that every team needs to be guided by a leader; in this scenario a leader should have several traits and abilities. One of the important ability of a leader should be to motivate his team members and keep them energized at all times. 2.1 Ritz Calrton Ritz Carlton is one amongst the oldest five star hotel
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The Ritz-Carlton brands itself as more than just five star luxury; it sees itself as a lifestyle brand where talent is embraced and a place of opportunity and growth (The Ritz-Carlton‚ 2011). Ritz-Carlton has been known since the beginning for high quality service and refined elegance which has developed over the years into contemporary luxury. The hotel chain has always strived for quality improvement‚ of not only its external brand‚ but its internal brand and puts a high value of its employees
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The Ritz-Carlton Hotel took a unique path to compete with its rivals. Founded on principles of groundbreaking levels of customer service‚ and with guest satisfaction being the highest mission‚ the Ritz-Carlton Hotel Company‚ is the first and only hotel company to win the desirable Malcolm Baldridge National Quality Award and the only service company to win the award two times‚ with the most recent honor received in 1999. Brief History of Ritz-Carlton Hotel Company The Ritz-Carlton Hotel
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The Ritz-Carlton Does Not Sell Hotel Rooms… The Ritz Carlton runs in a way that makes every single detail about the consumer and the consumer’s needs‚ wants‚ and expectations. Every decision that they make they make with the consumer in mind. They essentially are selling unsurpassed service to their patrons. The Ritz Carlton is very well-known for providing consistent service to its patrons in each of its locations throughout the world. They provide guests with high quality customer service
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ASSIGNMENT 1) Market segmentation Market segmentation is simply a modern marketing strategy in which the market for your customers are divided in various several groups and segments based on some major key factors such as demographic‚ geographic‚ psychological and behavioural factors. By dividing the market‚ the sellers that that try to deliver good value to their customers will be able to have better understanding of their target audience and thereby make their marketing more effective. Market segmentation
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reach different markets or to promote your products to different locations or people one has to use a method called market segmentation. "Market segmentation describes the division of a market into homogenous groups which will respond differently to promotions‚ communications‚ advertising and other marketing mix variable" (Cumming). Market segmentation is extremely important for companies around the world. If a company doesn’t research the area in which they are going to market or they put a product
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Market Segmentation Strategy‚ Competitive Advantage‚ and Public Policy Market Segmentation Strategy‚ Competitive Advantage‚ and Public Policy: Grounding Segmentation Strategy in Resource-Advantage Theory Shelby D. Hunt & Dennis B. Arnett Abstract Market segmentation is one of the most widely accepted concepts in marketing. Its fundamental thesis is that‚ to achieve competitive advantage and‚ thereby‚ superior financial performance‚ firms should (1) identify segments of demand‚ (2) target specific
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Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs‚ and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow to reach them. Market segments allow companies to create product differentiation strategies to target them. Criteria for segmenting An ideal market segment meets all of the following criteria: * It is possible to measure
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MARKET SEGMENTATION‚ TARGETING AND POSITIONING MARKET SEGMENTATION INTRODUCTION: - The market for any product is normally made up of several segments. A ‘market’ after all is the aggregate of consumers of a given product. And‚ consumer (the end user)‚ who makes a market‚ are of varying characteristics user and buying behavior. There are different factors contributing for varying mind set of consumers. It is thus natural that many differing segments occur within a market. In order to capture this
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The purpose of market segmentation is to enable the marketer to adjust marketing mixes (product‚ price‚ promotion‚ place) to meet the needs of one or more specific segments. Basically marketers use the market segmentation process to divide big markets into smaller segments according to characteristics of individuals‚ different groups and locations. Adidas the largest sportswear manufacturer in Europe and the second biggest sportswear manufacturer in the world markets by looking at buying attitudes
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