Introduction
The purpose of this essay is to critically evaluate and discuss the value creation concept that has been created in Marriot hotel, although, using relevant theories in order to identify the concept of added value.
Quoting Lovelock, Vandermerwe and Lewis (1999, p.294), “a service product typically consists of a core product bundled together with variety of supplementary service elements”. Moreover, the core product that is provided by the company to the guest will deliver a solution to their problems; however the supplementary service will further enhance and improve the customer perception of the product by allowing the customer to enjoy more the product and consequently the customer will be highly satisfied (Lovelock and Wright, 2004). Therefore, delivering added value is very relevant concept where all the organizations should be taken into consideration. The term “added value” can be defined as “additional services to an offering’s core value” (Gronroos, 1997, cited in the Chernatony et al, 2000, p.42). Furthermore, it is important for the company to recognize the customer needs and accomplish their expectations by offering a unique experience, which will lead to delivery added value.
According to Knox et al (2003) nowadays, the company should be concerned in retaining the customer, not only looking to attract the guest for the reason that through establishing a long term relationship with the customer a degree of loyalty will be developed and will assist the returning on investment. As stated by Mattila (2001) the loyal customers that commit them self’s to the company are seemed to be the advocates of the organization since they spread a positive word of mouth which generates the company to develop a strong brand name.& ...