Using segmentation strategies, what are the target market(s) for The Ritz-Carlton? How does this relate to their brand management strategies?

Select one of the three case studies listed below, which can be found in your textbook. Evaluate the case of your choice, and respond to each of the questions below using both theory and practical managerial thinking as well as supporting research.

Option 3: The Ritz-Carlton

1.      Using segmentation strategies, what are the target market(s) for The Ritz-Carlton? How does this relate to their brand management strategies?

2.      Who are the top three competitors of The Ritz-Carlton, and what are their advantages/disadvantages with respect to their competitive product/service strategies.

3.      How does The Ritz-Carlton match up to competing hotels? What are its key differences?

4.      Discuss the importance of the “wow stories” in maintaining top quality customer service for a luxury hotel like The Ritz-Carlton.

In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings. Your APA-formatted case study should be a minimum of 500 words in length (not counting the title and reference pages). You are required to use a minimum of three peer-reviewed, academic sources that are no more than 5 years old (one may be your textbook). All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations.