ASSIGNMENT #21.What are the main factors that contributed to Banyan Tree’s success?To be successful in the market the services should give the top most service and should do marketing in an effective way. There are various factors that contribute to a brands success. The following are the factors Contributed to Banyan Tree’s Success.Good target market selectionBanyan tree had selected a good target market of couples and newly married couples as the romantic nature and ambience of the hotel and resort. The cultural heritage of the resort and the ambience of the resort was created in such a way to create a sense of sensuality and give outmost privacy to their customers. The effective use of natural foliage and boulders as a privacy screen(Essentials of Services Marketing (3rd Edition), 2017).Positioning and branding strategyBanyan tree has positioned themselves as a culturally rich and romantic resort. They branded banyan tree for a niche market and the selection of the target market was good and which has helped in driving the sales of services for the companyEssentials of Services Marketing (3rd Edition), 2017).Products and services deliveredBanyan tree delivers various services which improves the experience of the customers. Banyan tree spa in every resort we go into for the customers to increase the quality and customer experience with the banyan tree. The natural ambience and romantic nature of the resorts also affect customer experience of the customers (Essentials of Services Marketing (3rd Edition), 2017).
Effective internal and external marketing strategy Banyan tree initially did very intensive advertising for a short period of time to gain recognition in the market which was very effective, and god thought as the type of service they provide they need recognition in the market so that the get the customer footfall. The intensive marketing consisted of magazine mainly high-end magazines. They also gained effective brand awareness in the market through means of public relations and global marketing programs. These marketing tactics has led banyan tree to gain a good recognition in the market and helped them achieve their marketing goals (Essentials of Services Marketing (3rd Edition), 2017).Support of local communitiesThe CSR done by banyan tree has created a very good brand image in front of the local communities. The local communities look after the banyan tree as a responsible brand due to its very effective and good CSR in the market. They portrayed themselves as a responsible brand in the market (Essentials of Services Marketing (3rd Edition), 2017).