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In my opinion, this would be Blue-Ocean thinking. Subsequent to its inception, Banyan Tree focused on its target customer segment which was high-end wealthy customers looking for exclusive luxury holidays. Banyan Tree knew exactly which customers they wanted to target and carried out its brand positioning accordingly. The advertising was very minimal to maintain“exclusivity” and it was carried out in top-of-the-line travel magazines that targeted its preferred customer segment. It never went in for a mass market strategy by selling through wholesale and retail agents. It became so successful and profitable owing to the fact that it ended up knowing its target customers so well, it met their needs better than other giant chains such as Hilton and Shangri-La...
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