Following Rosewood through this case study we have seen the company come to a crossroads. The company had to redefine itself to stay relevant in an evolving space. Rosewood had a reputation for managing uniquely distinctive properties without widespread corporate brand name awareness. Each individual property enjoyed vast success in particular from repeat guests who mostly stayed at only one of their distinctive properties in their growing portfolio. Now the company is looking to the future and specifically evaluating whether or not to incorporate the Rosewood brand into the name of each hotel. Rosewood’s senior management is engaging several tools to make their decision. Implementing this new strategy could lead to a bright future or spell disaster. Pros and cons of Rosewood moving to a corporate brand
What is branding? According to Entrepreneur magazine “The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.” Creating a corporate brand can come with positive and negatives. Rosewood’s objective will be to leave an imprint that no one else can leave and to create magic moments that their guests will never forget. Such as when the guest goes down memory lane years later 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 the overall performance of all their properties. Such as curb appeal, beautiful 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 room temperature comfortable. This is where Rosewood can benefit...
References: Entrepreneur 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/
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