Marketing Plan for Ritz Carlton Hotel
Our main objective is to develop a marketing plan for a hospitality business. The succeeding marketing plan will focus on the Ritz Carlton Hotel. The plan will include situation analysis, SWOT analysis, the objectives and strategies for marketing, an action plan, and a proposed budget. An evaluation of the marketing plan will also be conducted to determine the viability of the plan. Ritz Carlton Hotel is a luxury hospitality business that has established its brand internationally. Ritz Carlton has 89 properties in 29 different countries, and employs 35,000 employees. The hotel, which was established in 1983, is a division of Marriott International. Aside from hospitality services, Ritz Carlton also offer spa services, sports (golf), residences, and hospitality service training (The Ritz-Carlton Hotel Company, 2015).
Ritz Carlton competes with various hotel luxury brands such as the Four Seasons Hotel, Hyatt, and Starwood Hotels and Resorts (Uysal & Williams, 2013). In a survey conducted in 2010, 53,000 guests that participated in a survey ranked the Ritz-Carlton as the brand with the best luxury service compared to other brands (The Economist, 2010). Since it operates in the luxury market, Ritz Carlton caters to business or corporate travelers and families from the upper middle to upper classes.
Ritz Carlton’s strength is brand equity. It is a recognizable brand around the world with a widespread global presence. With adequate and capable employees, Ritz Carlton expertly caters to its customers, thereby, yielding high customer satisfaction. Ritz Carlton is also known for commanding brand loyalty because of the quality of its services and rewards programs (Morley, 2007).Ritz Carlton’s weakness is that it is a luxury brand, which is problematic considering the state of the economy. A declining economy means that less people have the capacity to afford luxury services. Another weakness is high employee turnover that significantly affects company operations (Kaufman, Lashley & Schreier, 2009). Opportunities for expansion exist for Ritz Carlton. The brand may expand in other countries, particularly the Asian market, in the coming years (Oh, 2009). On the other hand, threats to the brand include the declining economy.
Objectives and StrategiesMarketing objective
The marketing objectives for Ritz Carlton is to tap into social media to increase online presence (Lussier, 2011; Parr, 2015). Positioning statement: Ritz Carlton aims to position the business as a contemporary brand that is responsive to the needs and concerns of customers and is capable of adjusting or accommodating the needs of customers in a contemporary society. To accomplish the goals of the plan, Ritz Carlton will redesign its website and launch or re-launch location- and department-based Facebook and Twitter pages. The Ritz Carlton will also improve social media content through various strategies including Search Engine Optimization (SEO).
Evaluating the outcomes of the marketing plan will depend on the response of online users after the launch. The audience for Ritz Carlton’s website will be assessed prior and after the launch to determine the viewership and ratings (in terms of number of “likes” and followers).
The Economist. (2010). …