Hyatt Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Hyatt analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Hyatt marketing mix, help the brand succeed in the market. Let us start the Hyatt Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Hyatt Product Strategy:
The product strategy and mix in Hyatt marketing strategy can be explained as follows:
Hyatt hotels is one of the leading premium hotel chains in the world offering luxury hospitality services to customers. Founded in 1957 Hyatt believes in offering authentic services to every customer by fulfilling and catering the needs of their guests efficiently. One of the leading hotel chains which promise luxurious service and authentic hospitality. Other facilities & services as a part of their marketing mix offered by them are Spacious rooms, banquet halls, gardens, Bars, restaurants, a wide range of food with delicious cuisines.
All its employees are well trained and provide high Customer satisfaction. Hyatt Zika and Zilara are the exclusive resorts by them.
Image: Wikimedia
Hyatt Price/Pricing Strategy:
Below is the pricing strategy in Hyatt marketing strategy:
Hyatt is focussed upon leading the market by providing the best of the services and products in all luxurious manner. A dedicated team works where researchers offer their opinion on all the things working around in the company which meets the requirement of both the guests and the company itself as well.
Hyatt hotels focus on premium pricing strategy for its products as they cater to high profile business class and upper class of the society. The same strategy has proved to be a successful one as the customers are ready to pay the money for the services being obliged. Hyatt hotels also give discounts on group bookings or the extended stays. Apart from this free meals, complimentary suites and other lucrative and feasible deals are also provided which is fancied by the customer.
Read more about Hyatt
Hyatt Place & Distribution Strategy:
Following is the distribution strategy in the Hyatt marketing mix:
Having presence across the worldwide, Hyatt hotels & resorts have their headquarters at Chicago in U.S.A. whereas, the first Hyatt House was built at Los Angeles International airport. Post this they have established 679 properties under the same brand association. They are present in 56 countries prominent ones being in Atlanta, Beijing, Boston, Chicago, Hong Kong, Manila, Mumbai, San Francisco, Seol, and Tokyo. Hyatt is the owner and operator of the franchise system. It also has a Central reservation system in countries like U.A.E, India, Germany, Australia, etc. which offers 24*7 service to all the guests and other customers.
Hyatt also has several tie-ups with various travel agencies majorly online who recommend a stay at any of the above resorts and hotels to the potential customers.
Hyatt Promotion & Advertising Strategy:
The promotional and advertising strategy in the Hyatt marketing strategy is as follows:
Hyatt uses man media channels to ensure customers are aware of their hospitality services. Talking about the promotion and market strategy, Hyatt have specially designed to build and maintain positive awareness, and brand value is it by word of mouth or by any other means. This has been achieved Hyatt gaining high customer satisfaction and providing excellent Customer Relationship Management. They also several discounts and festive schemes which benefit to a certain extent to the customers. They reward loyalty to regular clients by their signature membership cards known as Hyatt Gold Passport accepted globally which fetches them extra discounts and additional perks. They also believe in their tagline which is "We are for People" where they can be their best and are welcomed with a huge heart. Guests or customers at Hyatt are their best advertising mediums because they usually do word of mouth publicity and they come to the brand ambassador, as high services prompt the guests in hotel promotion through mouth publicity.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Hyatt Hotels.
People:
Hyatt hotels is known for its exclusive services to its customers, which is given by its well trained staff. People involved in the hotel industry is the main source of revenue generation because the hotel staffs are the service providers to the customers. In this case, Hyatt hotels has maintained the standard to provide world-class services to its customers. It always recruits staffs and employees by their knowledge and experience and moulds them according to the company guidelines by providing proper training sessions, workshops, and seminars. People who witness and experience the service are the most important people in the company because the service provided by Hyatt usually decides that the customers would visit the respective hotel again or not.
Process:
Hyatt hotels is known for its world-class luxurious services, and a sophisticated process does it. The customer can either book the rooms and services from the website and mobile application or by going physically to the hotel. In hotel, there is a proper reception service where the customers need to verify themselves by giving valid government identity proof and after that everything is done automatically.
Physical Evidence:
Hyatt hotels and resorts are the biggest physical evidence themselves ie rooms, banquets halls, gym, swimming pool etc. The ambience and interiors of the hotel are classy and world class. The look of the interiors of the hotel is vintage as well as new. The proper arrangements of sofas, reception desks along with interior decoration make the reception area looks out of this world. The employees and staffs are also well dressed and groomed to give an excellent visual satisfaction to the guests. The experience of the interiors of the hotel is luxurious, and travellers from different countries pay to experience its services. This gives an insight in the marketing mix of Hyatt hotels and resorts.
About Hyatt:
The Hyatt Hotels and Resorts is an MNC belonging to America, which was Founded in 1957. Hyatt believes in offering authentic services to every customer across the world.
Associated with hospitality and tourism industry, it is a public company which has its hotels and resorts worldwide. Their target group is affluent travelers, business men, corporate houses and other potential premium customers.
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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