Banyan Tree Brand Analysis
a. Internal Analysis: SWOT Analysis
Ø Strengths
Banyan Tree is one of the leading brands in luxury spa and resorts in Asia Pacific region. Moreover, it has a trained pool of staff, which actually helps in preserving quality of service standards. Till the date Banyan Tree has won more than 300 tourism awards for its premium quality (Lu, 2004). Another key strength is that the theme of local culture and crafts is implemented at the resort for the attraction of the more and more tourist. Banyan Tree has its own research department in Maldives, which researches about saving the marine life, and hunt for future tourism opportunities.
Ø Weaknesses
It has been noticed that they have been adopting the aggressive strategy sometimes which increases the stress level of the management. Moreover, there are some communication issues which were found between the Asian employees. These both issues needed to be solved immediately so that there would be no gap and stress among the employees (Kotler, 2012).
Ø Opportunities
Banyan Tree can globalize its business in the western countries as well, which would increase the customers reach and enhance brand image. The thought of Eco-friendly environment would help in targeting more potential customers. The quality service would draw more peace lovers towards the resorts (James, 2001).
Ø Threats.
For Banyan Tree, the increasing trend of luxurious and resort places with the tag of Eco-friendly is making the rivalry more and more intense (Bernadette, 2007). The rates of Banyan Tree are relatively higher as compared to its opponents in some countries.
Value Chain Analysis
The targeted population of Banyan Tree is dedicated on 3% of the population, which are the wealthiest people across the globe (Koichi, 2009). As, these categories of the overall population choose to live in a relaxing place across the world, which is typically found away from the urban areas, and near towards the country or rural sides of the world. Due to their individuality and exclusiveness, these types of clients always want to spend their earnings entirely, which can provide them luxury and comfort (Quincy, 2013).
Study and research is a vast field, which is divided into many various sectors. According to the latest research, 97% of the total population in the entire globe fall into the bracket of average population of both rich and normal populations of the world. The rest of the 3% of the population falls in the category of elite and richest population of the world. These people live to complete their all passions and dreams. The requirement of the comfort and luxury of this population has increased the concern of Eco-friendly concept in the world. Banyan Tree is one of those organizations, which is putting their efforts to provide all luxuries and comforting products and services to the wealthiest people of the world in an Eco-friendly manner. This would complete the need of their target population, and would help in keeping the world a nice and clean place to live . On the other hand, this has become one of the most profitable tactics in the marketing field; therefore, most of the companies and industries in the world are adopting the trend of Eco-friendly, and making the world clean together (Goldstein, 2005).
INTERGRATED MARKETING COMMUNICATIONS PLAN
Ø Target Audience
The audience, which needs to be targeted by the company is the both upper middle and upper classes. Their brand has been positioned for high class people (Simon, 2012). The Chinese billionaires actually lie under this umbrella. Since it is one the favorite and preferred brand in the tourism industry so price which they charge is according to the facilities they offer. Therefore the plan should be developed as per the targeted audience portfolio and brand positioning. The targeted audience must be targeted through direct marketing, BTL’s and other advertising mediums.
Ø Communication Objectives
The main objective of the communication is to increase the market share in Chinese market specifically in Qingdao and Chengdu. Moreover, the communication would also help in showing the true color of this dream place and would also enhance the brand image (Atlow, 2011). Furthermore, it will also play a vital role in reducing the communication gap between the employees and the customers. Another core objective would manage the demand in low seasons. Additionally to overwhelm the ambiguity by communicating unique selling proposition, i.e. the romantic and exclusive ambience which is offered by the resort (Hargett, 2001).....................................
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