Marriott has branded its entire family of accommodations based on different value propositions, supported by clearly delineated
pricing strategies. Its offerings include Ritz-Carlton and JW Marriott for the most discriminating patron, Marriott and Renaissance at the next level of full service, and an array of differentially positioned brands such Courtyard and Residence Inn. This is an example where ________ can occur at a level much broader in scope than individual products.
Price lining is defines as the pricing strategy where related products are sold at different prices to customers.
Usually the price difference depends on the level of quality of the products.
For example a beverage company with different drinks having various flavours will have a different price for each one.
In the given scenario price lining is occurring at a larger scale when Marriott branded its entire family of accommodations based on different value propositions.
These include Ritz-Carlton and JW Marriott for the most discriminating patron, Marriott and Renaissance at the next level of full service, and an array of differentially positioned brands such Courtyard and Residence Inn.
Explanation: In simple words, joint ventures refers to the business arrangement under which two or more independent parties join their operation for the purpose of doing business more effectively.
Worldwide can go for joint venture as it would be less costly then mergers and acquisitions since they have to buy a part of the entity also they can control the entity as per their share in it.
