Banyan Tree-Branding the Intangible - Marcelo Monserrate-Gordon 15\/SP_MSSIL_7007_81D Global Mktg\/Service Industry April 8 2015 Banyan Tree Branding the

Banyan Tree-Branding the Intangible - Marcelo...

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Marcelo Monserrate-Gordon15/SP_MSSIL_7007_81D Global Mktg/Service IndustryApril 8, 2015Banyan Tree: Branding the Intangible1. What are the main factors that contributed to Banyan Tree’s success? Banyan Tree’s success might be attributed to an overall well designed and executed external and internal marketing program, and in particular: • Choice of target segment • Positioning and branding strategy • Product/service design and delivery • Aggressive internal marketing • Winning the support of local communities and public interest groups • Pioneer status: first mover advantage • Pro-environmental business practices Choice of target segment The large price gap in the luxury resorts market meant that middle upper class consumers must either stretch to pay for ultra-luxurious resorts such as Aman, or settle for resorts, though luxurious, are catered to the masses. Ho recognized the business opportunity presented by the gap in the resorts market: there was room for something pricier and more exclusive that would better cater to these middle upper class consumers, who had better spending power than had the average consumer in the mass market, and would be able to afford and willing to pay for a more exclusive premium service offering. Moreover, as a result of today’s generally more hectic and stressful lifestyles, many well-to-do couples would appreciate Banyan Tree’s value proposition of a memorable, romantic holiday experience that would both provide relaxation and create quality time for them to spend quiet moments together.Positioning and branding strategy Although Banyan Tree’s service offering was unique when it was first launched, this would not be a sustainable competitive advantage, as most tangible products could be easily copied by competitors. A
clear brand promise of romance and intimacy, which the company consistently delivered, also helped it achieve a clear and distinctive market position. That the company consistently delivered on its promise further reinforced what Banyan Tree stood for in theminds of its customers, thereby building both brand loyalty and emotional bonds.Product/service design and delivery The luxurious villas and distinctive native settings provided an excellent backdrop for guests to create memorable holiday experiences. Such personalized service delivery warmed guests, and helped them feel comfortable and relaxed, contributing to the entire customer experience. Repeat patronage was alsoencouraged by the different services offered at different locations, which gave satisfied guests an added incentive to visit Banyan Tree resorts around the world, to experience authentic flavors and practices of various local communities. As employees were given freedom to decorate the villas and in serving guests, even regular guests of a particular resort would have a different experience and may be pleasantly surprised every time they checked

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