Strategic Marketing - Essay Example

? Marketing Module 3 Case Study of the of the Marketing Module 3 Case Study INTRODUCTION Gone are the days when a consumer was simply satisfied with a single generic product or brand. Today’s consumers want variety, they want customization, they want a product or service that appeals to their individual needs or to the needs of their social class or age segment or even subculture. The success of Primm Valley Casino Resorts, located at least 35 miles from its bigger cousin Las Vegas in Nevada County is proof that there is indeed truth in the value of segmentation- and that targeting the large Hispanic segment in America is a safe bet that has worked. FACTORS THAT HAVE MADE THIS STRATEGY SUCCESSFUL Primm Valley Casino Resorts is located at least 35 miles south of Las Vegas in Nevada. With this prime location within driving distance, it is surprising that Primm Valley has even managed to court business- but it has and to a substantial degree is evident from the money that is earned on busy weekends. Behind the success of Primm Valley is the concentration on the needs of the large Hispanic population that dominates this and surrounding areas. Hispanics love to travel in groups and many of these groups of friends, neighbors and relatives meet at the resorts or come together to have a chance at the tables, slot machines, dine, drink and have a good time. What greets them here is the sights and sounds of their own language and culture, as the atmosphere is full of Spanish speaking males and females having a good time. Even the waiters and bartenders are Spanish. The signs are in Spanish too, as well as the instructions on every corner. No need to know English here-what a relief! Finally one can enjoy an evening Spanish style. Look, there are even Spanish singers to entertain the crowds in this wonderful language. It is like bringing Spain to America (Medina, 2011). PRINCIPLES AND IDEAS THAT EXPLAIN THIS SUCCESS A little analysis will show that market segmentation, targeting and positioning is behind this success. The resort has capitalized on the needs of the Hispanic market, made the entire process language friendly and also brought in Hispanic singers and entertainers. Segmentation refers to deciphering, analyzing and catering to the needs of a particular segment of the population, in this case the Hispanics. Population censuses have indicated that this is the biggest and fastest growing segment of the US population in the last two elections, so no wonder a good many Hispanics flock the casinos. Besides, there is no sound sweeter than the sound of your own native language, no matter where in the world you are. At the resort, people are served by Hispanic waiters and even the signs at the tables and slot machines are in Spanish. The slot machines are quite a favorite with the Spanish. Being a society that loves to work in groups, Spanish people are influenced by others in their group and also like to follow the lead of others who are having fun in shared activities. Eva Mendes, Eva Longoria, Teri Hatcher and Jennifer Lopez would likely be some of the stars they look up to and want to emulate. By targeting the opinion leaders in the Spanish community, the management of Primm Valley Casino Resorts stands a good chance of continuing to get good business. LESSONS IN TARGETING A NEW MARKET The case study of Primm Valley Resorts is a good example of how to segment and target a new market. Quite obviously the builders and marketers for the resort project had the Hispanic population in their sights as they created the casino and resort areas. While there is a concern that going to the casino regularly would turn some of them into gambling addicts, Latinos know that help is available and take the risk in stride. The management of the resorts thus needs to target proper reference groups. There may be people with different opinions in Hispanic society. The dis-associative group would prefer to shun the resorts altogether, stating that it would lead to the gambling habit, or maybe that it is a sin to resort to gambling. The associative group would state that if we are careful, we can still play and have fun without making it a habit. The choice is up to us. Aspirational groups can be lured with the possibility of making hundreds, even thousands of dollars in one night or over the weekend. The main lure of resorts is the chance to have fun and relax, gamble to win and eat, drink and party to your heart’s delight. Everything looks so glitzy, fun-filled and exciting- there is little chance to resist. One would be more inclined to join the fun at the resort if told by someone who had themselves been there and had a good time, rather than those who had heard about the resort but not been there themselves. Primary information- or information from the horse’s mouth is always regarded as more authentic than secondary information, or mere hearsay (USC Marshall, 2011). Consumer attitudes are also an important element of the psychology of buying behavior or the propensity to take part in an activity. It is a composite of our beliefs, feelings and behaviors towards a certain event or product. A consumer may have both positive and negative beliefs about gambling for instance. The possibility of taking in some good winnings is offset by the mindset that gambling is sinful and immoral. So we have to balance the advertising in a way that encourages people to forget their doubts and participate. Word of mouth conversations about the winnings to be had or about the fun and frolic to be indulged in is often the best advertisement. The main appeal should be and usually is directed towards the 40 year and under crowd, though middle aged couples are also known to gamble in a ‘lose all’ or ‘take all’ effort. Occasionally we will also have the business tycoon try his or her hand at beating the odds but this is less likely. When the strength of the belief is multiplied by the importance a consumer attaches to it, what we bet is the affect of the belief on the consumer or the degree that his opinion will be swayed by some additional positive or negative information about the product or service (USC Marshall, 2011). Advertisers and marketers begin by trying to feed in new beliefs that complement the consumer’s already formed perceptions about the product, its uses, abilities and quality. They can refute a widely held and long formed opinion through repetitive advertising and the respect of the endorser. Sometimes they can also appeal to consumers who favor other brands by elucidating the advantages or superiority of their brand over the others. All these methods can influence buyer opinions and perceptions and hopefully alter his or her behavior (USC Marshall, 2011). CONCLUSION We have seen through this case study how marketers have capitalized on the proximity of the Hispanic population to influence the business prospects at their casinos and resort. This is a wonderful and clear example of marketing principles put into practice in the real world. References Medina, Jennifer. (2011) Casino Town Puts Its Money On Hispanic Market. http://www.nytimes.com/2011/08/30/us/30primm.html?_r=1&hp USC Marshall (2011). Information Search and Decision Making. Accessed on 25 Nov 2011 at http://www.consumerpsychologist.com/cb_Decision_Making.html USC Marshall (2011). Attitudes. Accessed on 25 Nov 2011 at http://www.consumerpsychologist.com/cb_Attitudes.html USC Marshall (2011). Group Influences. Accessed on 25 Nov 2011 at http://www.consumerpsychologist.com/cb_Group_Influences.html Read More