BRAND DIFFERENTIATION OF SERVICED APARTMENTS IN SINGAPORE : THE ASCOTT LIMITED AND FRASERS HOSPITALITY PRIVATE LIMITED

Abstract

Serviced apartments are part of the real estate industry which caters to a niche market in Singapore. This sector is shared by only a few players. Despite the major dependence of the sector on just business and leisure travellers, a few operators such as The Ascott Limited and Frasers Hospitality Private Limited have come up with three brands of serviced apartments each locally. The challenge of competing with other operators aside, these brands under the same parent company must have strong positioning and clear target market so that they can avoid cannibalising each other. This study examines how The Ascott Limited and Frasers Hospitality Private Limited fare in terms of differentiating their multiple brands from each other. Apart from the success of brand differentiation, this study also analyses the components of marketing mix of each brand of serviced apartments to determine which one plays the major role in differentiating the brands. A survey to find out the public’s perception of each brand’s positioning and target market is conducted based on the marketing 4 Ps of the brands – product, price, place, and promotion. The study found that the brands of The Ascott Limited are successfully differentiated among themselves, while two of Frasers Hospitality Private Limited’s brands are perceived to have the same positioning and target market. Also, product offering is found to be the main driving factor of brand differentiation.