Marriott Hotel Ansoff matrix Essay Example | Topics and Well Written Essays - 1000 words

Marriott Hotel Ansoff matrix - Essay Example Market penetration refers to a strategy where the organization enters a new market with its existing products (Oh, 2009). Through the market penetration strategy, a company can increase consumption of existing customers through rebates or overhauling of the business (Waters, 2006). According to Reid and Bojani (2010), this strategy aims at increasing the usage and number of the present customers either by attracting new consumers those from the competitors. In order to attract new customers, Marriot Incorporation has undergone a revamp of its promotional determinations that lay emphasis on the consumers (Olmsted, 2014). The company had recognized that though they would regard themselves as one of the best brands in the world, they lacked the zeal to appease customers. Starwood’s chain of hotels, one of Marriot’s rivals, challenged Marriot to look for the younger people in order to increase its market share and customers. Marriot hotels have in the past few years concent rated on offering their brand online to customers who like surfing all day. The company has a blog called â€Å"Marriot on the move† that accommodates people online (Marriott News Center, 2014). This blog has become an outstanding channel of providing entertaining stories and news on the company’s present, past and future prospects. This blog has gained a huge audience through the high number of followers in social media. As with other industries, user-targeted content is particularly vital in hospitality. Organizations that do not take advantage of the use of social media in the present age may miss out on a cheap platform that allows the company to interact directly with the clients (Bhttarai, 2014). In this regard, Marriot Incorporation has successfully expanded its operations across the world through revamping the organization to target new customers and