AB3601 Strategic management | Banyan Tree Resorts & Hotels | Critical Thinking Assignment | | Zhong Yicen | U1110421ASeminar Group 7Instructor: Professor Wan Chew Yoong | I‚ Zhong Yicen‚ declare that this assignment is my own work‚ unless otherwise referenced‚ as defined by the NTU policy on plagiarism. I have read the NTU Honour Code and Pledge. http://www.ntu.edu.sg/home/yclai/ Signed…………Zhong
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The Banyan Tree: branding the intangible Jochen Wirtz Jochen Wirtz is an Associate Professor of Marketing and Academic Director of the UCLA – NUS Executive MBA Program at the National University of Singapore‚ Singapore. Banyan Tree Hotels and Resorts had become a leading player in the luxury resort and spa market in Asia. As part of its growth strategy‚ Banyan Tree had launched new brands and brand extensions that included resorts‚ spas‚ residences‚ destination club memberships‚ retail outlets
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Promotional mix It is helpful to define the five main elements of the promotional mix before considering their strengths and limitations. Advertising Advertising is any paid form of non-personal communication of ideas or products in the "prime media": i.e. television‚ newspapers‚ magazines‚ billboard posters‚ radio‚ cinema etc. Advertising is intended to persuade and to inform. The two basic aspects of advertising are the message (what you want your communication to say) and the medium (how you
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Which central issues and challenges are/had Banyan Tree Holdings facing/faced? Marketing Brand communication Originally the Banyan Tree Holding was trying to become known and considered in the market‚ but in the near future they had to stop with it because of the financial situation. The marketing part covered 7% of all revenues from the whole budget. 60% were apportioned for trade and 40% apportioned for consumer promotions. Communication was based on the third side support and authorization‚ word-of-mouth
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Banyan Tree Branding the Intangible Abstract Banyan Tree Hotels and Resorts had become a leading player in the luxury resorts and spa market in Asia. As part of its growth strategy‚ Banyan Tree had launched new brands and brand extensions that included resorts‚ spas‚ retail outlets‚ and even museum shops. Now‚ the company had to contemplate how to manage its brand portfolio and expand its business while preserving the distinctive identity and strong brand image of Banyan Tree
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Promotion mix is the combination of advertising‚ sales promotion‚ public relations‚ personal selling and direct marketing tools that a company uses to communicate value and build relationships (Kotler & Armstrong‚ 2008). A balanced mix of these aspects is needed to build and maintain profitable customer relationships. Advertising is‚ “and paid form of nonpersonal presentation and promotion of ideas‚ goods or services by an identified sponsor” (Kotler & Armstrong‚ 2008). For example advertising includes
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propositions does Banyan Tree offer as an experiential brand? By leveraging the natural surroundings unique to each location and adding consistency in the designs‚ facilities (including spas)‚ ambience (including romance)‚ and services (including warm hospitality) offered‚ Banyan Tree created strong brand identity and a unique value proposition that was associated with self-indulgence and pampering experience. 3. Evaluate Banyan Tree’s expansion plan. What are the potential risks that Banyan Tree should be
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resources have been identified in helping Banyan Tree (BT) achieve strategic competitiveness and above-average returns. The analysis is summarized in the below table. Resources | Valuable? | Rare? | Inimitable? | Non-substitutable? | 1. Brand | Yes – BT has successfully tapped into its target market segment because of its strategic brand positioning and image. | Yes – The only resort targeting the luxury premium market then‚ its differentiating “Banyan Tree experience” leads consumers to choose BT
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Exploring Creative Product Promotion Here is some additional information to help you with your assignment work. This first part on Place is hopefully a reminder! Marketing Mix - Place What determines where a business should locate? * There must be customers passing or easily attracted to the place. * There must be affordable business premises available for rent or to buy. * No competitors nearby. * Permission must be granted. All restaurants and shops need permission to operate
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Welcome to join Banyan Tree’s world‚ our presentation is going to bring out the success and potential issue of Banyan Tree Holdings Banyan Tree is a leading manager and developer of resorts‚ hotels and spas throughout the Asia Pacific. The first Banyan Tree’s hotel and resort was set up in Phuket in 1994; Up till now‚ Banyan Tree is associated with more than 25 resorts and hotels‚ over 60 spas and 80 galleries‚ as well as 3 golf courses. How did they do that so quickly? Mr. Ho Kwon Ping‚ chairman
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