Marketing Strategy for Hyatt Regency Birmingham Research Paper

Marketing Strategy for Hyatt Regency Birmingham - Research Paper Example There is always a need to understand customers, but luxury hotels need to adapt their brand strategy in order to attract these more cost-conscious customers and look at â€Å"establishing ways of making the same brand more accessible† (Brownsell, 2009). Strategic direction is a challenge faced by all organizations whether there is a recession or not, especially when there exist opportunities or to help overcome major problems (Johnson, 2009: 2).  Ã¢â‚¬Å"Uncertainty is inherent in strategy because nobody can be sure about the future.† (Johnson, 2009: 6) But a strategic direction helps to focus on a course of action and follow an integrated approach based on clear objectives and informed knowledge of the operating environment. This, of course, can affect the organization’s operational decisions, involve a reconsideration of the relationships and networks, and can be complex reorientation requiring considerable change.  Strategic directions at a competitive or bu siness level deal with issues of pricing, competitive advantage, competition, collaboration, game theory etc. Innovation or differentiation, for example, can be done through bettering the quality or an implementing a distinctive distribution channel.  Strategic directions at a corporate level deal with market penetration, consolidation, product development, market development, diversification etc. This includes cost leadership, differentiation, and specialization based on Porter’s generic strategies. It also includes e.g. geographical coverage, diversity of products/services, allocation of resources within the organization, expectations of owners i.e. Shareholders. Portfolio matrices viz. BCG (also known as growth/share), directional policies and other tools were used in the analysis prior to this report.