Published by MBA Skool Team, Last Updated: August 15, 2021
Marketing Strategy of Marriott analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Marriott marketing mix, help the brand succeed.
Marriott marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Marriott Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Marriott Product Strategy:
The product strategy and mix in Marriott marketing strategy can be explained as follows:
Marriott is one of the most recognized luxury hotel chains in the world. For Marriott the core product in its marketing mix is in the form of hospitality services. It divides its services mainly in the 3 parts: core, actual and augmented which comprises of different services like Hotels, Hospitability management, Resorts, lodgings etc. Among all of these the maximum revenue is generated by their core product i.e. hotels which all the way depends on how to satisfy customers’ needs and wants. Among the hotel as a product it is further subcategorized into different brands such The Ritz-Carlton, St. Regis, JW Marriott, BULGARI, Le MERIDIEN, Westin, Renaissance hotels, Gaylord hotels, Courtyard hotels, Fourpoints, Spring hill suites etc. Each brand is unique in its own style and theme which makes it recognizable in comparison to other. More or less Marriott has almost same concept for all the brands but they used the same concept with the location, environment and according to convenience of customers which made Marriott so successful all across the world. Due to the pandemic in 2020, the revenues of the company fell, but they improved their services by better disinfection, social distancing & sanitization.
Marriott Price/Pricing Strategy:
Below is the pricing strategy in Marriott marketing strategy:
Marriott’s hotels price varies with different hotels, customers and location.
Their primary motive is to deliver the right product at the right price with the best services. Marriott determines the prices of their hotels by keeping the value with quality framework satisfied and also the pricing strategy is maintained in such a way that without losing their brand name Marriott is able to maximize their revenue. Hotels prices also varies on the customer demand and also to maintain the cost incurred in promotion and maintenance. Marriott products price also follows a competitive strategy that their prices also varies according to the change in the situation and competitor’s behavior.
Following is the distribution strategy in the Marriott marketing mix:
Marriott has established itself in more than 100 countries all across the world and its hotels are also located in various places across the city like near airport, highways, near central market etc. Being location specific give Marriott an advantage to attract customers like the business people will be acquiring hotel near airport while the travelers will love to do night stay in hotels near highways and tourists in the city near market so that it is easily accessible. For the growth of its hotels Marriott has also adopted a mix channel strategy which consist of both direct channel and third party channel. This enhances the speed in maintaining the inventory across the different infrastructure and reducing the overall costs.
Generally in choosing a distribution strategy looks for parameters like maximizing revenue, maintaining consistent growth, delivering adequate services to customers at the correct price which is worth the value and also operates profit.
Marriott Promotion & Advertising Strategy:
The promotional and advertising strategy in the Marriott marketing strategy is as follows:
Marriott totally focuses on the digital promotion of their products. Being an international brand they has created a website which clearly showcase all of their products in a very good detailed manner and also allows users to pre-book the rooms in hotels with easy procedure. It do its promotion with different advertisement, videos and campaigns on different social media sites. For its loyal guests, the company has the Marriott Bonvoy customer loyalty program which offers special benefits. Marriott tries to maintain its loyal customers by coming up with different promotional schemes and also attract new customers with the marketing of new products.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Marriott.
Marriott knows the importance of serving its guests, which is the basic people strategy of the brand. The company has more than 100,000 employees world-over. While delivering any services the staff which is delivering the services is very crucial in order to gain the trust of the customers that’s why in Marriott their staff are consistently trained and been motivated to deliver the outstanding services which outstands the expectations of customers.
Marriott has several business processes in place to ensure quality customer services, efficient bookings and a comfortable stay for customers. In order to keep their customers always satisfy Marriott works with a transparent process which is very easy to see, judge, operate and is user friendly right from the online booking of rooms to the check-in and check-out is done in a pretty well versed way.
Marriott hotel buildings and resorts are the biggest physical evidence for the company. Services are mainly intangible but Marriott gives their customers a great ambience with a lasting physical experience which itself makes customers to return back and retain that experience. Other physical objects of the brand Marriott are their towels, booklets, pens, soaps etc. Hence this gives an insight in the marketing mix of Marriott.
Marriott Corporation which split in Marriott international & Host Marriott Corporation in 1993 is ruling over the hospitability industry from last 90 years and with a headquarter in Washington it has more than 6000 properties in more than 100 countries all across the world. Recently in 2015 for the further expansion of its market outside US, Marriott has acquired Resorts worldwide and Starwoods hotel. For the growth Marriott follows partnership approach by creating different franchisee with different benefits and incentives which helps the partner itself in achieving their objective. With the acquisition of Starwood, Marriott has extended its loyalty program to the unparalleled stage which consist of more than 100 million customers who actually help in generating revenue from more than fifty percent of their rooms all across the world. The Marriott hotel in Dubai has also been once recognized by the Guinness World Records as the world’s tallest hotel. Marriott is also known for its cutting edge in the innovation.
It was Marriott and Starwood who were the first one to come up with the innovation like hotel check-in through mobile, heavenly bed and keyless entry. Marriott also monitors its facilities in a great way and maintain the services to a premium quality.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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