An Analysis of Strategic market positioning of Bangladesh Hotel and Hospitality Management: A study on The Palace Luxury Resort
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The strategic market positioning explains the capability to strategically impact the awareness of the consumer with respect to a brand or a product to reduce the competition that exists within the industry. The market positioning objective is to create a brand identity so that it can be perceived by the consumers in a certain method. A well-established organization usually pass the struggle that has an equivalent offering to the consumers. The company should clearly articulate what it does, why it is relevant and how differently it helps customers make better and faster-buying decisions. Although the situation of each company is distinctive, there are common marketing and business criteria’s exist for the success of an organization. In Bangladesh, hotel management, tourism, and hospitality become so popular, as there are many natural beauties throughout the country. The Palace Luxury Resort, located in Bahubal, Sylhet, has also become a very popular holiday resort that offers an expensive lifestyle to its consumers. The study seeks to analyze the strategic positioning in the Palace Luxury Resort market by analyzing three broad marketing perspectives. They are (a) Company vision, which consists in analyzing the basic information of the company and the marketing combination (A combination of marketing is any action or strategy that a company uses to promote its brand or product in the market. 4P is a typical marketing mix: price, place, product, and promotion). (b) Customer Insight consists of an analysis of the STP model (segmentation, targeting, and positioning) of the Palace Luxury Resort. (c) Analysis of the competition that consists of the analysis of the bearer of five forces to evaluate the competitive external environment of the Palace Luxury Resort. Finally, some suggestions based on the improvement of the Palace Luxury Resort are included.
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