Saturday, 27 April 2019
Marketing Strategy for Hyatt Regency Birmingham Research Paper
Marketing Strategy for Hyatt Regency Birmingham - Research Paper ExampleThere is forever a need to understand customers, but luxury hotels need to adapt their brand strategy in order to attract these to a greater extent cost-conscious customers and look at establishing ways of making the same brand more accessible (Brownsell, 2009). strategic direction is a challenge faced by all organizations whether there is a recession or not, especially when there exist opportunities or to help overcome major problems (Johnson, 2009 2). suspicion is inherent in strategy because nobody can be sure about the future. (Johnson, 2009 6) But a strategic direction helps to focus on a course of action and follow an integrated lift based on clear objectives and informed knowledge of the operating environment. This, of course, can affect the organizations operational decisions, involve a reconsideration of the relationships and networks, and can be complex reorientation requiring considerable change.Stra tegic directions at a competitive or business level deal with issues of pricing, competitive advantage, competition, collaboration, game supposition etc. Innovation or differentiation, for example, can be done through bettering the quality or an implementing a distinctive distribution channel.Strategic directions at a corporate level deal with market penetration, consolidation, growth development, market development, diversification etc. This includes cost leadership, differentiation, and specialization based on Porters generic strategies. It also includes e.g. geographical coverage, diversity of products/services, allocation of resources within the organization, expectations of owners i.e. Shareholders. Portfolio matrices viz. BCG (also known as growth/share), directive policies and other tools were used in the analysis prior to this report.