The entity called the "Westin Hotels & Resorts" is the Marriott premium brand that is designed with one thing mind "the well-being of its guests".
What is a premium brand?
In marketing, we can define a premium brand as any individual, company, product or service that is generally perceived to have exceptional value in the target market’s mind. That is, the premium brands have the It Factor.
These brands are known to offer a combination of supreme quality, value, purpose, and exceptional experience. The price is not the only characteristic that makes a brand “premium”, the other factors includes:
- they outsell competitors on a per-unit basis
- higher customer satisfaction ratings
- higher customer retention rates and repeat buyers
- a customer base that promotes the brand
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