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Banyan Tree Hotels and Resorts: marketing, target, competitors, promotion, brand

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1. How would you describe the appropriate target market(s) for Banyan Tree? How wide is its geographical reach-local, regional, global?

2. In these markets, who are the main competitors? What are the competitive advantages of Banyan Tree (country-or firm-specific advantages)? Disadvantages?

3. How important is the brand name to the target customers? How important is it for the brand to be considered local versus global?

4. What alternative kinds of promotions are most likely to build brand equity further? How can product/service extensions do the same? What are the pros and cons of each? How would you evaluate the choice to launch a second brand-a good idea or not?

5. How would you evaluate the probability of success in building the brand equity of Banyan Tree further? Any threats that could derail the effort? What would your recommendation be for the next few steps in the brand building effort?

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1. How would you describe the appropriate target market(s) for Banyan Tree? How wide is its geographical reach-local, regional, global?

The target market for Banyan tree is the premium market. These are couples that are well off and are able to pay $2,500 for four nights. The target audience is couples that are interested in romance and appreciate the finer things in life. Moreover, these are people that want excellent service but not at a very high prices. Those that are looking at a place to relax are the persons that come to the Banyan Tree.

In general the target segment was those in their 30s and 40s that wanted luxury accommodation that stressed romance, intimacy, privacy and rejuvenation. It targeted those that sought private individual villas that had love-nests for couples.
Some other target audiences are corporate clients. The companies could hold their corporate meetings, retreat or special conferences at the Banyan Tree. The target audiences were high spending companies like financial companies, information technology companies and aerospace industries. Banyan Tree also targeted companies that wanted to conduct off site training programs including team-building programs.

The reach of Banyan Tree is global. The season is that its sales offices are located in the USA, UK, Thailand, Taiwan, South Korea, Singapore, Japan, Hong Kong, Australia and Germany.

In short, Banyan Tree is targeting high end, premium customers that are seeking a few days of privacy among exclusive surroundings. Those that are seeking luxury at reasonable prices are the targets of Banyan Tree. Such couples are spread all over the world and belong to the upwardly mobile and successful person in their 30s and 40s. Companies that are seeking an off site venue for training programs are also targets for the Banyan Tree.

2. In these markets, who are the main competitors? What are the competitive advantages of Banyan Tree (country-or firm-specific advantages)? Disadvantages?

The main competitor of Banyan Tree is Aman Resorts, Four Seasons and Ritz Carlton. The other competitors are Le Royal Meridian Phuket Yacht Club and resorts within Laguna Phuket. These competitors are based on location. The competitors had the advantages of offering room rates as low as $150 per night. Moreover, the ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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