Branding is possibly the fulcrum to secure deferential position in the hospitality as well as aviation industry. In this competitive world of hospitality industry, it needs too much of contrivance to pass the business-tests and make the newly established hotel or restaurant brand stand apart in the already existing monumental hospitality sector.
A brand is the product or service of a particular supplier, which has earned a distinct name in the market, such as Marriott or Hilton in the hospitality industry. Negative branding is more deleterious than no branding. The performance measures include key factors like the average price, level of occupancy, revenue per available room, revenue per available customer and return on investment.
In a highly competitive service industry such as international airlines, organizations wishing to be successful have to be aware of their competitors and the nature of competition.
Airlines invest in building their brand with new liveries, aircraft interiors, in-flight services and technology, but while following these trends, establishing a lifestyle brand strategy could benefit the airlines equally. The market is ripe for the rise of airlines as lifestyle brands. The multiple qualities represented through the branding process have thus become a marketing tool of considerable strength.
Why need branding?
- Thought ― Brands have a rational appeal which is logical and relates to what they can do. For example, they have to perform what they are supposed to do on the basis of points of difference.
- Sensation ― Brands appeal to senses. For example, design features how the brand looks and the opportunities they provide for new experiences.
- Feeling ―Brands go beyond logic to deal with emotion. These values and everything they represent appeal to the innermost feelings of many consumers.
- Intuition ― Consumers react instinctively to brands which they feel are for ‘people like them!’
Branding is essential, better said, fundamental. In branding, psychology and science are brought together as a promise mark as opposed to a trademark. Brand building is more than just business strategy and cultural movement policy to achieve the kinetic growth of the company