296 Blog #1: What About Casino Marketing?
Jan 16th, 2012 by Annie L
The first two weeks of marketing class has kept me thinking more about the marketing aspects of the brands I often use, as well as the places I go to. We’ve had in-class discussions about retail stores and brands that sell products… but what about the service industry?
Caesars Entertainment, formerly known as Harrah's Entertainment
Caesars Entertainment is the largest gaming corporation in the world, owning over 50 casinos, hotels, and golf courses under several brands. Its CEO is Gary Loveman, one who sees his customers as a set of probabilities wrapped in human flesh.
He considers probabilities such as gender and age, then factors in where we live, what we do, how much we make, and most importantly, how we wager and what we play when we go to one of his casinos. From these, he finds valuable information that helps support his marketing strategies. “Females are more regular gamblers than males and older women are the most lucrative demographic of all.” (Segmentation and Targeting) Loveman knows, the happier his customers are, the more pleasant their experience at one of his 50 casinos, then the more likely the set of probabilities embodied in each of them will continue to pay out for him. As a result, Caesars’ Total Rewards (Differentiation and Positioning) card is the industry’s most sophisticated national multibrand loyalty program.
Loveman took the theories of statistics, invested heavily in CRM technologies, and innovated marketing techniques to build the customer loyalty his company has today. I think that what led Loveman to his successfully executed marketing strategy was his thorough market research. He is able to create customer value and achieve profitable customer relationship because he understands and satisfies his customers’ needs and wants.
“When you look out at a casino floor, you see people playing blackjack or the slots; when Gary Loveman looks out at that floor, he sees his slots or his table games playing you.”
Read more about Casino Marketing:
Wonderful job using class terms in your post, well done!