Essay: Marriott Hotels business strategy

In business world, the perspectives of entrepreneurial Strategies are crucial for growth. Driven by this urge, the strategic management has modeled concepts and principles towards this managerial cause. In its approach, the strategy evaluates the business operational environment and focus on the inner working of a company. In this case, it develops methodological advances and ideas that follow and target at predicting the transformation of the management practice. This paper aims to examine the strategies of management employed by the Marriott Hotels executives.
The Marriott Hotels choose the ‘generic’ strategy
The differentiation Strategy is the ‘generic’ approach chosen by The Marriott Hotels to market it products in the highly competitive hotel industry. Marriot International is an enterprise that has successfully employed the business-level generic strategies. The business is a global franchise or and a lodging and hotel facilities entity. These products display the Marriott facility to be the one of the top players in the accommodation sector, and the phenomenon is projected to be stabilised for a number of future years. This projection is anchored on the various competitive advantages at the disposal of the company (Marriott International Brands 34). These advantages include cost, uniqueness, and their competitiveness extent. The Marriott Global Incorporation follows a variety of strategies at the entrepreneurial level. The plans are showcased by the Marriott’s vast brand portfolio that enables them to command a strong market presence in the hospitality industry. This approach is part of the strategy for the entity persuinng differentiation. The Marriot Incorporation differentiation plan is factored in developing a service and product that satisfies, in a unique way, the need of its customer. The approach is affected by the provision of several options of lodging that ranges from average to premium priced packages. The secret of value-addition offered by the uniqueness of the firm warrant it to peg a higher premium charge for hotels in the upmarket.
ii. The way through which Marriott Hotels is implementing its strategy of differentiation
Marriott Hotels is implementing its strategy of differentiation by integrating its market segmentation strategies with its every operation step. The Marriott management immediately realized, from the beginning, that one brand of the whole hotel enterprise could not offer adequate catering to every need of the guests (Harmon 2). As a result, the hotel chain utilized an extensive strategy of differentiation by creating various hotel brands. Each of the product names offered services to varied clients in the hospitality market. In this strata, products range from the low-end to high-end services. The upscale offers comprise of such products as Marriott JW Resorts, Ritz Carlton and Spas that are packaged for customers who desire luxurious and high-end accommodations (Marriott International Brands 34). Others are the Marriott Courtyard with a designed in-room space offices for the business traveler. The Fairfield Inn product offers quality service for the budget travelers. This mix of a variety of brands ensures that the Marriott International meets and fulfills any desire of every consumer regardless of her or his purchasing power. In this segmentation, the JW Marriott, Ritz Carlton, Marriott Resorts, and Hotels are promoted towards the clients desiring more experience in upscale lodging. These customers also have a strong will to pay a relatively higher cost of an added luxurious amenity. The Marriott Courtyard segment offers the business travelers an office space set-up in their units where they may be productive after business trip hours. Springhill Suites segments is a hotel offering that is moderate for a family or a single traveler with living area for unwinding before embarking on a good rest at nights (Harmon 2). The Townplace Suites and Residence Inn give accommodations an extended stay for traveler’s searching for a place that is more like home. These hostels encompass living areas, full-size kitchens and sleeping quarters. In addition, the hospitality chain has a budget traveler suite with accommodations of Marriott quality. In overall, the firm has as a Marriott for all form of occasions. These products and helps the chain in its noble mission of molding loyalty to its customers. As illustrated, through this segmentation Marriott Hotels has implemented its strategy of differentiation in a unique way.
Evaluation of the Marriott Hotels’ current strategy in the light of the analysis
In my opinion, the market segmentation strategy used by the hotels is a proper approach to creating a wide base of consumer. There is success for the company in this strategy, especially by segmentation its market in threefold and allocating specific price to each brand. These three categories of products. For example, the company has substantially served the high-end market in the Marriott JW Resorts, Ritz Carlton, and Spas products that are packaged for customers who desire luxurious and high-end accommodations. In addition, The Marriott Courtyard segment offers the business travelers an office space set-up in their units where they may be productive after business trip hours (Harmon 2). Springhill Suites segments is a hotel offering that is moderate for a family or a single traveler with living area for unwinding before embarking on a good rest at nights. The Townplace Suites and Residence Inn give accommodations an extended stay for traveler is searching for a home-like place. As a result, every consumer need is properly and adequately catered for without compromise in the high-quality service pursued by the Marriott Hotels management.
Discussion of alternative future strategies, or evolutions of the current plan, which are open to the Marriott Hotels
In my opinion, the company has other strategies that it may exploit. These include the Franchising and the approach Cost Leadership in its marketing mix. In addition to the market segmentation, the company should try to strengthen each brand as per its category. In this case, the firm will be able to create a strong brand identity with its consumers at all its levels of the market. As a result, it will be able to capture the mass market for its products. The increased demand will enable the firm to move high volumes of products thereby increasing its turnovers. As a result, it will be able to design a proper pricing system, as high turnovers will have high-profit levels. In addition, the company may employ the franchising strategy. In this case, it will be able to forego its traditional direct control of its hotels especially in the economies overseas. As a result, it might now concentrate its crucial business (Harmon 2). Furthermore, it will win in substantially reduce the financial risk associated with enormous businesses while allowing a more non-participatory global growth. The company may use this opportunity of franchising, as many investors are willing to collaborate with it due to its strong Marriott brand. This strategy will offset the threat of stiff competition the company is facing from its rival as Hilton and other hotels.
Specification of the alternative, I would recommend for the company
In my recommendation, I would propose the company to adopt the franchising strategy in its marketing and management mix. This strategy will enable the company management to concentrate in its core mandate of products development. Furthermore, it will significantly reduce the financial risk associated with enormous businesses while allowing a more non-participatory global growth. The company may use this opportunity of franchising, as many investors are willing to collaborate with it due to its strong Marriott brand. This strategy will offset the threat of stiff competition the company is facing from its rival as Hilton and other hotels.