Advent stories (3) - Marketing for the super-rich

How would you define a market segment that is attracted to a hotel with an $11mn Christmas tree? The Emirates Palace Hotel in Abu Dhabi is one of the world’s few seven star hotels, with the most expensive suites costing over $10,000 per night. They have every facility you could wish for, from private beach to private cricket ground, and they also have a 43-foot high Christmas tree that cost $10,000.

However, it is not the tree itself which is drawing attention at the moment, but the way it has been decorated - with jewellery containing over 180 diamonds, sapphire, emeralds and other precious stones, the decorated tree is said to be worth over $11mn. To emphasise that this is a deliberate marketing strategy, the hotel has confirmed that it has asked the Guinness Book of Records to confirm that this is the world’s most expensive Christmas tree, and that it is following up on other tactics like offering a $1mn Valentine’s Day package and the installation of what was said to be the world’s first gold vending machine. They also confirmed that they have four security guards in the lobby area!

Can we learn lessons in business organisation from the mittelstand model [8 Mar 2012]
The Ritz Hotel Target Young Customers [1 Mar 2012]
Video case study - finding success in an engineering niche [22 Feb 2012]
An example of a niche market - those who hate environmentally friendly products! [4 Aug 2011]
Haway Pet - A belting video for niche marketing [7 Jul 2011]
British manufacturer exploiting a niche [21 Jun 2011]
Luxury goods giant Prada looks east to cash in on Asian boom [7 Jun 2011]
Triumph - A Classic Case of Niche Export Success [18 Apr 2011]
Essential business reading for the summer! [5 Aug 2010]
Business survival strategies for independent bookshops [14 Jun 2010]
Niche marketing?  Its Pants [15 May 2010]
Q&A - What is the difference between niche and mass marketing? [15 Jan 2010]
Focusing on adding value in a specialist niche helps toy shops survive [15 Dec 2009]
Video Case Study - Luxury Sound Maker Ditches CDs [4 Dec 2009]
Icing on the cake for entrepreneurs [13 Sep 2009]
Pet Airways - Is This a Shaggy Dog Story? [15 Jul 2009]
Small businesses waiting for the upturn [29 Jun 2009]
Video case study - when the bank overdraft becomes the problem [26 Oct 2008]
Swapping tat for quality in the retail clothing market [3 Mar 2008]

BUSINESS TEACHER RESOURCE NEWSLETTER
Get first news of business teaching resources, ideas and other materials from tutor2u. Over 9,400 business teachers from the UK and around the world receive our regular teacher email newsletters. Sign up for free here!