Casino Marketing Plan Essay
Sophie Stein
March 21st, 2015
Marketing Management
Casino Marketing Plan
As a business owner, if you want to run a successful business, you must have a marketing plan in place. Furthermore, that remains true when it comes to running a successful hospitaltity business. Hospitality businesses include but are not limited to the restaurant industry, hotel industry, retail and theme park industry, as well as the casino industry. While a marketing plan may sound intimidating, it is a rather simple technique, and one that is proven to be successful. If a business owner does not follow a marketing plan, or worse, he has a marketing plan but does not include his top leadership in on it, it is going to be a bumpy road ahead.
In the article “Developing the Casino Marketing Plan” by Andrew M. Klebanow, he simply breaks down the key aspects of a marketing plan, in regards to a casino. In the first section of his plan, he details that management should be aware of the casino’s surroundings, referring to the competition they are up against, as well as the customer’s they are serving and the location of their casino. This is an important first step which gages where and how casinos are living up to their competition. (Klebanow, 2002) …show more content…
After breaking down the first part of the marketing plan, which Klebanow titles “The Situation Analysis,” he moves on to setting objectives and strategies.
This part is especially important, because it determines where and how you want to grow in your business, and what you forecast in the near future. However, it is extremely to have realistic goals for the company. If your casino has two stories, it is unrealistic to make a goal to have three stories by the next year. On the other hand, a realistic goal might include purchasing more slot machines or having more tournaments on a weekly basis (like Black Jack or Gin) in hopes of bringing more customers to the casino (Klebanow,
2002). While I did think that the article was very insightful, I felt that it didn’t quite touch base on all of the endless possibilities for a casino. For starters, there was no mention of casinos located on cruise ships, despite the fact that cruise ships have hosted a whopping 169 million customers since 1990 (Mena, 2011). Additionally, it has been stated that on average, a cruising guest will spend approximately $1770 in one week. While not every cruise guest is going to gamble at the casino, there is a huge chance for a gambling revenue when there are annually 20,335,000 passengers, which does not include any passengers eighteen years old or younger (Cruise Ship Industry Statistics, 2015). If Klebanow had kept cruise casinos in mind, he would have been able to expand his marketing plans, resulting in at least a doubled revenue profit.
Bibliography
(2015). Cruise Ship Industry Statistics. American Association of Port Authorities, Florida-Caribbean Cruise Association.
Klebanow, A. M. (2002). Industry Trends: Gaming Leaders Sharing Tips and Tidbits. Developing the Casino Marketing Plan, 63-71.
Mena, H. (2011). Cruise Industry Overview. Pembroke Pines: Florida Caribbean Cruise Association (FCCA).
March 21st, 2015
Marketing Management
Casino Marketing Plan
As a business owner, if you want to run a successful business, you must have a marketing plan in place. Furthermore, that remains true when it comes to running a successful hospitaltity business. Hospitality businesses include but are not limited to the restaurant industry, hotel industry, retail and theme park industry, as well as the casino industry. While a marketing plan may sound intimidating, it is a rather simple technique, and one that is proven to be successful. If a business owner does not follow a marketing plan, or worse, he has a marketing plan but does not include his top leadership in on it, it is going to be a bumpy road ahead.
In the article “Developing the Casino Marketing Plan” by Andrew M. Klebanow, he simply breaks down the key aspects of a marketing plan, in regards to a casino. In the first section of his plan, he details that management should be aware of the casino’s surroundings, referring to the competition they are up against, as well as the customer’s they are serving and the location of their casino. This is an important first step which gages where and how casinos are living up to their competition. (Klebanow, 2002) …show more content…
After breaking down the first part of the marketing plan, which Klebanow titles “The Situation Analysis,” he moves on to setting objectives and strategies.
This part is especially important, because it determines where and how you want to grow in your business, and what you forecast in the near future. However, it is extremely to have realistic goals for the company. If your casino has two stories, it is unrealistic to make a goal to have three stories by the next year. On the other hand, a realistic goal might include purchasing more slot machines or having more tournaments on a weekly basis (like Black Jack or Gin) in hopes of bringing more customers to the casino (Klebanow,
2002). While I did think that the article was very insightful, I felt that it didn’t quite touch base on all of the endless possibilities for a casino. For starters, there was no mention of casinos located on cruise ships, despite the fact that cruise ships have hosted a whopping 169 million customers since 1990 (Mena, 2011). Additionally, it has been stated that on average, a cruising guest will spend approximately $1770 in one week. While not every cruise guest is going to gamble at the casino, there is a huge chance for a gambling revenue when there are annually 20,335,000 passengers, which does not include any passengers eighteen years old or younger (Cruise Ship Industry Statistics, 2015). If Klebanow had kept cruise casinos in mind, he would have been able to expand his marketing plans, resulting in at least a doubled revenue profit.
Bibliography
(2015). Cruise Ship Industry Statistics. American Association of Port Authorities, Florida-Caribbean Cruise Association.
Klebanow, A. M. (2002). Industry Trends: Gaming Leaders Sharing Tips and Tidbits. Developing the Casino Marketing Plan, 63-71.
Mena, H. (2011). Cruise Industry Overview. Pembroke Pines: Florida Caribbean Cruise Association (FCCA).