Marriott International Marketing Mix

Report  - Marriott International Marketing Mix | Branding | Competitors

Executive summary

The report's main objective is to assess Marriott International's performance, particularly that of the Renaissance hotels in Germany. The hotels are active in the city's core. In order to comprehend the needs and requirements of the visitors, the report is based on the marketing mix strategy of the hotels. The target market is crucial to comprehending how businesses operate. Marriott International, however, has a good position in the market to draw clients. However, it now also has operations in Germany. The report also includes control, marketing, and competitor strategies.

Introduction – Overview

Hamburg is a magnificent port city in Germany that offers visitors a wealth of culture, history, and stunning architecture. A city for business or pleasure, Hamburger City. Staying in Hamburg is a memorable experience for tourists. In the German hotel industry, Renaissance Hotels, a division of Marriott International, is extremely valuable. It is situated in the heart of the city, close to the fairgrounds, city Hall, and the former Broscheks structure.

The report 2020-2021 states that 244 hotel rooms have been booked. Revenue from the covid-19 hotel investment was approximately 108 million euros (Mani, S. and Mishra 2022). Particularly, the hospitality industry experienced a 57% decline, totaling 2.1 billion euros in 2020. But the investment was repaid in 2021, and the hospitality industry is expanding (GIRGEN 2021). Investors contribute to about 75% of the volume of transactions in the German hotel industry.

It has over 6000 properties spread across more than 100 nations and has been in the hotel business for more than 90 years (Nyangwe, and Buhalis 2018). 2015 saw the growth and business with Marriott International where they had resorts and Starwood hotels all over the world (Spechler 2017). The Renaissance Hotel is the largest and offers the best amenities and services for tourists, and Marriott International approved a partnership with these movie franchises.

The primary objective of Renaissance Hotels and Marriott International is to provide tourists with high-quality hotel goods and services at competitive prices. The hotel's main objective is to develop a respectable Loyalty programme for patrons or visitors while earning their trust and providing them with superior services over time. As a result of its innovative age policy and distinctive customer service, the company is well-known. The research is therefore based on the marketing mix, a rival's marketing strategy, a budgeting strategy, and management of the Renaissance hotel in Germany in particular.

Marketing mix

The marketing mix frames the need for the business to develop various marketing strategies, including price approach, product innovation, promotion, planning, and others. However, the marketing strategy has many components to take into consideration (Rosner, ET AL., 2019). The success of the brand is the foundation of Marriott International's Renaissance hotels' business plan, which also provides a stronger market position. It is aggressively present in the market to fulfil the organization's goals and objectives.

Product

The product strategy of the companies is based on providing the most opulent hotels for visitors from around the world. The main products for the marketing mix are the hospitality services and the rooms provided to tourists. Its focus is primarily on three types of services: hotel and resort services, hospitality management, lodging, and other services (Catana, and Toma 2021). Depending on how well the needs and demands of the hotel's customers are met, the core product generates the majority of the revenue in the establishment.

The Marriott International Corporation's top brand, the Renaissance Hotel, is one of its products. While having the most luxurious and contemporary-looking rooms, they provide better services to customers. Every brand has a distinct theme and aesthetic because it helps consumers and visitors recognise it. The surroundings and location in the city centre are the foundation of the Marriott International-owned Renaissance hotel brand. Visitors to hotels do so in order to benefit from the best amenities and services. As a result, the product strategy focuses on providing tourists with accessible hotels and dining options as well as high-quality services.

Price

Orders can be placed on the website at the lowest senior discount prices. Tourists in August can take advantage of a number of discounts or special offers, including senior discounts, government and military discounts, and group codes. The most affordable prices are also necessary for the comfort of visitors or guests to the country. The nightly starting price for seniors is 229 euros. In a similar vein, the Deluxe is based on a 348 euro per night fee (Binns, and Kempf 2021).

Going after the right product or service or for German tourists is Marriott International's main objective, especially for The Renaissance Hotel. The hotel makes decisions based on maintaining the best value and quality framework in order to satisfy the guests in order to provide them with the best services at the lowest cost. To achieve maximum awareness and income, it is based on having the region's brand name. Based on providing better service and satisfying visitor needs and wants, hotels charge higher rates. For those travellers on a budget looking for inexpensive room services, Renaissance hotels, for instance, offer discount rates.

As a result, the rates give the hotel the freedom to pursue a competitive strategy to alter the situation and advance toward satisfying the visitors' or customers' needs. In order to save money and make sure that guests are happy with the services and the price they pay, they keep the hotel's marketing current.

Place

The city centre was chosen as the location for marketing purposes. Therefore, staying at a hotel is the most practical option for visitors. The hotel's focus is on providing guests with luxurious and Deluxe rooms that come equipped with superior infrastructure and all necessary amenities. In 2018, there were more than 16000 rooms in 200 hotels, a large portion of which were in the Renaissance hotel, which has 244 accessible rooms for visitors.

Promotion

The German hospitality industry is already expanding and becoming more well-known with the goal of promotion. However, some promotion is carried out using the social media website platform. The discount of the absence of the primary essential resources is at the core of the marketing of the services and hotel room stays. Hotels can be found in other nations besides Germany. However, Marriott International has built a variety of hotels in more than 100 countries to benefit a range of visitors. Every Marriott International hotel is constructed on a better channel plan to have the best location and pricing strategy for the guests in order to provide a better location to them as well.

It is to give them the chance to control costs while also choosing different infrastructures that consider the culture and values of the particular country. Distribution or placement strategies that are based on aspects like maintaining steady growth, maximising income, and providing visitors with the necessary services at the right price to increase profitability and the reputation of the company.

Marketing strategy

The hotel's market share is growing along with Germany's economy and population. While the hotel and tourism industry recovers from the COVID-19 epidemic, there are still challenges to be overcome. The hotel is working hard to give tourists better services by utilising modern interior bottle designs and improved infrastructure that meets the needs and preferences of visitors from all over the world today. Considering and conducting a social media survey of the website and other platforms to get visitor feedback Customers respond in both positive and negative ways, as evidenced. The brand name serves as the foundation of the primary marketing strategy for the Renaissance hotels operated by Marriott International in Germany.

Marriott International was founded on the recognition and goodwill it has gained from travellers and clients in Germany and other nations. Therefore, it is not necessary to conduct separate marketing to instil confidence in the visitors. Merriott already enjoys a better rapport with its customers than most of its visitors.

Target market

Travelers from all over the world are the target market for the Renaissance Hotel or International. As a result, the target market includes consumers and visitors from all over the world rather than just those from a single country (Catana, and Toma 2021). Germany is the corporate nation that contributes the most to the tourism and hospitality sectors. Marriott International's business model is based on luring the most visitors from all over the world, which is the hotels' target market.

The Renaissance Hotel is one example of how Marriott International is doing well in attracting visitors while providing them with first-rate infrastructure that satisfies their needs and wants. The Renaissance Hotel is aware that visitors do not travel purely for amusement. But they come here to conduct business in peace and quiet. As a result, it's critical to choose infrastructure and amenities that cater to the needs and preferences of the customer and persuade them to stay at the same hotel or work with the same company each time they travel through the area.

Communication and branding

The communication and branding strategy of the hotel is based on luring customers online or through social media. To draw clients and visitors, Meerut International has a distinct brand and reputation. On the other hand, the Renaissance Hotel has developed a strong reputation among travellers (Bruns-Smith, et al., 2015). They have created a more elaborate strategy for hotel and tourist communication, though. The following connection with customers is made possible by the online platform. The online platform allows for the reservation of hotel rooms while also offering a wide range of options for hotel visits. In a similar vein, there are a variety of facilities that they can use to find the specific solution of booking a hotel room for business or any other activity. 

On the other hand, customer service agents are available around-the-clock to respond to visitors' questions and concerns. As a result, communication within the hotel is improved in an effort to improve the guest's experience and win their trust or confidence. Due to their superior amenities, security, and infrastructure, palaces and hotels are popular with well-known celebrities from a variety of professions. As a result, the communication channel is strong enough to understand the requirements for security and the safety of international tourists.

Marketing research

The fact that most clients are content with the business' performance cannot be contested. On the other hand, all visitors who have a perception and analysis of everything at the hotel do not receive suitable services, as noted on many platforms. On the other hand, some customers receive better services. The hotel's management office staff is the primary source of complaints from guests regarding the condition of the tables and chairs (Kalargyrou, and Volis 2014). Therefore, if a visitor shows up, it will be for lunch or dinner. Because of this, the breakfast and lunch menus are unappealing in comparison to the price guests pay for their hotel stay.

Customers and visitors' primary complaints or unfavourable remarks centre on the use of German rather than English. It is important to acknowledge that people or guests come to the hotel from all over the world while keeping in mind the reputation of the hotel. However, the tourists are in a difficult situation because the hotel does not have enough staff members who speak or communicate in English.

Competitor strategy

Hotel is a trademark of Marriott International and was established in 1891. The hotel and its rivals both generate about $25 million in revenue (Pfalz 2021). The primary rival to the Renaissance Hotel is a grand floor, which has 520 employees and brings in 102 million dollars annually. Another competitor of Hotel Reena is Hotel Monte Lionel, which employs 446 people and generates 94 million US dollars in revenue. In order to grow both their own company's business and the hospitality industry as a whole, Renaissance hotels offered a variety of packages and discounts to tourists.

The Renaissance Hotel, which has a profit of 76 million dollars and employs about 555 people, is opposed by a sizable resort and spa in Geneva. Although there are other competitors nearby, Renaissance Hotel has a plan to offer special deals to visitors. Additionally, because of its central location, guests can easily stay in the city while visiting the hotel. Given the competition, it is crucial that the hotel's location be selected to draw travellers while also offering top-notch services.

The Renaissance Hotel was selected as a result because it is situated in the heart of the city and offers visitors a better alternative. They will easily find a place to stay in the city's centre from which to explore its most important landmarks. Although there are many hotels to choose from, travellers favour the Renaissance Hotel because of its location.

Budget

Marriott International's Renaissance hotels announced a three-year expansion plan in March 2019 with the goal of pursuing global growth and opening 1700 hotels by the year 2021. (Binns, and Kempf 2021). The strategy was to pursue both budget expansion and profitability. The covid-19, however, had a greater impact on the hotel's performance. However, it was done to the fullest extent possible in order to accommodate visitors from all over the world with better amenities.

The hotel received 28 million dollars in assistance from the German government between April 2021 and September 2021 for investment in Germany's smallest hotels (Binns, and Kempf 2021). The pandemic crisis had a greater impact on the company and other property level businesses, and it became more difficult to support various business units as a result. It was done so that businesses could keep advancing society's welfare.

Calendar

The 1700+ Renaissance hotels' calendars show when rooms and services are available throughout the year (Binns, and Kempf 2021). It is crucial to understand that different regulations and guest discounts must be set up in order to have a better business plan for renaissance hotels. It enables them to have the best strategy possible, encouraging people to stay at Marriott International hotels with discounts and other incentives.

The main objectives of the Renaissance hotels are better staff support and management. The workers significantly contributed to cost reduction and having the best jobs possible. Only if the budget and strategy are focused on enhancing employee performance will it be feasible. Cost savings are only possible if talented and qualified employees are hired and retained. They might then end up being the main supporters of the company.

Control strategy

Marriott International manages Renaissance hotels, which have engaged managers who have a bigger impact on initiatives like global diversity, business ethics, and human rights. Additionally, they are in charge of development, climate change, energy, waste, water, natural capital, workforce readiness, and community involvement. They are also in charge of women's empowerment. Instead of focusing on profit maximisation, the company's control strategy emphasises resource utilisation.

However, they must have a revenue per available room if they want to be the hotel's brand for everyone who stays there or uses its services (Catana, and Toma 2021). As a result, the hotel's performance rating is based on how well it typically manages to fill its available rooms. The average life rate and occupancy rate are just two examples of the various metrics used to determine revenue per room performance indicators. The hotel uses a variety of indicators to manage operations and performance. These are computed using the operating profit margins of the business. In general, the company's ability to make money through hotel operations in order to provide better services.

With the help of its technology, the hotel is able to track a variety of indicators, including inventory demand forecasts and drill-downs for independent transactions. In order to increase the number of hotel reservations and increase revenue from sales, the hotel organisation has simultaneously established a complete yield system.

The main objectives of the Renaissance hotels are better staff support and management. The workers significantly contributed to cost reduction and having the best jobs possible. Only if the budget and strategy are focused on enhancing employee performance will it be feasible. Cost savings are only possible if talented and qualified employees are hired and retained. They might then end up being the main supporters of the company.

A higher turnover will result from the organization's desired talent, as well as cost savings, the development of a positive culture, a reduction in errors, and the establishment of customer service centres. The best work of 10600 employees, many of whom have worked for the company for more than 20 years, formed the foundation of the Renaissance Hotel. Marriott International successfully manages its talent while pursuing a "asset light model."

Conclusion

In order to provide better services and infrastructure for visitors, the research was based on an analysis of the marketing strategies used by Radisson hotels and Marriott International to operate in the centre of Germany. In this regard, the study covered the significance of marketing strategy and the need to follow competitors' plans in order to maintain a company's viability in the marketplace. In addition, the report's sole focus was on developing a control strategy for the company that would govern the various hotel operations and provide the best customer service while winning over customers' confidence and trust. The report provided evidence for the concept of receiving better services at more affordable costs.

 

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