ECBM 7007 Project: In-Depth STP Analysis of Marriott's Business Model

This project provides an in-depth STP (Segmentation, Targeting, and Positioning) analysis of Marriott International. The study explores the importance of market segmentation in identifying customer groups based on characteristics like age, income, and behavior. It also examines how Marriott targets specific customer segments with tailored marketing strategies to increase efficiency and understand customer needs. The research delves into Marriott's mission and vision, business model canvas, and market analysis, including primary research findings. The project uses a literature review and questionnaires to gather data. The findings highlight the significance of STP in the hospitality sector, emphasizing its role in developing effective marketing measurements and strategies. The analysis concludes with recommendations and limitations, offering insights into Marriott's strategic approach to customer engagement and market positioning.

STP analysis of MARRIOTT
Topic: To determine the importance of segmentation, targeting and
positioning in a business. A case study of Marriott.
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Executive Summary
Market segmentation consists of dividing a large peer market of potential customers into clearly
identifiable segments. Customers are differentiated on the basis of similar characteristics that
meet certain criteria or have the same product needs. Segments include customers who respond
similarly to your marketing strategy. They share common interests, needs, wants and desires.
Most businesses do not have enough resources to enter the mass market. That's why you need to
target specific marketing cycles where your product is needed. They divide the market into
similar segments that can be identified by market segmentation. Using market segmentation
helps marketers focus their company on specific groups of customers rather than mass markets,
which simplifies campaign planning. Segmentation helps marketers use time, money, and other
resources to increase efficiency. Market segmentation helps businesses know more about their
customers. They better understand the needs and desires of their customers, so they can tailor
their campaigns to the segment of customers who are likely to buy the product.
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Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Mission & Vision.............................................................................................................................5
Part 1 Business Model Canvas........................................................................................................5
Part 2 Company Summary.............................................................................................................14
Research Objectives...................................................................................................................14
Research Questions....................................................................................................................14
Part 3 Market Analysis Summary..................................................................................................15
3.1 Designing the questionnaires...............................................................................................15
3.2 Circulating the Questionnaire..............................................................................................16
Part 4 Findings and outcomes........................................................................................................21
4.1 Findings from literature review........................................................................................21
4.2 Findings from Primary research.......................................................................................21
Part 5 Providing the final results with limitations and recommendations.....................................26
Conclusion.....................................................................................................................................27
References......................................................................................................................................28
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Introduction
Today, Segmentation, Targeting and Positioning (STP) are an essential natural approach in
modern marketing. This is one of the most discussed motivation models in practice. In our study
getting some insight into the most recognizable advertising model is the second main stream in
general, just hit by the popular SWOT / TOWs network. This ubiquity is moderated later than
already, promotion approaches were more based on the subject rather than the customer. In the
1950s, for example, the main form of advertising was "separation".
The STP model is invaluable when it comes to promoting compatible plans because it requires
advertisers to make suggestions and subsequently create and communicate personalized and
relevant messages with multiple audiences. Additionally, STP builds on business suitability,
selecting the most important cookies for an industry and subsequently building a mix of
presentation and item placement method for each segment.
STP is also relevant to computer advertising on a more strategic letter level. For example,
implementing show business personalities can help grow more important advanced exchanges, as
evidenced by this strategic option of sharing nearby email. This look from Dave Chaffey of
Smart Insights in his book Digital Marketing: Strategy. Usage and application show how
segmentation, targeting, and positioning relate to a computer promotion system.
As the managing director of Marriott hotels, the researcher sees that further analysis of critical
advertising as STP practices, which from an individual perspective has consistently been
interesting and broad, raises a necessary perspective for him and strengthen knowledge of
earning potential and appropriate promotion of an instrument on which due verification is due as
above. Likewise, considering access to information for this purpose, this particular point and link
was decided for research.
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Mission & Vision
Vision:
The founders of Marriott International believed that the best way to achieve the success of great
global service is to present a vision that is simple enough to be easily implemented and followed
across the organization.
Mission:
The company's goal is very simple. It is about inheriting state-of-the-art expertise in the service
sector. Marriott International is committed to becoming the preferred travel agency for the global
public. It is this vision, work culture, and business ethics that have made the company's success
possible.
Improving customer life
The key to the long-term success of any service company is to provide quality service to its
customers, which means choosing a brand. Marriott International believes in improving the lives
of our customers and providing premium services, making it a profitable company in the long
run.
Create and provide unmatched relaxation and recreation
To retain customers, Marriott International is committed to providing value for money to
customers. They do this by creating a holiday and hotel experience full of comfort and pleasure.
Part 1 Business Model Canvas
Intensive and complex writing research is the institution and motivation for generous and
valuable study "and can be characterized as a specific study area for guided study with powerful
selection and evaluation of accessible reports. Conducting written analyzes helps analyzing past
work, identifying holes, evaluating and combining accessible data, providing reasoning for work,
identifying connections and coming together and seeking new lines of work (Islam, 2020).
As this paper proposes to examine current division, targeting and positioning (STP) models,
using writing analysis as a tool, accessible writing will be evaluated to build a solid knowledge
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base. This is currently being implemented in a neighborhood area and, once an appropriate
model is identified, it will be further used to evaluate the standard STP measurement used by
Marriott to make recommendations. Typically, the structure of writing studies can be
comprehensively organized into 4 classes, for example, Sequential Pyramid, Classic Study,
Subject or Subject or Inverted. As this study begins with an overview and becomes limited as it
comes, the reorganized pyramid model suggested above will be appropriate as the framework for
this document and an effective model will be used by studying STP .
The decision of the writing will be reviewed and validated in some way. The writing used for the
article is written using rules, for example, importance and relevance, since the research centers
are not based on a hypothetical model, but largely appropriate for STP. Saputra (2020) suggests
that the material used for the study should be coordinated using curiosity such as a paper trail,
separation of reports, a study framework and a union that the scientist intends to continue as it is
a general and appropriate approach recommended by assessment sources.
The study is broadly divided into four areas, the first three being category, focus and location.
The fourth area discusses the connection of these three; burying trust and relevance to the realm
of friendship. A five-category ranking model that includes inclusion, integration, methodology,
centralization and speech is used as a criterion for the organization of experiments during the
period in which several creators mocking him for being the best (DIXIT, 2020).
Influence of STP over the company performance
According to the view point of Islam, 2020; STP Marketing represents division, focusing on and
situating. STP Marketing makes the way toward advertising simple. It is extremely
straightforward and applies in business. The primary objective of STP Marketing is to draw in
the client and not exclusively to pull in the client yet in addition getting the correct client who
will be keen on our item. To begin with, we will partition the gathering into fragments and
afterward we will focus on that section that will be keen on our item and afterward we set up our
item as indicated by the requirements of the focused on portion (Diaz Ruiz and Kjellberg, 2020).
Segmentation
According to the analysis; Market division is the examination that characterizes whether the
business isolates its customers or segment into more modest gatherings dependent on highlights,
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for example, age, pay, character qualities or conduct. These classes can be utilized later to tailor
products and publicizing for various clients.
Market division is the exploration that characterizes whether the business separates its buyers or
segment into more modest gatherings dependent on highlights, for example, age, pay, character
attributes or conduct. The division of promoting implies parting the market into segments that
speak to client needs and needs (Rosyida et al 2020).
The significance of segmentation has been widely discussed in different contexts. It is widely
regarded as an essential and fundamental part (FITRIYANI, 2020) that helps take care of a
variety of clients. The opinions of different creators can be summarized by saying that
differentiating the outputs of the products, understanding their needs and identifying the
innovations to be zeroed in those requirements make the reliability of the brand a good cause for
the business because it reaches an equally essential strategic position. The current financial
situation is exacerbated by the shift of the conflict of values into a declining economic sector
which increases the need to separate from non-monetary measures. Without statistical analysis or
unintended efforts, organizations have a greater potential for disappointment, for example
Enron's Indian market route.
In light of hospitality sector, the need for division is equally important to other sectors. This is
the first step in developing a measurement that will increase the validity of a valid system,
evaluate / change the administration and promote the use of spending. As pubs have a unique
approach from time to time, most lodges end up serving a few sections, so a powerful STP
approach is usually appropriate for successfully coordinating donations and item administration.
It is also seen as a crucial start to building a segregation method in a neighborhood (Demidova,
Gusarova and Kulachinskaya, 2020).
Doubtfully, a number of creators have examined the appropriateness of the separation in the
operational realities of the industry due to the deception of professionals and scholars in
determining the authenticity and safety of a quotient, its ability to adhere to objectives
specificity, and lack of overview models. The need to show the greatest benefit in the centralized
segments against business losses with the disproportionate ones similarly underlines an
assessment against a hypothetical sharing approach (Lestari, Baktiono and Wulandari, 2020).
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We therefore tend to see separation as an integral part of a presentation and most of the analysis
focuses on the inability of hypothetical models to work in all ways and be valuable. for
productivity and efficiency, without which the STP assumptions are seen as paramount in all
operations, including accommodation facilities. A basic and measurable STP model should be
used to overcome any barriers that make up this analysis (Yanti and Saraswati, 2020).
A study by FITRIYANI (2020) confirmed this fact and built a divisional model that separates the
operational and critical sector. They identified the steps and the separation system used at
different stages in relation to external and internal separation. (See figure 2).
Targeting
According to the analysis; Target advertising is specialty explicit promoting. The specialty did
not depend on items however clients. You need to distinguish your potential clients who will buy
your item dependent on their necessities. There are around 7 billion individuals on earth. You
can't offer your item to all individuals since they are not keen on buying. That is the place where
target promoting works (Wahyuni, 2020). With the expansion in market fragments, increment in
rivalry and change in buying intensity of individuals, it is important to utilize the various sorts of
advertising methodologies to impact possible clients.
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The importance of target market decision making in general was discussed (and it is essential to
develop a measurement piece as it gives the company an accurate idea of how many and which
sectors would be most important). It must therefore be reiterated that Chen and et al (2020) state
that the market response is speculative in nature and that there is no legitimacy for the choice of
a type of focus more than one in New Zealand showed that target promotion had little impact and
fewer contracts came from a targeted market than elsewhere (Das, 2020).
Is this analysis correctly justified for the reason that the selected contextual studies are thematic
and inconclusive and because it is difficult to examine the benefit of a synthesis model but in two
in fact a particular model would produce a specific product and the target quotas seem to be
advantageous. So a powerful focus could be seen as a fundamental piece of resolution
measurement.
Target market selection tool:
There are different types of focus on the approaches that some creators offer. Although Rosyida
and et al (2020) listed five specific categories such as single cookie focus, specialization, article
specialization, market specialization, and full market inclusion, Susilo and Wasnardi (2020)
offered only two conclusions: single division system, multi-segment approach. Different groups
have skillfully selected different systems, e.g. Coca-cola initially changed its overall market
membership and changed to specialize, sports channels such as ESPN, Sky Sports center around
the one-service approach that covers sports lover’s specialists. But a pub or two of limited range,
the particular system is not very common in a friendship area. As a result, it has been found that
the accommodation usually follows a multi-chip procedure (De Villiers, Tipgomut and Franklin,
2020).
Whatever approach the company may take, a logical strategy is essential for evaluating the
accessible cookie to select a better one, which will be addressed by focusing on the models
advertised. The more detailed model found is a study of ration thinking on two hubs, one that
focuses on "the segment of needs satisfying" and the other that looks at "opening up". From that
moment on, a number of models have been created to help organizations choose the bias of the
segments (FITRIYANI, 2020). The model-oriented Starbucks are in high demand. The basic
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covert strategy for the development of each of these methods can be summarized in the
clarification of two essential models.
1. The Segment Evaluation Matrix
The Fragment Assessment Matrix (SEM) is based on the specific work of Rosyida and et al and
was also developed by Susilo and Wasnardi to classify target sections based on portion
dependence only. This model evaluates a segment under two levels, for cookie capacity and
portion size. Standards are selected, weighted and used to score sections, after calculating that an
SEM rating is drawn. Depending on the position of the target segments on the pivot, the required
targets are selected.
2. Directional Policy Matrix
The Management Policy Matrix (DPM) is developed by the BSG division grid and is best
reproducible as it incorporates a series of steps to identify both pivots. The operation of the
models is similar to SEM's work in that it designs rations based on industry characteristics into a
flat pin that is unique to relative piece of piece, intensity value, R&D ability, item quality,
intelligence market and so on.
Positioning
According to the analysis; this is the last advance of the STP Marketing measure position implies
place. In straightforward words, situating in the market implies where your item remains on the
lookout it implies how our item stands not quite the same as different items on the lookout and
how it is superior to our rival's item. Great item situating will consistently procure brand-faithful
clients. It implies clients will consistently incline toward item over contending brands. They will
in every case over and again purchase item. At the point when the organization dispatches an
item, a brand faithful client consistently needs to purchase that first (Chen et al 2020).
In the neighborhood, of course, the situation was seen as a pre-focus level, as advertisers
suspected it was reasonable to position them first and then focus on pleasing parts of that image.
The situation has since been seen as an essential dynamic element intended to give the buyer the
usual meaning of a pub. In a document that was considered one of the most common publicity
documents of the 1980s he describes the situation as a work of image creation, agreeing with
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Yanti and Saraswati (2020), adding that it is an idea and focuses on the fact that the view of it is
possible and may be different with real help, which is important for a range of relationships.
Thus, a situation can be identified as an essential dynamic circle that enables the communication
of an idea, a unique representation of the society that drives purchasing choice for customers. In
the neighborhood, the distinction between intuition and reality is fundamental. In this age of
exalted and useless specialist colleagues, segregation is no longer the second stage of the
business cycle, as it is crucial to the first, struggle (Haryanto and Suhaimi, 2020). The group can
see the difference through a successful placement approach. The requirement for space has also
been identified for a long time in the Hospitality area. Since administrations in general will have
a lasting intellectual and lasting impact on the client rather than substantive elements, the
creation of the right intuition is a fundamental requirement. Its consistent research and extensive
application to business by scholars and advertisers confirms the importance of position and
relevance in the current market. Thus it very well may be seen that most writing till date suggests
that situating is basically basic component of showcasing and a need for friendliness industry
(Chowdhary, Kaurav and Sharma, 2020).
Positioning Concept – Differentiation
To avoid the temptation, it should be noted here that the further clarified and explored idea is
“Market Situation”, which means poor maintenance of two attacks its competitors and not “brand
positioning”, which is done after sales by positioning and involving the creation or alteration of
the image of an article through advertising. The robust positioning system relies heavily on being
identified by target market assumptions, for which further analysis is often required, and not on
rethinking by administrators that usually yields dire results.
 Image Creation:
The question of recognizing a person's personality is a necessary step forward before drawing a
picture such as "You can't identify an administration that has no idea what it should be". Interior
climate analysis and an overview of consumer understanding are important tools to identify the
image of the pub. As stated before the understanding of users, administrators should not
speculate, but with the help of user experience (Sultana, 2020).
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The buyer usually has 3 credits for an item or image such as Notability, Importance, and
Determinacy. As mentioned earlier in the section on partial use the driver as an example
Decision is crucial to any advertising idea. Visitor performance overviews or loyalty card
programs that lodges use can usually be compiled as a good basis for identifying and selecting a
photo.
 Differentiating:
Differentiation is evidence of making a handful of important differences in recognizing the
organization's contributions from competing contributions; it is a way of dealing with a high
hand by relying on an urgent difference in value to guide a messenger's decision and ultimately
expand the theology. In the current financial climate, companies in the cordial area are in
desperate need to separate and should resist the urge to defend only one value which signifies a
very important idea of segregation. However, separation alone is not enough as a separation
characteristic should at least be seen as an important quality if it is not striking (Waller, 2020).
The outdoor ecological study was seen as the first phase of segregation, which should also
include a concurrent study to find major holes in climate change market. Outdoor climate
monitoring does not have to be used once in a lifetime but without interruptions and continuous
updates.
Significance of STP for company growth
According to the view point of Chen and et. al, 2020; There is no one-size-fits-all solution. In
fact, even an organization like Coca-Cola, which operates in more than 200 countries and
delivers to over a billion people every day, offers a variety of items to cater for different types of
individuals. One mistake many organizations make is that anyone could be their customer.
Adopting this strategy can make it difficult for you to sell your item or your administrator as
none of your upcoming messengers will feel that your response fits them and their needs. To
make contracts easier, you can use the STP promotion model to segregate your market into
segments, select the most attractive segments, and then place your item or administration in the
mall until the cookies are in place.
It allows increasing sales by defining a specific target market and then placing the items directly
in those segments. It helps to identify the holes in the vantage point. It refuses to spend money by
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