The paper "Banyan Tree Hotels and Resorts Service Marketing" is an outstanding example of a marketing case study. In the contemporary world, most economies are anchored on the provision of services. However, marketing of services is a bit tricky for the marketer due to its inherent characteristics. These characteristics include their intangibility, lack of ownership, perishability, heterogeneity and inseparability. This paper uses The Banyan Tree Hotel and Resorts in analyzing the aspects of the service element while evaluating the strengths, weaknesses as well as areas of improvement s that service marketing should incorporate.
Started in the 1990s, BTHR is now a leading player in the luxury resorts market not only in Asia but also globally. Its growth strategy has included the launching of new brands as well as brand extensions including spas, resorts, galleries and museums. As such, brand portfolio management is important for BTHR so as to preserve its distinctive identity and the strong brand image while expanding its market. This paper will, therefore, illustrate how BTHR has built a strong brand despite its little advertising using its environmental and social responsibility practices.
The paper will then suggest how BTHR and indeed other service businesses can remain relevant in the market despite expanding to new markets and the ever-increasing competition. The success factors for Banyan The industry in which Banyan operates is a service industry despite being a very competitive one. Succeeding in a service industry calls for a lot of effort since service is not tangible unlike a good. As such, service quality and brand differentiation are key to succeeding in a competitive service industry. There are many factors that have led to the success of Banyan resorts; Banyan’ s Choice of target segment is a key factor for its success.
Banyan recognized the price gap that existed in the luxurious resort market and hence was developed to feel this gap. As such, Banyan initially faced no competition since it was in a segment of its own. Serving the middle upper-class consumers initially without having to compete was a critical factor for its success (Lovelock, et al. 2011). This coupled with constant innovation has made BTHR into what it is today. It should be noted that since its inception when it coined its original concept of villas for individual guests, Banyan Tree Hotel and Resorts limited has continued to be innovative in a bid to improve its offering.
As such, Banyan offers superior feel and superior service quality to the guests and ensures that its unique traditional spa treatments remain part of the menu. These innovations provide the guests with unique experiences not to be found anywhere else. This is a key factor for its success. Banyan Tree Hotels and Resorts limited undertakes aggressive internal marketing hence ensuring the brand is felt far and wide.
Initially, the company hired an international marketing agency to market itself. The agency helped it develop its logo as well as developing its marketing tagline of “ sanctuary for senses” . After the company acquired considerable recognition in the industry, the company changed its focus to internal marketing. This has seen everyone in the company own the brand which motivates them to offer high service quality. In addition, the company undertakes external marketing but any external marketing undertaken has to be strategic.
This has been a key factor in Banyan’ s success. Banyan’ s positioning and branding strategy have also been instrumental in its success. Banyan positions itself as a “ sanctuary for senses” while designing itself to provide a feeling of the romance of travel and the beauty of discovering the world. This is instrumental in ensuring BTHR’ s success bearing in mind that most guests travel to be away from the modern-day hectic normal lives.
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