As the report declares through a basic technical understanding about the life cycles of a product in the market, it can be seen that marketability and acceptance of the product in the market not only depends on the product design and benefits, but on several critical factors that the product has to accomplish in order to capture the attention of the target market and to continually get its support for competing successfully in the marketplace. Two of the most important factors that the product needs to have are a proper brand positioning and an appropriate brand perception.
In this research several questionnaires and interviews are conducted to find out about the brand perceptions of customers and prospect customers of The Grand Hyatt New York Hotel in order to get primary data that are assessed in connection with the brand positioning of the hotel under study. In the same way, several questionnaires and interviews are conducted to find out about the brand positioning efforts of some key employees of The Grand Hyatt New York Hotel, especially the marketing staff. These questionnaires and interviews are implemented with an unbiased perspective to a significant sample of customers, prospect customers and employees in order to gain valid, reliable and possibly even representative findings about the correlation between the brand positioning and the brand perception of The Grand Hyatt New York Hotel. ...
In order to succeed with the branding efforts of an enterprise the powerful concepts of positioning and differentiation are critical factors that can determine the success or failure of a particular brand. But positioning is a battle that takes place in the mind of the consumers. So brand perception plays a very significant role in the war of positioning. In this research, the concept of The ID Branding Framework (Hahn, 2007b) is undertaken as a holistic model that sheds light about the core disciplines of branding (brand strategy, brand identity, brand management, and brand experience) as well as its various elements. This is an integrated model of branding that it is used with the fundamental concepts of brand positioning and brand perception in order to study the correlation between the brand positioning and the brand perception of The Grand Hyatt New York Hotel through a comprehensive literature review of secondary data and the use of questionnaires and interviews as primary data for gathering useful information about the opinions and insights of The Grand Hyatt New York Hotel's guests and prospects. The research findings reveal that there is a positive correlation among customers of The Grand Hyatt New York Hotel, but at the same time there is a mild correlation among prospects due to the fact that the respondents most probably do not belong to the target market of The Grand Hyatt New York Hotel. This correlation can be enhanced with new branding efforts by The Grand Hyatt New York Hotel's staff and owners. In order to get a better position in the minds of guests and prospects it is necessary for The Grand Hyatt New York Hotel to make radical decisions. One of those decisions is related