Support Quality -- Banyan Tree Group
Service Quality Group Project
1 . What are the primary factors that contributed to Banyan Tree's accomplishment?
Great knowledge & experience of president
Extensive travelling experiences, razor-sharp observation and superior experience of Ho Kwon Ping, founder of Banyan Tree, inspired him to bridge the price distance in the motel industry.
Ho foresees that the 21st century will probably be followed by the Asian with regard to the market, therefore this individual created a company that Asians will like, which has a strong Cookware culture, that may also catch the attention of the global customers. (Mary Scoviak, 2007)
Ho attributes the achievements of the Banyan Tree Group, as opposed to various other Asian brands, to his ability to appreciate Western buyer markets. Whilst Ho's upbringing has allowed him to straddle both East and Western, this will certainly not be key moving forward, he says. В " The 21st century is very going to be the regarding Asia вЂ“ both India and Chinese suppliers. The huge client markets will probably be AsianвЂќ (Insead 2003, afin de. 3)
Superb choice of concentrate on segment
Banyan Tree focuses on the middle to high end consumers to make these people settle for something which is quite a bit less highly priced and exclusive being a premium vacation resort such as Tenang but yet gives them the same benefits which will match their purpose.
With the nerve-racking and active schedules that lots of couples face today, Banyan Tree's holiday resort provides an method for lovers to relax, use quality time jointly, as well as to build closer interactions.
This target segment is usually supported by T. Tamer Cavusgil director of Institute of International Organization at the L. Mack Robinson College of Business at Georgia Express University. This individual stated that managers should refer to the various market potential indicators as well as the most important to measure and keep an eye on the middle class segment's size and growth. This is because the center class part contributes the most to the economic climate and they are one of the most active consumers. So in new markets or broadening markets, the middle class segment's size and growth will be a good signal of the marketplace economy. (S. T. Cavusgil, 2008) In correlation to Hohol (1997), people that are incredibly wealthy number about 70 million across Asia, people who can be tagged " middle classвЂќ, including professionals, are required to amount between 375 and five-hundred million by the year 2006 and those whom are leaving their lower income behind and beginning to use significantly upon some contemporary durables are expected to quantity some 750 million. Hohol (1997) as well added that within the first decade from the next hundred years there will be over the billion Hard anodized cookware middle-class buyers which, in respect to him is " like having roughly the same as four to five US marketsвЂќ. Exceptional brand placing
Banyan Shrub differentiated from its competitors by providing " refuge for sensesвЂќ experience to customers which is not easy to repeat by its competitors.
Building resorts including individual accommodations, exotic in architectural design and situated as a loving, private and intimate experience for guests was carefully constructed and appreciated by many couples. Such worth proposition had yet to be adopted simply by any resort or holiday resort, thus Banyan Tree gained a competitive advantage by becoming the pioneer.
Good brand acknowledgement allows Banyan Tree to charge higher prices for their prestigious group of high end clients, especially aimed towards at couples with stressful work schedules and stressful lifestyle, who have the power and are offering more intended for greater pleasure and leisure.
Excellent customer service level gives value towards the customer's knowledge.
Origin: Cleartrip. com
Cleartrip. com has taken reviews via 142 consumers of Banyan Tree and the ratings have got proven that customers have been completely clearly content with the assistance and services provided and many of the customers are there for his or her honeymoon.
Therefore , in order for Banyan Tree to differentiate from its competitors, establishing a unique brand positioning is vital....
References: Insead, 2003, seen on 10 February 08, http://knowledge.insead.edu/banyantree.cfm
H. Tamer Cavusgil, 2008, looked at on almost 8 February 2008, http://globalatlanta.com/article/16935/
Hohol, 1997, viewed on 12 February 2008, http://www.fao.org/DOCREP/003/X1579E/X1579E10.htm
Oppapers. com, 2008, viewed on 13 February 2008, http://www.oppapers.com/essays/Banyan-Tree/172517
Cleartrip. com, 2008, viewed on 12-15 February 08, http://www.cleartrip.com/hotels/info/banyan-tree-phuket-132514/reviews
BanyanTree. com, 2009, viewed on 16 March 2008, http://www.banyantree.com/
Mary Scoviak, 2007, viewed on almost 8 February 08, http://www.hotelsmag.com/article/ca6518835.html
BanyanTree, 2006, Durability Report 06\, viewed on 15 Feb . 2008, http://www.banyantree.com/greenimperative/Banyan_Tree_CSR_2006. pdf
Christopher Lovelock, Jochen Wirtz, Hean Tat Keh, Xiongwen Lu, 2005, Providers Marketing In Asia, subsequent edition, Prentice Hall, pp. 580
Gary Armstrong, Philip Kotler, Geoffrey da Silva, 2006, Advertising, An Introduction, An Asian Point of view, 5th model, Prentice Hall