The Lloyd Hotel is one of the five-star hotels in the world. It was created out of curiosity to explore the different cultures of the people in that country. Many hotels were focusing their services on one culture, which was for the Dutch. The pioneers of the hotel saw this as a business opportunity where they could try and come up with new conceptions that would benefit the entire country and beyond. The company was making huge profits before the entry of many competitions in the market. This enhanced for management to come up with new strategies that would get them compete effectively. The Lloyd hotel can be explained well using the position market matrix. When it comes to pricing, the matrix illustrates how Lloyds can use the pricing strategy to overcome the stiff competition in the market. Lloyds has six major competitors in the market, which includes Frederiksplein, Conscious Hotel, Hotel CC, Holiday Inn Press, Brouwer Hotel, and Fita Hotel.
To position itself in the market, Lloyd has come up with a strategy of offering discounts to some of their loyal customers. Most of these hotels are known to be very expensive making customers look for cheaper hotels. It has also improvised some services, which are offered as a bonus to particular clients (Karlof & Lovingsson, 2005). The hotel has divided some of their services, which as highly cost. Such services are left to the wealthy people who can easily afford them this effort is to ensure that the Hotel is not making losses as much as they are putting efforts to reduce cost. This has enabled customers to prefer Lloyds to other Hotels in the region.
When it comes to available service matrix, Lloyd has ensures that the service provision is the best among all the competitors. The organization has employed qualified personnel from different fields to make sure that they serve their customers as expected. Most of the competitors Hotels have used people coming from the regions. Lloyd has programs that ensure the employees are trained on a monthly basis on some of the modern techniques of serving customers. This has enabled the Hotel to potion itself in the market. To facilitate better customer care services, Lloyd has invested the enormous amount of its resources to purchase modern types of technologies that ensure excellent customer services (Zimmerman & Bell, 2014). This equipment provides effectiveness in the service provision to the customers. The competitors are still using the conventional methods of serving customers since such equipment are very expensive. Technology is a good form of investment that companies, organizations, and firms used to compete effectively in the market segment. Lloyd has specialized in offering services for different cultures, unlike the major six competitors. This has enabled them to receive customers from various types of cultures.
The location matrix tries to explain the segment where a particular market is established. The site of a market can benefit it either positively or negatively. Lloyd has position itself on the outcast of the main city unlike most of its competitors. It is believed that customers usually look for a place that is away to the town so that they can relax and reflect on important issues without being disturbed. The positioning of Lloyd has benefited the hotel since most of the customers likely to spend time in a quite place.
Karlof, B., & Lovingsson, F. (2005). The A-Z of management concepts and models. London: Thorogood.
Zimmerman, S., & Bell, J. (2014). The sustainability mindset: Using the matrix map to make strategic decisions.
If you are the original author of this essay and no longer wish to have it published on the SuperbGrade website, please click below to request its removal:
- My Goal to Become a Human Resource Manager
- Global Warming: Climate Change Is a Reality
- Reverse logistics and E-Commerce
- Biography Essay on Philippe Parreno
- Essay on Indian Removal Act
- Paper Example on Social and Political Development of African-Americans Since 1866
- Jury Selection Process
- Book Review: Abina and the Important Men
- The Role of the Federal Aviation Administration in Fulfilling the Requirements of the ICAO
- The Truth behind Fairy Tales
- The Most Important Gasses Found in Smoke