Embodying the finest luxury experience, The Ritz-Carlton Hotel Company, LLC has been established since 1983. In 1998, Marriott International purchased the brand offering it more opportunity for growth while being independently owned and operated. They are known for their enhanced service level as the motto states, “Ladies and Gentlemen serving Ladies and Gentlemen”. The luxury brand now carries 97 hotels and resorts internationally and is attempting to keep the aspects of luxury while keeping up with the trends of the technologically improving generations. The Varying Demographics of the Target Market The Ritz-Carlton’s typical target market includes: business executives, corporate, leisure travelers, typically middle-aged persons and elders, and families from the upper and upper-middle class section of society . This infers a large range of types of travelers in which all are similar in that they are not opposed to spending extra for the luxurious ambiance. However, w...
I think Costco's treasure hunt shopping strategy really works because whenever my family and I go to Costco, we have to walk through every single aisle before checking out. Costco also has a couple of loss leaders that drive people to the store, where they will end up buying more things. A couple of examples are their $5 rotisserie chicken and $1.50 hot dog and drink combo. I learned more about why people buy really expensive watches in the second video. I feel like the reason why they buy those really expensive watches is to show off how rich they are, and it can be a sign of status.
ReplyDeleteHRT 3020.01 Eleanor Tan
Thank you for your insight!
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