entity with a large portfolio and when combined the operation level of both the companies would franchise even more than 5500 hotel worldwide that would provide for even more than 1.1 million of rooms. The revenue for the both combined companies was more than $2.7 billion for the year ended 2015 (Gustavo, 2013).
Figure 1: A handy diagram made regarding the takeover
(Source: Gustavo, 2013)
Marriott International wants to provide its customers with better services along with maintaining the loyalty of the customers. With a view point of customer’s loyalty, the Marriott Company introduces different rewards campaign for its customers. Amongst the entire award winning loyalty programs of the Marriott international is the worldwide rewards campaign that the company launched in the year 2016, September. The company launched its new marketing campaign that was designed to raise the level of awareness of many of the brands of the company specially targeting the younger travelling group of the society. This campaign for the company was designed by Grey New York and it featured a TV Spot of 30 sec that would debut during the football game broadcast of the New York Jets-Buffalo Bills. This ad has been specially designed with the events for the loyalty program members and has the tagline of “You are here.” The company’s this rewards campaign of the company is different from its other campaigns. In this campaign the company focuses on connecting the customers with the brand name emotionally however, in the previous campaign it just was shown how the loyalty program worked (Cantallops & Salvi, 2014).
Apart from the television ad there are also some other aspects of this campaign that includes of the digital magazine of the company where the travellers share their stories, usage of the social media such as the Facebook, Instagram and many other. The number as in compared with the previous the loyalty program member of the company increased around 13.1 percentages this year (Yoo & Bai, 2013). This is assumed to have taken place due to the rewards programs that the Marriott has taken up in the September. In the same year Marriot experienced even more number of increasing members for the rewards program. Due to this merge of the Starwood and the Marriot and the rewards program that the company has undertaken, the presence of the company in the lucrative regions such as Asia, Africa and others would be doubled up.
The valuation points of Marriot are around $8.92 per 1000 points. This is still the highest level of concentration of the affordable hotels brands in the portfolio of Marriot. This implies that the members of the company only need to spend just an average of around $2000 for getting a free night at Marriot. Whereas, in comparison to the Starwood, it implies that the Starwood members need to spend roughly an average of around $7000 (Yoo & Bai, 2013). This states that the Marriot Company offers services to its members at comparatively lower amount and therefore, this a strategy through which the company is achieving its targeted markets by having more concentration in its hotels. However, the merging of the two best companies of their field would result in the increase in the membership size of the merged companies of the Starwood and the Marriott. This merging would also result in more booking from the targeted markets and the achieving of more profits as this would then steal the share of bookings that are done by the outsider third party (Yoo & Bai, 2013).
The above study is based on the merging of the Starwood and the Marriot Company and the rewards programs that have been undertaken for it by the two companies. The rewards program of the company and the Marriot worldwide Worldwide Rewards campaign that was held by the Marriot Company in order to encourage its loyalty members have been discussed in this research study. The targeted market groups of the Marriot Company have been discussed and how the Company achieves its targeted market has also been mentioned. The targeted groups of the company is identified and specified. The strategies that have been taken up by the Marriott Company for achieving the attention and the value from its targeted markets have also been mentioned.
Cantallops, A. S., & Salvi, F. (2014). New consumer behavior: A review of research on eWOM and hotels. International Journal of Hospitality Management, 36, 41-51. DOI No. : 10.1016/j.ijhm.2013.08.007
Gustavo, N. (2013). Marketing management trends in tourism and hospitality industry: Facing the 21st century environment. International Journal of Marketing Studies, 5(3), 13. DOI No. : 10.5539/ijms.v5n3p13
Marriott News Center. (2016). Marriott Rewards Launches Global Portfolio Marketing Initiative to Showcase Diverse Hotel Brands and Member Benefits - Marriott News Center. [online] Available at: https://news.marriott.com/2016/09/marriott-rewards-launches-global-portfolio-marketing-initiative-showcase-diverse-hotel-brands-member-benefits/ [Accessed 28 Nov. 2016].
Thomas, L. Y. (2015, January). The International Council of Hotel, Restaurant, and Institutional Education (ICHRIE), San Diego, California, July 30–August 1, 2014. In Journal of Convention & Event Tourism (Vol. 16, No. 1, pp. 11-15). Routledge. DOI No. : 10.1080/15470148.2015.1000751
Yoo, M., & Bai, B. (2013). Customer loyalty marketing research: A comparative approach between hospitality and business journals.International Journal of Hospitality Management, 33, 166-177. DOI No. : 10.1016/j.ijhm.2012.07.009
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