Marketing: Ritz Carton Case study
Marketing is the strategy that organizations use to ensure they that create awareness of their goods and services. In fact, marketing is the most important activity of any organization operating with profit is the core objective. This is because it is the activity that facilitates the earning of the revenue by the company. Alternatively, marketing helps the organization to sell out and show to the general public the products they are offering. Again, marketing helps the organization benefits to spot that target market and appeal to them why they should their products instead of those of the competitors. The kind of marketing strategy that an organization chooses will have to depend on the idea and plans that the organization has on their products. Different marketing strategies are used in a different organization so that to ensure the strategy used is unique. Likewise, Ritz Carton organization is adopted different marketing techniques to ensure that their products are promoted appropriately.
Background of Ritz Carton Company
Ritz-Carton is one of the largest luxurious hotel chains in Boston. The origin of the company goes back to the hotel that was opened in Boston. From Boston, the company began to open up more of its branches in different places worldwide. The hotel had the aim of revolutionizing the way travelers of the United States of America experienced customer service in hotels. The company was so determined to offer the best and unique service that was not being provided by any other hotels in the United States. For example, Ritz Carton was the first hotel to be able to provide a single birth in each of its guest rooms (Armstrong, Adam, Denize, & Kotler, 2014). It was a move that was aided in ensuring the privacy and comfort of their guests. The environment of the hotel was always kept clean and appealing at first sight as they had fresh flowers planted all over the hotel premises.
The dressing code for the entire staff was that of qualified professionals. The staff’s formal dress code is white and black tie or at times dressed in morning coat tire. It was easier to identify the team in this manner as they were uniformly dressed. The concept at which Ritz-Carton is known today was developed by hotelier Host Schulze together with his four development team members. They were able to concentrate on both personal and functional side of service. The event was directly aimed at the benefit of their customerās interest. The objective was to ensure that their staff can offer a high level of customer service to their clients (Barringer, & Ireland, 2015). The organization could achieve this value as it ensured that it provided excellent training for its
Current Market Condition of Ritz Carton
Over the years Ritz Carton has been able to perform well in the market as they can offer services that are unique and different from the other competing organizations in the same industry. Ritz Carton luxury hotels are ranked as one of the best hotels in the United States. This has increased the demand for the company services products among the existing clients as well as potential customers. The fact that the organization provides the best customer services that always is focused on the client satisfaction has made its demand rise in the market (Reid, & Bojanic, 2013). The customersā requests have been rising each year. This has facilitated the growth and expansion of the company through opening of many branches.
The market condition of Ritz Carton Hotel has placed it in a position that ensures they are always on their toes working on a new project. The market has put the organization at a level that has made them be recognized as the top luxury hotel in the United States of America. The fact that they are at the top as the best it makes the organization be the best online luxury hotel in the United States as they also transact online. The organization also offers customized services to their customers; this makes the organization the best because customers are served according to their preferences. The organization has an excellent rapport that has made it stay at the top in the industry it has captured the attention of the customers.
The fact that the organization is well accepted in the market and placed at the top, it is also ensuring that it maintains the position by perfecting on all their activities and operations. The organization puts all its efforts in ensuring that it maintains the market and the relation of the customers. The company achieves this by making sure that they upgrade to all the new and more advanced ways of offering proper customer service (Helmus, Paul & Glenn, 2013). The market is seen to be highly competitive, and so they also work so as to ensure that they also fit in the rapid changing of the market. The current condition of the market is unstable as more and more other hotels are entering the market.Marketing position of Ritz Carton Organization
Market position is the point at which an organization can create awareness to the people on the products and services that they are offering. It is the point at which an organization will have to ensure that they uniquely present their goods and services so that to be able to compete with the other competing products of another different organization entirely. The organization develops strategies that will help them be able to ensure that they can create awareness to the people in a manner that will ensure that their products sell more than their competitors.
Ritz Carton organization has over the years proved to its customers that they could provide services that are unique and cannot be offered by any other competing organization. The fact that Ritz-Carton can provide the best customer service that is in a way customized to the preference of the client makes them be the best in the market (Eliscu, 2013). For the organization to achieve the best customer service to their clients, they can ensure that they train their staff on the kind of skills that they require. Ritz Carton will have to make sure that they train all their workers on the specific skills that will have to make their employees be able to offer the best and unique customer service.
Ritz Carton management also allows staff to spend up to $2000 at the point of ensuring that the clientās specifications are met, and they are left satisfied with the service. It is with the sense that the organization is always focused on ensuring that the interest of the customers is their priority. Ensuring that the customers are well served, and all the complaints are attended to accordingly be what makes Ritz Carton organization unique in a way. The organization is also in the position to carry out an interview with their customers so that to know their feedback from the kind of service that they were offered by their staff.
Target Market and Bases of Segmentation of Ritz Carton
Ritz Carton organization has been able to focus a vast number of population in the entire United States and the whole world. The fact that the organization offers online bookings and reservations, it can target a large number of customers. The organization ensures that it is in the position to cater for all types of customers they receive. The biggest target market of the organization are the travelers, tourists and at the same time business class individuals (Keller, ApeĢria, & Georgeson, 2012). The organization has been able to ensure that they adequately divide their potential customers accordingly so that they can provide the kind of service their customers require.
The fact that the organization receives different types of clients who range from officials to nonofficial it means that they are classified in a manner that they are all taken care of in the way that best suits them. The organization has been able to segment their customers according to the activity and reason for their visiting. The organization ensures that all the customers who come in for a vacation or leisure are all reserved in a similar place in the hotel (Kim & Mauborgne, 2015). The clients who have visited with the reasons that are official like business or attending conferences are also booked at the same location. All this is done so those to ensure that all their customers have the privacy and peace of mind that they require.
Issues of the Case about Marketing Principles
Marketing principles are fundamental guidelines that an organization follows so as to be able to achieve their set goals. From the case of Ritz Carton organization, it is seen that they can organize their operations and their marketing strategy in a way that they will attract more customers. The organization has been able to focus on their products and services by ensuring that they make the products available for the customers. The move is one that has followed the 4Ps of the marketing mix (Penner, Adams & Robson, 2013). The marketing mix has been put into consideration by the organization as they have ensured that their products and services are available and offered to the customers at the affordable price.
Practices Represented in the Case of Ritz Carton
Ritz Carton organization is one of the luxurious hotels that offers the best accommodation services in the United States of America. Over the years it has always tried to ensure that the kinds of services that are being offered at the organization are the best and up to the professional standards. Practices of that nature carried out in the organization represents the best practices. This is because they have placed the company on the top position both in the market and in the industry. The organization has been focusing on improving all customer services they offer to their clients. Ritz Carton organization has always believed that, it is the type of customer service that an organization provides to client will have to determine if they will come back or if they will also be able to recommend you to another new customer (Smith, 2015). The practice can accommodate the marketing theory whereby the method can incorporate the 4Ps of marketing. Ritz Carton organization ensures that their products are of exceptional standards to appeal their customers and also to refer their colleagues, friends and family members to the services of the company.Conclusion
For an organization to perfectly fit and compete in the changing market, they have to adopt a strategy that will make them unique and different from the other companies. Marketing is the key strategy of an organization that will either sell the organization or makes the organization fail. Just like Ritz Carton, they have adopted a marketing strategy that is unique to them, and that ensures that they retain their customers and at the same time attract new customers.