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Marketing Strategy Introduction Marina Bay Sands like any other organisation is continually seeking new and better ways to obtain, maintain and expand business. It is because the cost of losing customers is constantly on the rise. Marina Bay Sands as a service oriented organisation needs to improve on their competitiveness through sharpening their marketing strategies in order to retain customers.
Marina Bay Sands targeted the ‘Meetings, incentives, conventions and events’ and business travellers as their major markets but the hotel is now aiming at the family and leisure markets as well. The hotel appears to be entirely matching with regard to their products, experience offered and their facilities. For this reason, they appear to be attracting and containing quite distinguishable market segments. Therefore, for future markets, the economic growth and population growth in China implies that China is no longer a huge and poor market. Marina Bay Sands like many other companies should now try to locate and target the most outstanding market for them (Jauhari and Rishi, 2012). This is because previous studies of China economy have not entirely acknowledged the remarkable growth of the middle class. Research done using data from Asia Pacific and MasterCard Worldwide showed that middle class reached 87 million by 2005 from just about zero ten years ago, and is expected to rise to 340 million by 2016. This means that the middle class will occupy the 60 percent of China’s urban households by 2016 which already clocked 39% by 2006. ...
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