Understanding the Marketing Mix
As competition among Native American gaming properties grows, there is increased pressure on casino marketing and operations managers to grow market share. This is normally achieved by either stealing share from other properties or identifying and attracting new market segments. Tales abound in the industry of half-hearted attempts to grow business. An aging casino, eager to attract high end play, hires a senior host from a newer property with the hopes of using his list of premium players. A local oriented casino, recognizing the importance of Asian garners, enters into an agreement with a junket rep who promises to deliver Asian players. Invariably such efforts fall short of their intended goals because these gaming operators fail to develop the proper marketing mix prior to servicing these new market segments.
While originally developed for the hospitality industry, the principles of the marketing mix are readily adaptable to business issues facing Native American gaming. First developed by Leo M. Renaghan of Cornell University’s School of Hotel Administration and later refined by Robert Lewis and Richard Chambers, the marketing mix is comprised of four distinct components: the product/service mix, the distributionView Full Article