Ability to Create Differentiated Products and High Service Quality- Banyan’s first core competency is its ability to create a differentiated product offering and high quality service. Unlike its competitors, Banyan builds its own resorts to better control the Banyan experience. It also focuses on the interior of the villas- creating a romantic ambience. It adopts the unique …show more content…
In addition, Banyan allocated its marketing expenditure to both the wholesalers as well as the consumers. Banyan also effectively capitalizes on its awards and accolades which are indicative of its service standards. As Banyan targets a niche market, word of mouth marketing has also contributed to it building its brand in a short period of time. Banyan’s efforts in maintain relationships with local communities and governments is also in line with its mission statement, a factor that maintains its strong brand in Asia.
Valuable: Banyan’s distinct branding which has been consistently delivered to its guests positions it uniquely in the market. In addition, brand loyalty is created as guests come back for the romantic ambience of the villas. This strong brand name allows Banyan to charge a premium for its products, as well as opening up new markets for it.
Rare: The unique proposition of romance, intimacy, privacy and rejuvenation are qualities which are directly associated with Banyan. The fact that there are not many competitors able to relate to this proposition reflects Banyan’s strong brand building capabilities in terms of capturing its guest’s hearts.
Costly- to imitate: Built up over time through product, service offerings and careful market positioning using public relation, direct marketing and synergy with the local community, its brand is almost impossible to imitate because it involves different capabilities