Monthly Archives: September 2013

An Urban Resort

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After getting their proposal shot down in 2011 to build a mega-casino, Paragon Gaming has returned with another idea: to build a luxurious sports-entertainment district similar to the one in LA. To me this sounds like a great idea, but why is Vancouver not Vegas still petitioning against them? I understood why the mega-casino was a bad idea, it promoted gambling which can increase the debt rates in Vancouver. Additionally, it was an economically inefficient use of the land.

This new proposal by Paragon Gaming satisfies the government regulations and clearly states their intention is to not expand the gambling area. The location of this “sleek new design by architectural firm IBI Group with a glass-fronted structure, bookended by the hotel buildings” will attract more foreigners and generate more income for the local economy. According Globe and Mail, an economic impact assessment commissioned by Paragon, the project would create about 2,000 jobs and generate $180-million a year for the local economy, as well as annual spin-off spending of $87-million.

Though the downside of this project would be an increased volume of traffic on main street, which is already proven to be an issue. The development of this project would also mean that the City of Vancouver need to increase the number of lanes on the road. This urban resort might not be able to generate enough revenue to offset the cost of renovation to BC Place.

As a city dweller, I think this new project would help develop the False Creek area into a more exciting place to be. Additionally, this resort will give residents of Vancouver an option to escape reality and relax. Since BC Place attracts many people annually, having a nearby hotel will be beneficial, especially after late night events and concerts.

http://www.vancouversun.com/Paragon+Gaming+offers+million+resort+proposal+Place+lands/8952619/story.html

http://www.theglobeandmail.com/news/british-columbia/casino-company-rolls-dice-again-on-downtown-vancouver-development/article14504321/

Marketing Strategy Gone Wrong

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“Companies should never use tragedy to market their products and services, or do anything that could even be misconstrued as such,” said Matt Singley, chief engagement officer at Singley + Mackie Inc., an L.A.-based agency that consults with clients such as Samsung and Electronic Arts on their social media strategies. “From unrest in the Middle East, to the tragic tsunami in Japan, to 9/11 and the significance of that date for so many people, brands need to learn to back off and step in to the background.”

Many companies turn to social media to promote their products, yet many do not realize they are not adding value by reporting this information on social media. According to the Globe and Mail, on the 12th anniversary of the World Trade Center attacks, some companies referencing the event in marketing messages discovered that many consumers aren’t ready for such a strategy.

Making light of such tragedies do more damage than gain to the company’s image. Social media is the quickest outlet to get product information out, yet there is the possibility of consumers misinterpreting the intent of the message. For example, the intent of the AT&T”s message of “never forget” accompanied with a photo of a hand against the New York skyline was to pay respects to those affected by the 9/11 tragedy. Yet, twitter users viewed it as a comical satire of the situation; AT&T faced many criticisms as a result.

In the day and age where social media has become a daily routine of many lives, such events as 9/11 cannot be made light of as negative reactions could contribute to a decrease in profit. “Thanks to the proliferation of social media, potentially offensive marketing efforts reach increasingly wider audiences.” Not all publicity is good for company, and insensitive tweets are the proof of that. Companies need to be reminded that using world events as a financial opportunity will not enhance their reputation but create backlash.

Work Cited

“Ethics behind Social Media in Business.”Pamplin. N.p., n.d. Web. 12 Sept. 2013. <www.acis.pamplin.vt.edu/faculty/tegarden

eluta.ca. “Marketing tragedy: When ads become apologies – The Globe and Mail.”Home – The Globe and Mail. N.p., n.d. Web. 12 Sept. 2013. <http://www.theglobeandmail.com/report-on-business/industry-news/marketing/marketing-tragedy-when-ads-become-apologies/article14267057/>.

Image source: http://beta.images.theglobeandmail.com/cac/report-on-business/industry-news/marketing/article14267056.ece/ALTERNATES/w620/911-ad12rb1.JPG