The achievement of Banyan Tree has been contributed by quite a number of factors. The brand promises familiarity, romance and renaissance through pioneering a model of natural environment where resorts replicate heritage, tradition and welcoming nature of their position. Usually, Banyan Tree has a brand recognition and preference of strength drive amongst the customers. A very good strategic value of resorts and hotels boosts the performance of Banyan Tree and this has made it a world leader in this business.
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On Banyan Tree brand positioning and communication strategies, there has been a lot of efficiency realized. Literay, Banyan Tree can actually maintain its unique positioning in an increasingly overcrowded resorts market. The communication strategies and brand positioning techniques have created a competitive advantage over its competitors. Brand equity is the main competitive advantge that Banyan Trees has as it provides propriety advantages to stay ahead of international competition. With the arrival of Chinese firms, a number of organizations realized that all cost advantages had faded away from the start. The innovative charcterics brought about by the resorts like pool villas and tropical spa pavilions can be easily copied by the competitors. Therefore, the only solution to deal with price wars as Banyan Tree had succesfully endeavored to achieve was to influence on the brand to direct a price premium and promote the customer loyalty.
The Banyan Tree brand portifolio, Colours of Angsana together with the city hotels and the beach resorts, galleries, museum shops and spas can well fit in a brand family. At present, Banyan Tree operates and manages hotels and resorts, golf courses and retail galleries. All the same, the organization is known for its signature, Banyan Tree along with Angsana brands. Angsana emerged as a sister brand following its 2000 launch. The aim was to reach out to the younger customers and to make appeals to the young emerging afmilies to make a choice on them. Pricing has normally been 25% less compared to the main Banyan Tree resorts. Even though there are quite a number of differences, they compliment each other in bringing out the family brand unit. For example, one Banyan Tree segment targets couples whereas Angsana lays emphasis on families.
For Banyan Tree to manage these brands and products in the future, it would be important to focus on resource diversification. Good management of such products and brands, management on each brand would be a good approach in attaining consistency on branding. Portfolio management through the company brand would achieve high consistency in branding and positioning. Moreover, it would be possible to cross sell and again, bundle the company products with such kind of arrangement which would require resource duplication for various functions. Therefore, it will be imperative to introduce current brands in the international market. This way any company engagement must consider the location along with the cost constraints realized with the different Banyan Tree brands.
Banyan Tree was doing well looking at the huge investments in protecting and preserving cultural and natural surroundings as it is carried out in business environments where the structuring of labor cost may not be achievable. The the Colours of Angsana brand was an open up idea in soft adventure tourism section. Thus, it could enjoy the mover advantages initially. This may be applied to help colours of Angsana to make the market position strong to keep up with competition. Additionally, changing the preferences abd tastes of customers would also be an added advantage. With the emergence of new products, the tastes in the market could significantly vary.
Engaging in a corporate social role has been important on Banyan Tree brand equity. Brand equity has everything to do with the outcomes in marketing that surround the products through the name of the brand when comapred with the effect that would have been without the branding. Corporate social responsibility (CSR) has helped Banyan Tree to have a good image on brand development and equity. The focus on CSR activities is on engaging in care for the natural and cultural environments with processes that are eco-friendly. Local communities have had a first input benefit from Banyan Tree through emploment. Moreover, the company respcets its workforce by taking care of their welfare.
There are however potential issues that Banyan Tree may face in America, Europe and the Middle East. Investment cost is a challenge coming to America when compared with Asia. The ability to efectively compete with legendary hotels would also pose a great challenge. Europe presents same issues of other competitors and the cost of investment. Given that Banyan Tree is known for kuxury resort and Spa in Asia, Middle East would only present the challenge of applying their tangline marketing as ‘a senses of place’ as a development and promotion of culture in the targeted region. This is so because Middle East is somewhat a desert and not same as Asia where it is mainly a tropical rainforest. Government policies could also be an issue in Middle East.
In dealing with these challenges, Banyan Tree should keep its identity seprarate and make an effort to ensure competitors don’t enter its territory. This would be important in addressing the investment cost burden since a good martketing approach would take acre of the initial investment expenses. Generally, offering romatic holidays is easy to take on along with tangible offers. However, the normal service encounter can yet be exclusive at Banyan Tree based on the provision of good service and the locations in which they are located.
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