Essay About Marriott International And Inc.Marketing Research Audit Report

Marriott International, Inc. – Marketing Research Audit Report
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[pic 1][pic 2]MARRIOTT INTERNATIONAL, INC.MARKETING RESEARCH AUDIT REPORT[pic 3]EXECUTIVE SUMMARYMarriott International, Inc. is a company that has several brands and properties in the hotel and lodging industry across the globe in areas such as Americas, Europe, Africa, and Asia Pacific region. It is ranked as the second largest hospitality company and caters to diverse categories of people due to its numerous brands well known for their quality services and experiences. The company however suffered a heavy hit during the 2009 financial downturn which resulted in a fall in its overall revenues by up to 14%. Due to its international expansion and upcoming projects, the company has been able to recover with a boost coming from the growing international hotel and lodging markets.This report provides a brief market audit of the company and the various macro and micro-environments that govern its success or failure at large. The report dwells on:Overview of the companyCompetitor Profile MatrixCompetitor AnalysisSWOT AnalysisPEEST AnalysisThree main findings were obtained from the report which included that there was significant growth of international and foreign hotel and lodging markets, continued growth and training in managerial training, and a growing interest in eco-tourism. The company is therefore recommended to focus on expanding its corporation to reach the inland Asian markets such as China, Japan, and Indonesia; focus on tapping into eco-tourism by tapping into markets such as Brazil, South Africa and Canada; and finally invest in college and university programs in various institutions to ensure it is able to train an adequate amount of managers and staff TABLE OF CONTENTSEXECUTIVE SUMMARY        11.        OVERVIEW        31.1.        Mission Statement        41.2.        Vision Statement        41.3.        Core Values        42.        COMPETITOR PROFILE MATRIX        53.        COMPETITOR ANALYSIS        53.1.        Marriott International, Inc. Market Performance.        53.2.        Financial Performance        63.3.        Competitive Advantage        74.        SWOT Analysis        84.1.        STRENGTHS        84.2.        WEAKNESSES        94.3.        Opportunities        94.4.        Threats        95.        PEEST ANALYSIS        105.1.        Political Analysis        105.2.        Economic Analysis        105.3.        Environmental Analysis        115.4.        Societal Analysis        115.5.        Technological Analysis        116.        SIGNIFICANT FINDINGS        11RECOMMENDATIONS        12REFERENCES        12APPENDIX        13OVERVIEWMarriott International, Inc. is a fortune 500 global hotel group, founded by J. Willard and Alice S. Marriott in 1927, that prides itself in operating and franchising hotels and other lodging facilities. The corporation started as a small root beer stand located on Washington streets and later evolved into a hotel known as the Key Bridge Marriott within the DC area. It later grew into a leading hotelier, later established as a spinoff of the Host Marriott Corporation in 1993 and listed on the NYSE (MAR) and was estimated to have generated an annual revenue of $14 billion as of 2015. The corporation thus encapsulated the role of managing and franchising hotels. Currently, the organization has its corporate headquarters in Bethesda, Maryland and owns 5700 properties in over 110 countries worldwide. The principle brands managed by Marriott International, Inc. include:The Ritz-CarltonBulgari Hotels and ResortsEDITION-JW MarriottAutograph Collection HotelsRenaissance HotelsMarriott HotelsDelta Hotels and ResortsMarriott Executive ApartmentsMarriott Vacation ClubGaylord Hotels AC Hotels by MarriottCourtyard by MarriottResidence Inn by MarriottSpringHill Suites by MarriottFairfield Inn & Suites by MarriottTownePlace Suites by MarriottProtea HotelsMoxy Hotels The corporation currently groups its operations into three business segments namely: the North-American Full-Service, North American Limited-Service, and International. Mission StatementTo provide an exceptional lodging experience by demonstrating superior hospitality for our guests by putting people first, pursuing excellence, embracing change, acting with integrity, and serving the world.Vision StatementWe seek to be the world’s leading provider of hospitality services by treating employees in ways that create extraordinary customer service and shareholder valueCore Values To put people first.To pursue excellence.To embrace change. To act with integrity. To serve the world.COMPETITOR PROFILE MATRIXCPMIndustry WeightsHiltonMarriottStarwoodWyndhamRating RatingScoreScoreRatingScoreRating ScoreBrand Portfolio20%430.600.8030.6040.80Brand Recognition20%340.800.6010.2040.80Human Capital10%330.300.3020.2030.30Technology Adaptability10%440.400.4020.2020.20Reputation20%340.800.6010.2020.40Distribution15%340.600.4530.4540.60Rewards Program5%430.150.2030.1520.10Totals:100%3.353.652.003.20Rating Legend1 – Major weakness         2 –Minor Weakness        3 – Minor Strength        4 – Major Strength COMPETITOR ANALYSISMarriott International, Inc. Market Performance.Currently holds the second largest market share in the hotel and lodging industry which translates to approximately 13.7%. This is close to the leader, Hilton, which holds a market share of 13.9%. Some of its other close competitors such as Starwood and Wyndham rank fourth and fifth respectively and hold approximately 4.9% and 4.1% market shares respectively. This growth can be attributed to the broadening of its brands to foreign markets. By differentiating its services, it is able to provide five star, upper class services and utilities to its clients making its brand name familiar in high quality hotel brands even at locations suiting average pricing. Through the provision of high quality services, many of its consumers hold its brand name with high regard including the various brands that cover the middle-class market. This is especially brought out by its well trained and well-compensated employees. Its various initiatives such as ‘The Envelope Please’ also contribute to its success.