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case study of banyan tree - question no. 4
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Presentation on Banyan Tree: Branding the Intangible
Presentation on Banyan Tree: Branding the IntangiblePrepared by:Serina RajkarnikarBBA 4th year 2nd semester
introductionBanyan tree
Established in 1994
Founded by Ho Kwon Ping and his wife Claire Chiang
Spent 15 years managing family business low cost factory closed down in Indonesia
Realized low cost strategy difficult to follow leads nowhere
Decided to build strong brand maintain competitive advantage
Idea of luxury resort gap in hotel industry
Market segment private and intimate accommodation Amanpuri US$650 to over US$7000Shangri-La hotel & Hilton below US$350
Ho saw potential for offering an innovative niche product could bridge the price gap in this market
Banyan tree phuket - success built 2 other resorts IndonesiaMaldives
Service offeringa sense of place - reflect and enhance culture and heritage of the destination
individual villasprivate pool Jacuzzi spa treatment room
Example: dinner on a traditional Thai long tail boatwedding packages Intimate Moments package
Marketing Tagline Sanctuary for the Senses
Banyan Tree Experiences - marketed as intimate private moments - unforgettable memories.
Initially, extensive advertising - carried out for a short period of time - to gain recognition in the industry.
Minimal advertising - high-end travel magazines in key markets.
Brand awarenesspublic relationrelationships with travel editors and writers were cultivated to encourage visits to the resorts.
global marketing programsGlobal Distribution System - used by travel providers - to process airline, hotel, car rental reservations across 640,000 terminals of travel agents and other distribution partners around the world.
What effect does the practice of corporate social responsibility have on brand equity?Companys socially responsible business values and practices caring for the social and natural environments.BUILDIND THE BRAND ON VALUES
revitalizing local communities
employees and customers - identify with and support as part of their own life values.
CSR committee formed to focus on issues with both a regional overview and local perspectives.
Company worked actively to preserve, protect, and promote the natural and human environments in which Banyan Tree resorts were located.
Preserving the environment
Resorts were built using local materials
Villas were built on stilts and platforms to avoid cutting trees and possible soil erosion
Fresh water supply was obtained by methodof desalination
Toiletries, such as: shampoohair conditionerbath foambody lotion provided in the resorts were non-toxic and biodegradable, and filled inreusable containers made from celadon or ceramic
Waste water was treated and recycled in the irrigation of resort landscapes.
Employment opportunities - Banyan Tree Gallery a source of income - preserve unique heritage
Use of eco-friendly and recycled materials Example: photo frames made up of discarded telephone directories
Animal rights - the galleries did not carry products made from shell or ivory
planted 28,321 trees and 20,000 fruit trees
Involving guests in environmental conservation
Environmental awareness - involved interested guaests in the research and environmental preservation work.
Invited for coral transplantation program
offered free marine biology sessions allowing them to learn more about the fascinating marine life and its conservation.
Guests contribution:construction of new schools for the local community,restoration of coral reefslongevity of local village crafts
Involving the local community
engaging local craftsmen to produce indigenous art and handicrafts for sale at its galleries
local community was involved in various aspects of its business such as: building the resorts
constructed with as much indigenous material as possible - supplied by local traders
traditional arts and handicrafts that complemented the villas aesthetics - purchased from local artisans
building profitable resorts that would benefit the surrounding environment and contribute to local economies through the creation of employment and community development projects.The Banyan Tree Maldives Marine Laboratoryconservation efforts to protect and regenerate coral and marine life for the future of the tourism industry as well as to promote awareness and education of this field to the local community.
funding scholarships for needy children
a school and childcare centre built
lunches and parties for the elderly hosted
local cultural and religious activities supported
Seedlings
conclusion Leading player in the luxury resort and spa market in Asia
The company is preparing to aggressively grow its global footprint in:The AmericasCaribbeanEuropeThe Middle East; while preserving its distinctive Asian identity and strong brand image of Banyan Tree
Ultimate visionto string a necklace of Banyan Tree Resorts around the world; not quantity, but a number of jewels that form a chain around the world.
recommendationEstablishment of its resorts in developing countries employment opportunities for local people development of that particular area.