Rebranding as successful market strategy in the hotel service industry
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640.41(478) (4)
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COSCIUG, Elena. Rebranding as successful market strategy in the hotel service industry. In: Tezele celei de-a : 68-a conferinţă ştiinţifică a studenţilor şi masteranzilor, Ed. 68, T, 20 mai 2015, Chişinău. Chişinău: Universitatea Agrară, 2015, Ediția 68, T, p. 17.
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Dublin Core
Tezele celei de-a
Ediția 68, T, 2015
Conferința "Conferinţa ştiinţifică a studenţilor și masteranzilor"
68, T, Chişinău, Moldova, 20 mai 2015

Rebranding as successful market strategy in the hotel service industry

CZU: 640.41(478)

Pag. 17-17

Cosciug Elena
 
State Agrarian University of Moldova
 
 
Disponibil în IBN: 24 ianuarie 2022


Rezumat

Aim of my scientific research is to demonstrate the power of brand. I have used following objectives to prove the aim: to explore the literature related to the topic, to identify rebranding possibility of the collective tourist accommodation establishment’s in Moldova. After the researches, I have found out that the topic of rebranding has been studied long time ago and is actively discussed till nowadays. To start with the identifying the word brand. Brand is what people think about it. Therefore, brand implies some knowledge about it, certain reputation. Marketers have concluded that brand is required for a better identifying among competitors. Frank Lo once said one of the key rules that is used in marketing, that effective brand is the one that has become familiar to a certain group of people and the one that was able to stand out against the background of competitors. We live in a brand-saturated world where we are exposed to over 3500 brand messages every day. Nowadays a brand is a huge power. It helps not to become bankrupt and not be displaced from the competitive marketplace. Meg Whitman affirmed, “When people use your BRAND as a VERB that is remarkable” (f. ex.: google it, let’s skype tonight, Xerox this book, etc.). Redefining a brand can be risky. Brands are looking for innovation, for new, reasons to be modern. The competitive market place is very aggressive, to be a vital brand you need to be innovative, so people are looking for that. When a good is rebranded the profit increases within 25%. There are five steps of rebranding: Thinking - Planning -Rebrand-Brand Launch - Ongoing Brand Management One great example of good rebranding is Holiday Inn Hotels. They have spent for rebranding over 1 billion $. The average net operating income (NOI) before the rebranding was 2.5 million $, the year after rebranding it has reduced to 1.5 million $, and 2 years after it has a big spike up to over 3 million $. The average daily rate and occupancy rate continue to increase. While the years before the change NOI was also increasing but not so precipitously, very slow. In Moldova on of the most famous hotels is Leogrand Hotel & Convention Center. At comparative sales analysis of the accommodation establishments hotels în the Republic of Moldova, Leogrand takes the biggest part (16.4% from all Moldova’s hotels), but that is not enough for it. in order to obtain more customers and profit the Leogrand Hotel & Convention Center has closed in January and in August there will open the world famous Hotel Radisson Blu. So let us just wish them good luck in their implementation. To sum up, we should take into account successful and unsuccessful experience of world famous brands, avoid mistakes and use it in the Republic of Moldova in order to promote local brands and achieve big profits.