Fashion Channel Essay Example for Free

Fashion Channel EssayAnalysisFollowing rosewood tree through this case study we have seen the company come to a crossroads. The company had to redefine itself to catch relevant in an evolving space. Rosewood had a reputation for managing uniquely distinctive properties without widespread corporate scrape name awareness. Each individual property enjoyed vast success in particular from repeat guests who more often than not stayed at only unmatchable and only(a) of their distinctive properties in their growing portfolio. Now the company is looking to the coming(prenominal) and specific exclusivelyy evaluating whether or not to incorporate the Rosewood mark off into the name of each hotel. Rosewoods senior forethought is engaging several tools to make their decision. Implementing this new strategy could lead to a clever future or spell disaster.Pros and cons of Rosewood paltry to a corporate brandWhat is branding? check to enterpriser magazine The marketing practice of c reating a name, symbol or design that identifies and differentiates a production from early(a) products. Creating a corporate brand can come with positive and negatives. Rosewoods prey will be to leave an imprint that no one else can leave and to take a shit incantation moments that their guests will never forget. Such as when the guest goes down memory lane years posterior after their stay, they will recall the positively outrageous service, the amenities, the food and the atmosphere created by Rosewood. No other hotel will duplicate what they experienced at their properties. Another positive to branding, Rosewood will create standards to measure out the overall performance of all their properties. Such as curb appeal, pretty landscaping, manicured green grass, flowers in season, to beautiful shrubs and trees.Additionally, as the guest arrives the people become part of the standard set, from the doorman, to the desk clerk, to the bellman, to housekeeping, to the engineering team that keeps the building and live temperature comfortable. This is where Rosewood can benefit from differentiation and drive performance. For that reason Jack Welch states in a manhood Press article, Companies win when their managers make a clear and meaningful distinction between top- and bottom-performing businesses and people, when they cultivate the inviolable and cull the weak. Some of Rosewoods property managers, as mentioned in Harvard Business check intoRosewood Hotels and Resorts Branding to increase customer profitability and lifetime value, many had mixed feelings about moving to a corporate brand. When you are measured against other hotels there is only so much agency at the top. Naturally, there will some managers that will be asked to enrapture up or ship out.Thus, the upside is each hotel pushes each other to be the best they can be. Finally, the guest could stay what experience they will have at each Rosewood if they moved to a uniform brand. On the othe r hand, the down side or cons of moving to a uniform brand for Rosewood could be that data gathered from properties could be skewed or demographic information could not apply to all hotels across the brand. According to Phillip Kotler in A Framework for Marketing and Management The data collection contour of marketing research is generally the most expensive and the most prone to error (p.39). Also, some management after differentiation is established and measured could be dismissed if their hotel is at the bottom. Finally, another con could be that some management and employees are not good team players and are not able to wield the standards charted by management. node Lifetime Value CalculatorUsing a tool like the Customer Lifetime value calculator can be secondful to Rosewood management as they crunch the numbers. This tool alleviates management take duodecimal information and funnel it down to several outcomes. However, garbage in garbage out must be considered here. The CLTV is only as good as the information provided. If one Rosewood hotel provides flawed information or has not collected the data properly, the assumptions arrived to by the CLTV are not accurate. Perhaps as JWMI 518 W2, L2 states The best approach is often to make use of some(prenominal) qualitative and quantitative research. This approach considers the ever changing market conditions, tangibles and intangibles contained within qualitative and quantitative research. They are both valuable and have their place. Finally, within all the data and assumptions gained from the CLTV, there is one factor not considered. The blood factor.In order to carry out the legendary service brand Rosewood wants to create, the most small factor the team should be focused on is building relationships. The data, the CLTV, the amenities and a uniform brand all revolves around the staff building meaningful relationships with the guests. The standardized expectation ofhow the guests are served is the mos t fundamental ingredient and the CLTV does not factor this into the equation. According to INC Magazine, The truth is that entrepreneurs too often get caught up in the details of the kinds of products or services they are selling to notice how critical it is to build relationships not clean with your customers, but also with your vendors, employees andgaspeven your competitors. Without strong relationships, it is impossible to have success as a business owner,RecommendationMy recommendation is that Rosewood should move to branding their hotels using the Rosewood brand immediately. Without shot standard foundations the guest will not know what to anticipate. Rosewood could use standardized data to help anticipate the needs of the guest before they even asked. Also, creating a uniform brand will help everyone come together as one team. When you are a consummate team player you foster the performance of everyone around them and then there is no limit to what you can do as a team.Wh en Rosewood has everyone on the same page going in the same direction they can create a wow factor the guest will be telling the world about. To most of the world, getting good service is common versus giving positively outrageous service is uncommon. Having a satisfied customer is common versus taking that satisfied customer exceeding his or her expectations and then taking the service one percent beyond that now Rosewood can create a raving fan that is uncommon.ReferencesEntrepreneur Magazine, (2013) http//www.entrepreneur.com/encyclopedia/branding Harvard Business Publishing, (2007), Rosewood Hotels and Resorts Branding to increase customer profitability and lifetime value, P. 5 INC. (2013) http//www.inc.com/guides/201101/how-to-build-better-business-relationships.html Kotler, Chapter 3 Collecting Information and Forecasting Demand, P.39 World Press, (2012) http//frrl.wordpress.com/2009/10/31/jack-welch-on-differentiation-or-making-winners-out-of-everyone/