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In this report, Banyan Tree and its development was evaluated.

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Introduction

Banyan Tree Report BMA5505 Services Marketing NUS BUSINESS SCHOOL AUG '04 Agrawal Manoj Kumar Das Indranil Goel Sudhir Thia Chang Liang Toshniwal Ritesh 1. TABLE OF CONTENTS Executive Summary ................................................................................................1 1. Main Factors that Contributed to Banyan Tree's Success 2 2. Banyan Tree's Brand Positioning and Communications Strategies 3 3. Analyses of the Brand Portfolio of Banyan Tree, Angsana, Colours of Angsana, and Allamanda 5 4. Recommendations to Banyan Tree for Managing its Brands and Products in future 7 5. Conclusion 8 Executive Summary In this report, Banyan Tree and its development was evaluated. Under the leadership of Mr. Ho Kwon Ping, Banyan Tree was positioned to cater to a niche market segment that wanted private and intimate accommodations without the expectation of glitzy chain hotels. After that, Banyan Tree started operations in the luxury resorts market in Phuket and subsequently expanded to Bintan and Maldives. Its success can be attributed to that it knew what the customers value, created the brand and applied that understanding to shape a truly differentiated customer experience with the "Banyan Tree Experience". After establishing a foothold in the luxury resorts market, it introduced other services. Each time, a different brand, like the Angsana brand, to provide the spa services, is launched, care is taken so that the original brand focus is not lost. In the same period, it has also trained a good team of staff to uphold the brand and the values that it carries, so that the customer experience would be the best. The marketing communications strategy is a highly effective one. When Banyan Tree was first launched, extensive advertising was carried out for a short period of time to generate brand recognition in the industry. Later, global exposure was also achieved through Banyan Tree's membership in the Small Luxury Hotels and Leading Hotels of the World. Subsequently, the advertising was mainly in high-end travel magazines in key markets. ...read more.

Middle

Banyan Tree's value proposition was romantic and intimate getaways, away from the real world into a private world. Thus to avoid over-exposure of the brand to the audience and to avoid dilution of brand name, subsequently, the company scaled down on advertising and kept it minimal. The advertising mainly was done in high-end travel magazines in key markets. For a better appeal and to generate credibility, the advertisements were visual in nature with succinct copy or showcase the awards and accolades won. Banyan Tree experience was different than anything else anybody had imagined for romantic escapades. Banyan Tree was aware of this and knew that they will get good word of mouth publicity if they delivered the dream they were promising. Banyan Tree hit upon an effective way of generating publicity so that 'Banyan Tree Experience' can reach wider audience. It started developing relationships with travel editors and writers who were encouraged to visit the resorts. This helped increase editorial coverage on Banyan Tree, which was more effective in conveying the 'Banyan Tree Experience' from a neutral party's perspective. To keep consistency in the brand building exercise, management of marketing activities was centralized at the Singapore headquarters. To avoid dilution of the brand name, a few key wholesalers in each targeted market were appointed and Banyan Tree worked closely with them to promote sales. Banyan Tree has always put in efforts to encourage environmental conservation and help save the environment. To effectively and succinctly communicate this to its customers, Banyan Tree organized activities that involved guests' participation to create more interest in environmental preservation. Thus the guests left Banyan Tree not only with good memories of the romantic time spent on its resort, but also with a sense of gratification towards Banyan Tree for being a corporate that understands its social responsibilities. Thus we can see that Banyan Tree's marketing communications strategy is a highly effective campaign that focuses on attracting customers through the unique 'Banyan Tree Experience' which not only means romantic moments ...read more.

Conclusion

* Treat Individual Brand as individual business- Though the basic core values should blend well, financially treat each brand as individual business so as to evaluate performances accordingly. This will help finding ailing business/ brand, if any, and fix the issues accordingly. * Explore New Shore - Banyan Tree has become a quality holidaying icon in Asia. It should now explore American as well as European shores in order to be a truly global player. Or even touch grounds in Africa to cater to the need of those looking for unexploited natural places. Banyan Tree is not playing on cost based pricing, therefore it shouldn't worry much about the cost of entering into either American or European markets. Just try to replicate its Asian business model of starting small. It's in the services offering business that is the toughest business to emulate. Banyan tree should use insights it might have generated with its American/European guests to expand into Europe/America. The Banyan tree guests, with unforgettable experience, but infrequent visitors to Asia, might be pleased and can be "return guests" to its locations in Americas/Europe. A loyalty program to make them brand ambassadors' might be a good additional start-up strategy. 5. Conclusion The success factors for Banyan Tree has been studied and listed in this report. Having a sound brand positioning and good communication strategy, Banyan Tree is still expected to maintain its unique positioning in an increasingly overcrowded resorts market. The full brand portfolio of Banyan Tree, Angsana, Colours of Angsana with exception of Allamanda, they fit in the company's vision of providing guests with unique, romantic and intense experiences. Under the leadership of Mr. Ho Kwon Ping, the company should be able to remain the leading manager and developer of niche and premium resorts, hotels and spas in Asia Pacific. For the future, Banyan should stick to the fundamentals and leverage its expertise to explore other brands as well as other American and European shores for good sites. Services Marketing Banyan Tree National University of Singapore Page i National University of Singapore Page 8 ...read more.

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