Ritz-Carlton 1. Using segmentation strategies, what are the target market(s) for

Question

Ritz-Carlton 1. Using segmentation strategies, what are the target market(s) for the Ritz-Carlton? How does this relate to their brand management strategies? 2. Who are the top three competitors of Ritz-Carlton, and what are their advantages/disadvantages with respect to their competitive product/service strategies. 3. How does The Ritz-Carlton match up to competing hotels? What are its key differences? 4. Discuss the importance of the “wow stories” in maintaining top quality customer service for a luxury hotel like the RitzCarlton

Explanation / Answer

Ans1=

Segmentation-

Corporate clients, business travellers, Families from Upper- to Upper Middle Class economic strata,

Target cluster-

Urban Upper-class business executives

Positioning-

It is a luxury hotel cluster that attempts at creating memories for the client rather than only serving them well

ANS 2=.

Ans 3=Unlike its competitors, Ritz-Carlton has a Leadership Centre that mentors its staff about   commitment to client service excellence, & also makes available the opportunity to other establishments who are keen to benchmark best systems in leadership & client service. Due in major part to the development of the Leadership Centre, Ritz-Carlton is a 2-time receiver of the Malcolm Baldrige Quality Award. At Ritz-Carlton, it is all about the customers & providing them the best possible experience

Ans4=The ‘wow stories’ fulfil several essential aims, like, reinforcing in the staff the importance of excellent client service & how vital it is to go out of the way in order to make the client's experience at the hotel one that leaves a lasting impression. Consumers who experience this phenomenon will become repeat consumers

Segmentation-

Corporate clients, business travellers, Families from Upper- to Upper Middle Class economic strata,

Target cluster-

Urban Upper-class business executives

Positioning-

It is a luxury hotel cluster that attempts at creating memories for the client rather than only serving them well

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