MARKETING STRATEGY FOR GOLDEN LANDMARK HOTEL

Abstract

Since the recovery of Singapore tourism industry at the end of 1987, the hotel industry has been experiencing a rising demand for its rooms. Many developers are rushing to build new hotel projects to cash in on the profits. Hence, the increase in supply of hotel rooms signifies an intensified competition for hoteliers. In addition, there is a continued splintering of the customers' markets. Strategies that once work well may no longer be effective. With these dynamic growth and changes in the hotel industry, it is a matter of concern for hotels if their marketing has not been able to keep up with changes in the market. It is with this need in mind that the study has been undertaken. Hence, hotels need to reanalyse the situation. Also, hotels must have a thorough self-evaluation to identify their strengths and weaknesses. Armed with this knowledge, hotels can set out to correctly position themselves in the marketplace, make necessary changes to upgrade themselves for the future and get their marketing right. The study aims to illustrate through a hotel case-study, a real life application of marketing principles that work in today's marketplace. An examination of the market revealed that hotels need to be able to identify their niches in the various markets and could carve out marketing niches aimed at groups that they have not sufficiently been catering to. After assessing their own strengths and weaknesses, they would then be able to exploit the current market conditions and at the same time, develop the marketing techniques for the future.