How did CitizenM Hotels create value for their frequent traveler target market without raising costs? Make sure you explain the strategic approach used rather than just describing the activities implemented by the hotel.
How did CitizenM Hotels create value for their frequent traveler target market without raising costs? Make sure you explain the strategic approach used rather than just describing the activities implemented by the hotel.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question
How did CitizenM Hotels create value for their frequent traveler target market without raising costs? Make sure you explain the strategic approach used rather than just describing the activities implemented by the hotel.
Expert Solution
Background
The value of a product will vary for every individual as they will have different tastes and preferences. The value of a commodity depends upon the satisfaction level that a consumer gets when purchasing a product. Value is known as the perceived conception that customers have generated due to their positive performance of the product quality. The higher the value created; the higher will be customer satisfaction.
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