The Launch Of Banyan Tree Hotels Marketing Essay

The Launch Of banyan tree corner Hotels Marketing seeBTHR first saw a gap in the luxury resort market in Phuket, and want to tap into this market with a value proposition of a pension but affordable luxury resort. St scoregic check management was thus vital. Having targeted a niche market, banyan tree Tree had the first-mover advantage amongst its competitors. unless it was its consistency in delivering its brand promise that led to word-of-mouth recommendations on Banyan Tree find out spreading quickly.Also, to guarantee consistency and continuity in brand get oning, BTHR centralised its long-term marketing strategy and even allocated marketing budget to both its consumers and wholesalers. Likewise, BTHR made an effort to maintain good relationships with the governments and local anaesthetic communities, which contributed to its vigorous brand in Asia.Within a couple of years, BTHR was awarded numerous international awards and accolades, and it effectively capitalised on these awards and accolades to take a shit its brand equity quickly. rich With its careful brand management and consistent brand delivery to its guests, brand loyalty was created. This enabled a premium charge and made international expansion possible. Moreover, its first-mover advantage made it snarly for its rivals to match its success.Rare Being the first resort to provide a luxury accommodation with romance, intimacy, hiding and rejuvenation, it managed to differentiate itself from its competitors. Furthermore, it can be seen that BTHR has the capability to build strong customer-based brand equity, as not some(prenominal) of its rival firms can relate to this proposition of romance and intimacy.Costly-to-imitate It is almost impossible to emulate BTHRs brand as numerous capabilities across the value chain contributed to its success its first-mover advantage, strategic brand image/positioning, innovative and undivided service by Banyan staff, and extensive marketing.No n-substitutable There is no doubt that many resorts were targeting the luxury premium market, however, none of them are perfect substitutes of Banyan Tree. Likewise, the strong brand equity and human efforts BTHR had put into structure it is not easily replicable.II. Innovation Resources Product Differentiation and High Quality ServiceBTHRs capacity to bring in led to its ability to create product specialism and naughty quality service, which kept customers returning. It differentiated its go by being the first in Asia to adopt the concept of a non-clinical garden spa with an eastern feel. Also, BTHR placed emphasis on the interior dcor and facilities of the villas to enhance the Banyan Tree experience, with each villa having a private landscaped garden and an open-air sunken bathtub. It offers a variety of spa packages and cuisines tailored to customers likings too.Additionally, Banyan Tree staff were encouraged to give innovative and exclusive service, to make sure its gue sts feel that they were pay special attention. Unique product offerings such as customised weddings even included a special partake in of local culture.Valuable BTHR was successful in winning the hearts of its customers as its offers them innovative and fresh experiences. This resulted in customer loyalty and word-of-mouth advertising, which generated a sustainable source of revenue.Rare Such product differentiation and customised services were only available at BTHR. Besides, the fusion of Banyan staff experience and BTHR culture adds on to its exclusivity.Costly-to-imitate BTHRs innovations were integrations of its culture as well as staffs expertise, making it pricy for competitors to duplicate them.Non-substitutable It is baffling for competitors to replicate the high quality and customised services offered by Banyan Tree. Moreover, the endless innovations and ideas kept its guests amazed and thrilled, making the Banyan Tree experience special and non-substitutable.III. H uman Resources In-house Management CapabilitiesBanyan Tree sets itself apart by having strong second of in-house management capabilities.As management capabilities are in-house, BTHR could build a resort from scratch within ii years. Furthermore, all those involved shared BTHRs corporate culture, were familiar with each other, enabling flexible and rapid finale making. Moreover, with in-house design capabilities, it can tailor its design according to its value proposition of romance and intimacy.To ensure efficiency, BTHR deployed pre-fabrication methods and problems were rectify quickly. Similarly, decision-making process was also hastened by the formation of the GX Group, which consisted of the key personnel and expertise required to make decisions.Besides, local staff were given the liberty to be creative in their service to ensure there was no gap between the level of service and customers expectations. This enhances staffs sense of belonging in BTHR, which explains the low attrition rate of staff. In-house trainings ensure its staff are sufficiently skilled to provide high quality services for its targeted customers too.Valuable Having in-house management capabilities empowers BTHR with better work over its expenses and product innovations, allowing consistent delivery of its brand promise. Its ability to build a resort faster than its competitors gives it a competitive edge too.Rare The in-house management capability enables BTHR to control every part of its project development process. This is a rare capability as most hotel owners fetter external vendors.Costly-to-imitate Due to the large outlay of capital required for its construction capabilities and resources, it would be extremely costly for its competitors to imitate. Similarly, it is almost impossible to emulate its staff trainings as they are also conducted in-house.Non-substitutable Eventhough some of these capabilities and resources can be outsourced, it would not be as value-adding to Banyan Tree as they would lose control of management.In conclusion, the key resources supporting the development and rise of Banyan Tree are highly interdependent. Together, the resources spurred the growth of BTHR as they enabled Banyan Tree to distinguish itself from its rivals. It is also noticed that these are intangible resources as intangibles make it more difficult for competitors to analyse and imitate.