Conceptually, Marriott believes that the same guest falls into a different customer profile depending on the nature of the trip taken. Marriott has a product for every price point chain-scale (as defined by Smith Travel Research) except for the lowest economy segment. The company's commitment to quality and steady brand building has resulted in a strong brand portfolio of hotels, vacation ownership and corporate housing brands that associate quality, dependability, integrity and trust with the company's services. In 2005, Fortune Magazine recognized Marriott as the most admired company in the lodging industry for the sixth consecutive year. The company's strong brand name and its unique brand strategy help the company to stay ahead of its peers.
Thought Leadership in Technology-Enabled Services
The company's increased focus on technology is also paying off, as Marriott bolsters its web-based services portfolio. The company's reservation and yield management systems have outperformed the industry for many years. Marriott has the largest, fastest, most user-friendly web site in the industry, Marriott.com, which attracts almost six million visitors every month. Furthermore, the company is able to provide the industry's lowest cost per reservation and lands cross selling opportunities that bring almost $400 million worth of annual revenue. Customer demand for technology is rising as well, and the company is responding to this demand. With high-speed internet access in virtually all its hotels, and nearly 2000 hotels offering Wi-Fi, Marriott leads the industry in keeping its customers connected.
Weaknesses
Over dependence on the U.S. market
One of the key weaknesses of the group has been its over dependence on the U.S. market. The U.S. region accounted for around 90.4% of the group's total revenues. This over dependence has hurt...
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