Corporate brands are defined by many as one of the most fascinating phenomena of the 20th century’s business environment. In today’s reality they are also considered sometimes as a religion, a belief, or even a lifestyle; they are adored, venerated, and coveted, by people and organizations alike (Keller, 2008).
Balmer in his article Corporate Brands: what are they? What of them? (2003), defined corporate brands as a product of an organization's corporate strategy, mission, image, and activities, which communicates brand’s values and in the meantime affords a means of differentiation from their competitors. It is also said to enhance the esteem and loyalty of the stakeholders for the organization.
This paper will give an examination of the nature, the typology and the management of a well known corporate brand operating in the Tourism industry: Royal Caribbean Cruises Line Ltd (RCCL).
Adam Weaver in his article Complexity at sea: Managing brands within the cruise industry (2008), stresses how in the late eighties, corporate consolidation within the cruise industry, had as a result many cruise brands to be a part of a brand portfolio. In the complexity of the cruise industry, culture, languages and country of origins represent a major challenge for managers when adapting their brands across an international environment and portfolios are always bigger (Weaver, 2008).
Originally Royal Caribbean Cruise LTD’s strategy to overcome the complexity of this issue has been to opt for a Global brand strategy instead of a multiple decentralized local brands strategy, which on the other hand, has been Carnival Corporation’s main strategy, also main RCCL competitor, as well as market leader for the global cruise industry (Weaver, 2008).
However some of the latest operations made by RCCL have suggested a fundamental shift on RCCL brand strategy, which will be a focal point for the second part of this report. Before that, an indication about the size of the industry and an introduction of its main players will be essential in order to understand the dynamics that influence portfolio management strategies.
Table of Contents
- 1. Introduction
- 2. The Cruise Industry
- 2.1 A Global Analysis
- 2.2 The UK Market
- 3. The Royal Caribbean Brand Portfolio Analysis
- 3.1 Market Forces and Dynamics
- 3.1.1 Customers Analysis
- 3.1.2 Competitors Analysis
- 3.1.3 Corporation
- 3.2 Business Strategies
- 3.3 Brand Equities and Identities
- 3.3.1 Royal Caribbean International
- 3.3.2 Celebrity Cruises
- 3.3.3 Azamara Cruises
- 3.3.4 Pullmantur
- 3.3.5 CDF
- 3.4 The Brand Portfolio Audit
- 3.4.1 The RCCL Hierarchy Model
- 3.4.2 The Brand Relationship Spectrum
- 3.4.3 Brand Positioning
- 3.1 Market Forces and Dynamics
- 4. Recommendation
- 5. References
- 6. Appendix
Objectives and Key Themes
This paper examines the brand portfolio management of Royal Caribbean Cruises Ltd (RCCL), a major player in the tourism industry. It analyzes RCCL's strategies within the context of the global cruise market, considering market dynamics, competitive pressures, and the unique challenges of managing a diverse brand portfolio in a complex international environment.
- Analysis of the global and UK cruise markets
- Examination of RCCL's brand portfolio strategy
- Evaluation of market forces and dynamics influencing RCCL
- Assessment of RCCL's brand equities and identities
- Overview of RCCL's brand portfolio audit and its implications
Chapter Summaries
1. Introduction: This introductory chapter sets the stage by defining corporate brands and their significance in the modern business world, highlighting their importance as differentiating factors and drivers of stakeholder loyalty. It introduces Royal Caribbean Cruises Ltd (RCCL) as the subject of the analysis, emphasizing the complexity of managing a brand portfolio within the cruise industry, particularly the challenges posed by diverse cultures and languages in an international market. The chapter contrasts RCCL's initial global brand strategy with the localized approach adopted by its competitor, Carnival Corporation, and hints at a potential shift in RCCL's strategy.
2. The Cruise Industry: This chapter provides a comprehensive overview of the cruise industry, beginning with a global analysis that underscores its robust growth despite global economic challenges. It highlights the market's dominance by a few large corporations, notably Carnival Corporation and RCCL, providing a snapshot of their market share. The chapter then focuses specifically on the UK cruise market, emphasizing its size and dynamism as a key region for major cruise brands. It details the leading players in the UK market, including Carnival's subsidiaries and RCCL's growing presence, highlighting the competitive landscape and RCCL's strategic initiatives to expand its market share and appeal.
3. The Royal Caribbean Brand Portfolio Analysis: This chapter delves into the analysis of RCCL's brand portfolio, acknowledging the lack of universally applicable guidelines for such an undertaking. It uses Aaker's framework to structure its investigation, focusing on market forces and dynamics, business strategies, brand equities and identities, and a brand portfolio audit. The chapter examines customer analysis, revealing market segmentation based on geographic, economic, demographic, and psychographic factors, thereby identifying key customer segments and their preferences.
Keywords
Royal Caribbean Cruises Ltd (RCCL), brand portfolio management, cruise industry, market analysis, brand strategy, global branding, UK market, competitive analysis, brand equity, customer segmentation.
Royal Caribbean Cruises Ltd Brand Portfolio Management: FAQ
What is the main topic of this document?
This document provides a comprehensive analysis of Royal Caribbean Cruises Ltd (RCCL)'s brand portfolio management. It examines RCCL's strategies within the global cruise market, considering market dynamics, competitive pressures, and the challenges of managing a diverse brand portfolio internationally.
What aspects of RCCL are analyzed?
The analysis covers several key areas: the global and UK cruise markets; RCCL's brand portfolio strategy; market forces and dynamics influencing RCCL; RCCL's brand equities and identities; and an overview of RCCL's brand portfolio audit and its implications. Specific brands within the RCCL portfolio (Royal Caribbean International, Celebrity Cruises, Azamara Cruises, Pullmantur, and CDF) are also examined.
What is included in the Table of Contents?
The table of contents includes sections on: Introduction; The Cruise Industry (with subsections on global and UK market analysis); The Royal Caribbean Brand Portfolio Analysis (covering market forces, business strategies, brand equities, and a portfolio audit); Recommendations; References; and an Appendix.
What are the key objectives and themes?
The key objectives are to analyze the global and UK cruise markets, examine RCCL's brand portfolio strategy, evaluate market forces and dynamics influencing RCCL, assess RCCL's brand equities and identities, and provide an overview of RCCL's brand portfolio audit. Key themes include global branding, competitive analysis within the cruise industry, and the challenges of managing a diverse brand portfolio in an international market.
What is the scope of the market analysis?
The market analysis includes both a global perspective on the cruise industry, highlighting its growth and key players (like Carnival Corporation and RCCL), and a more specific focus on the UK cruise market, detailing its size, dynamism, and competitive landscape.
How does the document analyze RCCL's brand portfolio?
The analysis uses Aaker's framework to structure its investigation of RCCL's brand portfolio. It examines customer analysis (segmenting the market based on geographic, economic, demographic, and psychographic factors), business strategies employed by RCCL, the brand equities and identities of each brand within the portfolio, and conducts a brand portfolio audit using models like the RCCL Hierarchy Model and the Brand Relationship Spectrum.
What are the key takeaways or recommendations (in general terms)?
While the specific recommendations aren't detailed in the provided summary, the analysis aims to offer insights into RCCL's brand portfolio management, highlighting areas of strength and potential improvement in their strategies within a competitive global market. The analysis compares and contrasts RCCL's approach with that of competitors like Carnival Corporation.
What keywords are associated with this document?
The keywords include: Royal Caribbean Cruises Ltd (RCCL), brand portfolio management, cruise industry, market analysis, brand strategy, global branding, UK market, competitive analysis, brand equity, and customer segmentation.
What is the chapter summary of the Introduction?
The introduction defines corporate brands and their significance, introduces RCCL as the subject of analysis, emphasizes the complexities of managing a brand portfolio in the cruise industry, especially in an international market, and contrasts RCCL's initial global brand strategy with Carnival's localized approach.
What is the chapter summary of the Cruise Industry chapter?
This chapter provides a comprehensive overview of the cruise industry, starting with a global analysis of its growth and key players. It then focuses on the UK market, highlighting its importance to major cruise brands and the competitive landscape within it.
What is the chapter summary of the Royal Caribbean Brand Portfolio Analysis chapter?
This chapter delves into a detailed analysis of RCCL's brand portfolio using Aaker's framework, examining market forces, business strategies, brand equities, and conducting a brand portfolio audit. Customer analysis revealing market segmentation is also included.
- Quote paper
- BA Global Marketing Matteo Fabbi (Author), 2010, Royal Caribbean Cruise Line (RCCL) - A Brand Portfolio Analysis, Munich, GRIN Verlag, https://www.grin.com/document/180656
