...diamond system and what it would take to upgrade vs. the effectiveness to our international market. This report will include the following information: · Star vs Diamond : The Diamond Rating Defined · Importance of Five Diamond and luxury branding in industry · Areas to be evaluated by Hotel Bienvenue to upgrade rating to Five Diamond · Expected Benefits to be obtained as result The Hotel Bienvenue has been respected for years as a Four Diamond hotel. Its recent drop in revenue and guest room nights has shown to be a cause for concern by the management team. This report will highlight the diamond rating system currently in place and also define the steps for us to rebrand as a Five Diamond resort, as well as discuss the benefits being received by current brands of same rating– in particular, The Ritz Carlton Reynolds Plantation - to maximize brand strength and revenue on a global scale. Star / Diamond Rating System: Mobil Company is responsible for the “star” rating whereas AAA (American Automotive Association) is home to the Diamond Rating system. Whereas both as credible, the standards are pretty much the same and the only difference is that AAA rates and has almost 3 times the amount in the portfolio of AAA which has most of Mobil’s properties listed on diamond tier ratings as well. Almost anywhere in the world you go today for travel, there is a report or website with feedback on the “rating system” of a hotel and its customer feedback. AAA (American Automotive...
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...THE LUXURY CONSUMER IN THE NEW DIGITAL WORLD: THEN & NOW 201 Four Seasons Luxury T 2 rend Report Luxury Trend Report | 1 The global luxury landscape and the luxury customer have evolved dramatically over the last tumultuous and transformative three years. The advent of unprecedented new technological innovations, coupled with the increased skepticism left over from the global financial crisis, mean that today’s consumers are demanding honest, accurate, timely and engaging information. They are looking for intrinsic value and a deeper relationship with the brands with whom they choose to support and interact. According to The Affluence Collaborative1, a research powerhouse that dives deep into the habits of high-income consumers, the affluent2 seek out companies and brands that can simplify and improve their lives. In the travel sector, this translates into increased expectations around personalization cutting across all touch points – including digital media platforms – as luxury travellers research, purchase, engage in and reflect upon their travel experiences. The Luxury Traveller Technology Survey3, commissioned by Four Seasons, coupled with leading luxury market research and brand insight, sets out to uncover how consumers want technology to blend seamlessly into their experience, and how those preferences have changed in recent years. strong performance in China and Latin America, are driving growth in the sector. All combined, the global luxury market is expected...
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...Applied Topic #1 Corey Ferrell Principles of Micro-Economics Instructor: James Pirner This paper was prepared by Corey Ferrell for Principles of Microeconomics, ECON 212, on July 28, 2014 Applied Topic: Apple IPhones I have chosen to make my product of interest the Apple IPhone. Smartphones have invaded and replaced many devices, items and functions that required more than the use of these small renowned devices. Smartphones have supplanted several items: Books (Kindle, iBook), daily newspapers, digital and film cameras, dictionaries, scanners, GPS, road maps, voice recorders, grocery list, iPods, radios, etc. and this list is forecasted to continue to grow as smartphones are developed to include more. This will include items such as: loyalty cards, credit and debit cards. (MIT Technology Review) In 2012, 80% of humans own a mobile phone states Anson Alexander, creator of ansonalex.com, and 91.4 million smartphones used in the United States. Even though 5.1 billion mobile were said to be owned in the world, that 1.08 billion are Smartphones. The market share in 2012 involved 4 major competitors: IPhone, Android, Microsoft and Samsung, and all four have a large audience with the 24-30 age group. 2013 showed only an increase in the Smartphone appetite. I will be focusing on the Apple’s IPhone, due to its strong presence in the market along with a nearly market stealing uniqueness. One factor in the number of IPhones sold per year is the idea that demand was so high...
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...Perceptual Map 5 Integrated Marketing Communication (IMC) 6 Conclusion 4 References 4 Introduction Executive Summary The initial part of the report compares Shanghai Tang with 2 others luxury ready-to-wear brands in the western market, namely Chanel and Dior. It discusses the demographic and cultural environmental forces faced by Shanghai Tang when competing with other luxury ready-to-wear brand in the western market followed by a SWOT (Strengths Weaknesses Opportunities and Threats) analysis to identify both the internal environment (strengths and weaknesses) and external environment (opportunities and threats) that Shanghai Tang is facing. Through the SWOT analysis, we came up with a recommendation to either defend or expand Shanghai Tang’s market position. Secondly, a product expansion grid was used to discuss the possible strategies Shanghai Tang can adopt for expansion. The product expansion grid was also used to determine business growth opportunities. It consists of four quadrants, each representing one strategy. The four strategies are Market Penetration Strategy, Market Development Strategy, Product Development Strategy and Diversification. The last section of the report identifies Shanghai Tang’s current...
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...WORD COUNT 2,200 1.0 Introduction This report is based around The Lakes Hotel, an independent luxury hotel situated in the Lake District. The report will analyse the structure and culture of the hotel. It will also evaluate the roles that organisational structures and cultures play within organisations and the internal and external environmental factors that impact on such. Key tourism and management theories will be used in these evaluations, and comparisons drawn with The Lakes Hotel. Findings will be applied to both the hotel scenario and that of tourism in general. 1. Background to the Case Study The Lakes Hotel is situated on the shores of Lake Windermere. Craig and Sally Elliot have owned the hotel for the past 10 years. They are also the general managers of the hotel. This report will look at the organisational structure of The Lakes Hotel, and decide how it fits into such models. The command structure will also be analysed in order to determine the effectiveness of the methods used by the hotel, in comparison to other methods available. 1.2 Report Structure and Aims The ‘Findings’ section of the report will be split into two categories – organisational structures and organisational cultures, each analysed theoretically and specific to The Lakes Hotel, using a variety of tourism and management theories and models. The aim of the report will be to provide a clear and concise account of what organisational cultures...
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...work and contains no material which may have been used for the award of any degree or diploma in any institute, college or university. Moreover, to the best of my knowledge and belief, it contains no material previously published or written by another person, except where due appropriate reference is made.” YAO Feng Table of Contents INTRODUCTION 3 Aim & Objectives 3 Limits of research 3 Methodology 3 SEGMENTATION 4 Market Overview 4 Market Segments 4 TARGETING 6 Segment Strategy 7 POSITIONING 8 Product and branding strategy 8 Pricing 14 Promotion 15 Marketing Channels 16 CONCLUSION 16 REFLECTIVE COMMENT 16 REFERENCES 18 APPENDICES 20 INTRODUCTION In the following report I would like to focus on Marriott International, Inc. (NYSE:MAR), a leading lodging company with over 3,100 lodging properties in the United States and 66 other countries and territories (Marriott International, Inc. Corporate Headquarters, 2008). My key task is to critically analyze the segmentation, targeting and positioning strategies of the company with the following brands: “Marriott Hotels & Resorts” and “Courtyard by Marriott” in the same marketplace, Asia-Pacific. Aim & Objectives Find out the overall marketing concepts and principles the company applied. Analyze the segmentation the company used and the markets they targeted. Compare the different hotels of variable brands; describe the positioning used for them. ...
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...The Power of Imagery in Consumer Culture Keshini Namasivayam 500556528 Ryerson University FSN 503 Bernie Murray Wednesday, November 11th, 2015 The Power of Imagery in Consumer Culture The twenty-first century is a time period in which consumer culture is a dominant force in society. Through visual tactics, retail brands are able to persuade individuals to embody the lifestyle culture that their brand represents, which subsequently leads consumers to purchase their products. Through powerful advertisements brands are able to evoke thoughts and emotions into our subconscious, which lead us to conform. The root of consumerism lies in the fact that “our capitalist society is dependent on the overproduction of goods, so increasing desire for goods is a must” (Sturken & Cartwright, 2009, p. 267). Through advertising, brands use tactics that make the individual feel they can connect to the brand. Consequently, the individual then feels a sense of desire for the product. This paper will analyze five concepts that are used by popular brands including product association, commodity fetishism, lifestyle promotion, sex appeal and cultural appropriation. Product Association Figure 1. Godiva chocolate advertisement. Figure 1. Godiva chocolate advertisement. Often, without our realization, our values and perceptions are being influenced to fit a certain construct. All of a sudden we feel that mere a physical product can define who we are. Brands build a culture in which...
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...Overall strategy of LVMH LVMH’s website states the following as their missiom statement, “The mission of the LVHM group is to represent the most refined qualities of Western ‘Art de Vivre’ around the world. LVMH must continue to be synonymous with both elegance and creativity.Our products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy. “ In 1987, Racamier agreed to a merger with Moët Hennessy, a company that was much more larger than LV, to form the Moët Hennessy Louis Vuitton group. Bernanrd Arnault, ranked as the fourth richest man in the world ( by Forbes, 2007) , was invited to invest in LVMH by the company’s chairman, Henri Racamier. Investing through a joint venture, Arnault ousted Racamier in 1990 and started to sweep a slew of fashion companies into the LVMH fold. Arnault is the chairman and Chief Executive Officer of Lvhm since 1989. Moët Hennessy-Louis Vuitton (LVHM) ; a world leader in high-quality products, possesses a unique portfolio of over 60 prestigious brands. The Group is active in five differentsectors: -Wines & Spirits -Fashion & Leather Goods -Perfumes & Cosmetics -Watches & Jewlery -Selective retailing First of all, the target audience is comprised of well to do individuals with high disposable incomes. Demographics of this target audience have some variability based on cultural differences in different geographical locations. The target audience is relatively focused...
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...CHAPTER 1 INTRODUCTION 1.1 Background of the topic In the early 1990s, the market of luxury goods had been increasing in sales. The Boston Consulting Group estimated in the year 2005 worldwide luxury product sales would be $ 840 billion (Truong, Simmons, McColl, & Kitchen, 2008). The reasons for increasing sales were the recovery of thw economy and quality and productivity were improving (Truong et al., 2008). From a few years ago up to now many countries in Europe have been affected by the economic crisis, the U.S. had a recession, and Asia (Japan) had an earthquake (Max Colchester, Wall Street Journal, July 29, 2011),(Melendez, 2011) Because of these problems luxury brand products should have been affected an lost sales in the world market. However, LVMH reported a 20% sales increase from the last quarter of the year, Gucci increased 22% in sales reported last week (Christina, 2012). This is the opposite of what we would have expected. The increase in sales of global luxury brand in the market shows the trend of current consumers which are younger than the older consumers of the past (Twitchell, 2002). More and more people buy luxury brands, not just working people but also students. 1.1.1 Asian demand for luxury product The Asia market has a high potential for growth and strong demand (Colchester, 2011).This is because the economy in Asia is good and has been getting better and better for many years. China, economic growth rate in 2011 was 9.2%,...
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...Harvey Nichols Strategic Marketing Plan for Norfolk [Name] [Class/Course] [Date] Mission To establish outlets in Norfolk so that the company’s high quality luxury clothing and other products will become accessible to the people of Norfolk and other parts of East England. The company wants to bring closer to the people of Norfolk the high quality products Harvey Nichols offer to its customers around the world. Ambition To provide the people of Norfolk in the eastern region of England with high quality luxury clothes and inspire the region’s residents to become highly fashionable. Financial Objectives The company aims to establish up to three outlets in the next three years in Norfolk, Eastern England with an objective of garnering at least 10% of the market in the county. In financial terms, the outlets are expected to contribute significantly in the company’s revenue and profit-generation. Market Audit Norfolk is a shire county in East England with an estimated population of 840,700 (Norfolk County Council 2008). It is the fifth largest county in England exhibiting the fastest growth in population. The county has seven local districts, the three biggest of which in terms of population are King’s Lynn and West Norfolk, Norwich and Breckland. Norfolk is governed by a county council dominated by the Conservatives. Norfolk’s main industries are agricultural production and food processing. These industries compose the bulk of employment in...
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...Cadillac asked me what I wanted in a car and delivered to my door. The Cadillac CTS Sedan’s sexy, elongated; low, sharp design has theatrical angles from front to back. In regard to the CTS Sedan, Cadillac notes, “No detail overlooked. From its signature LED lighting to its ingenious lightweight aluminum doors to its remarkably powerful engines, every gram of material in the CTS had to justify its existence” (General Motors, 2015). The attraction is not just manifested in one Cadillac model, but all their models. This is why the Cadillac brand is so highly sought after –desired. Owner’s of Cadillac (new and used) take pride in owning a Caddy because brand believes they deserve the best. The Cadillac brand offers owners of their luxury car benefits such as the following: • Premium Care Maintenance • Warranty Protection • Roadside Assistance • Courtesy Transportation • OnStar Services: o Emergency o Security (GPS...
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...PORSCHE CASE “Porsche-a brand with heritage” A brand is a product but adds other dimensions that differentiate it in some way from other products designed to satisfy the same need. For the last 50 years Porsche is on the list for prestigious, premium, luxury brands with high percentage of awareness and loyal customer and behind strong brand stands successful branding strategy, strategy that Porsche have implemented through the years and strategy that brings amazing results among this large period since the beginning of Porsche as product and then premium brand. The management team of Porsche succeed to create brand value and to convince the customers that there are meaningful differences among brands in the product. Porsche possess a unique brand personality which sets him apart of the competition. It has everything that one successful brand should have; powerful brand name, recognizable symbol and logo, premium price, high awareness and loyalty that provides predictability and security of demand for the firm and creates barriers to entry that make it difficult for other firms to enter the market. Loyalty also can translate into a willingness to pay a higher price. Beside all of the elements that we can see, there are many components ,under the surface related to the brand, that make him strong and powerful, like ; high quality, efficient production and effective selling, strong R&D and so on. The brand image and core values of Porsche can be described with these three...
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...Book Report The Hunger Games written by Suzanne Collins, appears to be your average teen romance trilogy, but upon second glance one realizes that this is not the case. Collins writes about a future nation that requires its children to kill each other as a form of entertainment for the people of the Capitol. The plot makes for a very exciting story line, but as the reader one cannot help but wonder what message Collins is trying to get across. Does she believe that if we continue down the path that society is currently taking we will someday face a world similar to Panem? That this fiction could someday become a reality on certain levels? Within these novels, Collins includes several important themes, including: corrupt politics, starvation vs. greed, and the obsession with entertainment. Sixteen-year-old Katniss Everdeen lives in the nation of Panem, a post-apocalyptic North America, with her mother and younger sister, Prim. Her family resides in District 12, the poorest of 12 districts ruled by the wealthy Capitol. Katniss provides for her mother and sister by hunting with her friend Gale in the forbidden woods nearby. As punishment for the districts' rebellion attempt years earlier, the Capitol holds an annual televised event called The Hunger Games. Each district must draw the names of a boy and girl between the ages of 12 and 18. These 24 youths become contestants, called tributes, who must fight to the death in a vast arena created by the Capitol Gamemakers. The lone survivor...
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...The New World of Luxury Caught Between Growing Momentum and Lasting Change Jean-Marc Bellaiche, Antonella Mei-Pochtler, and Dorit Hanisch December 2010 The New World of Luxury Caught Between Growing Momentum and Lasting Change T he luxury goods industry seems to have shrugged off the damage done by the Great Recession faster than many people expected. Companies remain cautious about the outlook for growth, but major brands recently reported strong gains in revenue and profit, defying all the signs of a difficult market, including weak consumer confidence, increased savings rates, and lingering doubts about the stamina of the recovery. But these signs of a revival do not augur a return to business as usual. The Great Recession was more than a drag on demand. It was the tipping point for several trends—including profound changes in consumer behavior and the competitive landscape—that threaten to erode the mystique of luxury. In this new world of luxury, being iconic and exclusive is not enough to make a brand grow, and fewer consumers are willing to blithely accept high prices as the mark of luxury. They need better reasons to buy. To respond to these changes, luxury goods companies will need to resolve conflicting priorities in every major aspect of their business: target markets, consumer segments, product portfolios, and distribution channels. Companies that skillfully manage these tensions will find opportunities for growth in both mature and rising...
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...Iowa State University Digital Repository @ Iowa State University Graduate Theses and Dissertations Graduate College 2014 A review of studies on luxury hotels over the past two decades Yin Chu Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/etd Part of the Advertising and Promotion Management Commons, Business Administration, Management, and Operations Commons, Home Economics Commons, Management Sciences and Quantitative Methods Commons, and the Marketing Commons Recommended Citation Chu, Yin, "A review of studies on luxury hotels over the past two decades" (2014). Graduate Theses and Dissertations. Paper 13913. This Thesis is brought to you for free and open access by the Graduate College at Digital Repository @ Iowa State University. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Digital Repository @ Iowa State University. For more information, please contact hinefuku@iastate.edu. A review of studies on luxury hotels over the past two decades by Yin Chu A thesis submitted to the graduate faculty in partial fulfillment of the requirements for the degree of MASTER OF SCIENCE Major: Hospitality Management Program of Study Committee: Liang (Rebecca) Tang, Major Professor Tianshu Zheng Fatma Baytar Iowa State University Ames, Iowa 2014 Copyright © Yin Chu, 2014. All rights reserved. ii TABLE OF CONTENTS Page LIST OF TABLES ....
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