Marriott's Marketing Mix Review

Product

Marriott’s primary product is to offer hotel accommodations for short (1 or 2 nights) or long stays (2 weeks or more). 
The company built a portfolio of 30 unique brands that aim to meet the needs of any customer. The most famous brands are the Ritz-Carlton, St Regis, and the Edition.
Most Marriott hotels include restaurants, bars, and conference rooms which customers book to organize large events, corporate meetings or to celebrate special occasions.

Price

Rates are determined by the location, category, customers, and competition of each hotel. 
Marriott analyzes market trends, customers' demands, and competitors' activities to offer attractive deals and maximize revenues.
Marriott guarantees to offer the best possible rate on its website. This is a great way to make customers book directly and keep under control any rate abuse from other travel websites. With this policy Marriott builds trust in customers that are assured to receive the best deal.

Place

Present in 131 countries, Marriott hotels can be found almost everywhere in the world. Marriott aims to be the most recognized hospitality company and they keep adding locations to their list. Hotels are usually situated near airports, city centers, and holiday destinations making them ideal for both leisure and corporate guests.

Promotion

Marriott uses both Outbound Marketing channels (TV Commercials, Radio Advertising and Magazine) and Inbound Marketing Channels (Videos, Social Media, Digital advertising and Blogs) to promote its brand.
Marriott created an intuitive website and phone app where people can learn about new promotions and book bedrooms.
One of their most important campaigns regards  'Marriott Bonvoy', the company loyalty program created to retain regular guests. The program has different levels (Member, Silver, Gold, Titanium and Ambassador) and it’s free to sign up. Points can be used to receive benefits across their 7400+ hotels and also to buy TSA Precheck applications, airport lounge access and flights through more than 40 airline (Travel Us News, 2020).

People

‘Take care of associates and they will take care of the customers’ is the company philosophy (Bill Marriott, n.d.). Marriott offers many benefits (hotel discounts, private pension, paid holidays, etc.) to their employees to keep them happy and retain talents.
The company has designed different programs that train its 176.000 employees to deliver great service to the customers.
Marriott Voyage is their most famous program that attracts many students and it forms them to be the company's future leaders.

Physical Evidence

The hotels' buildings represent Marriott's primary evidence. The service offered to the customers is an intangible evidence however it’s one of the most important one. When staying at a Marriott Hotel guests are confident to have a great experience.

Branded amenities (wardrobes, slippers, and towels) are another physical evidence of the company.

Process

Over the years Marriott has created a process that would give a positive impression to customers from the time they make a booking to the time they leave the hotel.

Nowadays Marriotts' customers can easily book a room through the phone or online, being check-in in just a matter of minutes and enjoy a fantastic stay.

With digital technology, Marriott has managed to make the whole process a lot smoother. A great example is the Marriott mobile app that allows guests to make bookings, check-in online, and communicate with the hotels' staff whenever they need it.

Product Strategy Report

Founded in 1927 with the opening of a nine seats root beer stand, Marriott opened its first hotel in 1957 and since then it never stopped growing. Marriott today is one of the leading companies in the Hospitality sector with 30 different brands that include over 7400 hotels operating in 131 countries. The company has been very successful in providing excellent service to its customers and keeping its high standards among all properties.
Marriott successful product strategy can be explained with the following points:

Acquisition

Marriott constantly focuses on increasing its product offering and the acquisition of new properties have played a big role in this. By acquiring existing properties, the company has managed to tackle its competition and gain a stronger position in key markets. In 2016 Marriott bought for $13 billion Starwood Hotels & Resort Worldwide which became the biggest acquisition in hotel history and added 11 new brands to the company portfolio.“We’ve got an ability to offer just that much more choice. A choice in locations, a choice in the kind of hotel, a choice in the amount a customer needs to spend,” Marriott CEO Arne Sorenson (2016) statement after the merge Starwood.

Brands

Intending to add value to customers, Marriott put a great effort in building its 30 brands portfolio. Today Marriott offers more brands than Hilton (18 brands), IHG (14 brands) and Hyatt (20 brands). Using extensive market research, Marriott often creates and launches new products into the market to meet new customer needs.

Marriott brands are divided into four different groups:

- Select is a more economic selection and offers “smart and easy amenities and services” and contains the following headlining categories: Classic Select (Courtyard Hotels, Protea Hotels) and Distinctive Select (AC Hotels, Moxy Hotels). (eHotelier,2016)
- Premium is a mid-range section and offers “sophisticated and thoughtful amenities and services” and has the following categories: Classic Premium (Marriott Hotels, Sheraton) and Distinctive Premium (Le MERIDIEN, Westin, Design Hotels, Renaissance). (eHotelier,2016)
- Luxury is the most high-end section and offers “bespoke and superb amenities and services” and contains brands under the following headings: Classic Luxury (Ritz-Carlton, JW, St. Regis) and Distinctive Luxury (BVLGARI, W Hotels, Edition). (eHotelier,2016)
-Longer Stays is at the more residential end and offers “amenities and services that mirror the comfort of home”. Some of the categories are Classic Longer Stays (Marriott Executive Apartments, Residence Inn) and Distinctive Longer Stays (Element). (eHotelier,2016)
Additional Values

Marriott hotels include restaurants, bars and event spaces that represent an additional value to customers.Often Marriott properties are booked by customers to celebrate special events or host exclusive events.

Conclusion

Marriott’s product strategy has proved to be very successful and it has contributed to its successes over the years. By constantly increasing its product offering, the company has managed to create brand awareness and attract new customers. 
The different brands meet the needs of a large number of customers that can differentiate for gender, taste, age, and lifestyle. 
Nowadays many competitors are offering similar products therefore Marriott continue to analyze trends and customer behavior to create new brands and maximize revenues. 
This product strategy can also bring some challenges such as cannibalization (adding new brands in the same locations or markets can shift business away from older properties and make hotels compete with each other) and damage of company reputation (with so many properties it can be difficult to keep the same level of standards everywhere and keep customers satisfied). These are risks that a company is willing to take to maintain its global visibility and Marriott has done an amazing job in overcoming these challenges in the past years.