Pricing strategy of the taj hotels in usa according to consumer behaviour
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Marketing Mix of Taj Hotels analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Taj Hotels marketing strategy. The article elaborates the pricing, advertising & distribution strategies used by the company.
Let us start the Taj Hotels Marketing Mix:
Product:
Taj Hotels is one of the leading hotel chain based out of India. The Taj Hotels brand consists of 90+ hotels and resorts in India and around the world as a part of its marketing mix product strategy. It has 80+ of them in India and 10+ in countries outside India like Singapore, Malaysia, USA, UK, Maldives, etc. While the brand was mainly into the hotel business, it forayed into various other areas later. Taj Hotels opened its first resort in 1974 at Fort Aguada, Goa. Around the same time, they tried an entirely different idea. They started converting Indian palaces to Hotels to give them an authentic royal touch. Some palaces which were included in the Taj Hotels were Lake Palace in Udaipur, Rambagh Palace in Jaipur, Falaknuma Palace in Hyderabad and Nadesar Palace in Varanasi. The hotels come under three main categories – Luxury, Business, and Leisure. Also, there are three names that the Taj Hotels operate under in India, namely Taj, Vivanta, and Gateway. The hotels live up the luxury status it has and it can be seen in the atmosphere on the premises, the services they offer, the amenities in the rooms, the common area
Price:
Taj Hotels caters to a group of people who have refined and luxurious tastes in their travel and business. These are the premier group of hotels aimed at providing an unmatched and unique experience to their guests. They are priced higher than the hotels in the same category. Taj Hotels are the market leaders in the sector and have gained a name worldwide. Their target customers include the upper middle class to upper-class individuals. The brand is known for luxury, excellence, quality, leisure and hence follow premium pricing strategy. The three sub-brands of Taj, namely Taj, Vivanta, and Gateway have different levels of service and luxury where Taj is the highest and Gateway being the lowest among the three. Taj is the flagship brand which provides the highest level of luxury service, Vivanta being the contemporary luxury brand and Gateway the mid-market brand. It is aimed at providing service to the upper strata of the society. It is just not the service that the brand charges you for but the experience
Let us start the Taj Hotels Marketing Mix:
Product:
Taj Hotels is one of the leading hotel chain based out of India. The Taj Hotels brand consists of 90+ hotels and resorts in India and around the world as a part of its marketing mix product strategy. It has 80+ of them in India and 10+ in countries outside India like Singapore, Malaysia, USA, UK, Maldives, etc. While the brand was mainly into the hotel business, it forayed into various other areas later. Taj Hotels opened its first resort in 1974 at Fort Aguada, Goa. Around the same time, they tried an entirely different idea. They started converting Indian palaces to Hotels to give them an authentic royal touch. Some palaces which were included in the Taj Hotels were Lake Palace in Udaipur, Rambagh Palace in Jaipur, Falaknuma Palace in Hyderabad and Nadesar Palace in Varanasi. The hotels come under three main categories – Luxury, Business, and Leisure. Also, there are three names that the Taj Hotels operate under in India, namely Taj, Vivanta, and Gateway. The hotels live up the luxury status it has and it can be seen in the atmosphere on the premises, the services they offer, the amenities in the rooms, the common area
Price:
Taj Hotels caters to a group of people who have refined and luxurious tastes in their travel and business. These are the premier group of hotels aimed at providing an unmatched and unique experience to their guests. They are priced higher than the hotels in the same category. Taj Hotels are the market leaders in the sector and have gained a name worldwide. Their target customers include the upper middle class to upper-class individuals. The brand is known for luxury, excellence, quality, leisure and hence follow premium pricing strategy. The three sub-brands of Taj, namely Taj, Vivanta, and Gateway have different levels of service and luxury where Taj is the highest and Gateway being the lowest among the three. Taj is the flagship brand which provides the highest level of luxury service, Vivanta being the contemporary luxury brand and Gateway the mid-market brand. It is aimed at providing service to the upper strata of the society. It is just not the service that the brand charges you for but the experience
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