The company’ s quest of providing quality accommodation and service named it one of the best hotels in the world as it consistently reaped awards from prestigious organizations like Forbes, Travel Weekly, Luxury Institute, and Consumer Reports. In 2006, it was awarded the Mobil Five-Star Award and AAA Five Diamond Award (Ritz-Carlton 2007). Ritz-Carlton’ s market segmentation is reflected in its different product offerings. The company irrefutably utilized geographic, psychographic, as well as behavioral factors in designing their product line. In terms of geographic, it can be noticed that Ritz-Carlton offers accommodation in four key strategic locations— tourist spots, business districts, metropolitan, and countryside.
The company offers luxurious accommodations in scenic tourists’ destinations like Bali, Milan, and Barcelona as well as in the business districts of New York, Tokyo, and Dubai International Financial Center. Metropolitan like areas like Seoul and Kula Lumpur as well as the countryside of Florida and Montego Bay are conquered by the pleasure offered by Ritz Carlton (Ritz Carlton 2007). In terms of psychographic and behavioral factors, Ritz-Carlton segments its market by looking at the general and specific interests of its customers.
The hotel company divides its target company according to the purpose of their use of the facility. Three general classifications are generated: those who stay in the hotel for business purposes; those who consider Ritz Carlton for leisure during holidays and vacation; and those who want to celebrate their special occasions like wedding and anniversaries. The company did not lose sight of the fact that adults often bring their little ones on vacation. Ritz-Carlton has specific activities for kids through the Ritz Kids Roundup Programs (Ritz-Carlton 2007). Ritz-Carlton promises not just to provide luxurious and comfortable accommodation to all its guests but extend the “ Ritz-Carlton experience".
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