Responsible Gambling - Assignment Example

Responsible Gambling Executive Summary This assignment mainly highlights the positioning strategy as well as the behaviours that need to be presentedtowards the customers so as to retain the older ones and to attract new ones. Along with this, a plan is also discussed in regards to marketing mix so that it might lead to the betterment of the organization of gambling in Macau. Apart from this, it also highlights the total cost required along with the tagline, messages and the brand ambassador required to make such a plan, highly successful. Table of Contents Executive Summary 2 1) Positioning Statement: 4 1.1 The Importance of the Behaviors Required For the Target Customers and Its Value 4 2) Development of Marketing Strategies 5 2.1 Designing the Product platform 5 2.2 Price: Developing pricing strategies 6 2.3 Place: Developing the Place Strategy 7 2.4 Promotion: 8 3) Develop A Plan for Monitoring and Evaluation 8 4) Establish Budgets and Find Funding Sources 9 5) Complete an Implementation Plan 9 References 11 1) Positioning Statement: 1.1 The Importance of the Behaviors Required For the Target Customers and Its Value Responsible Gaming is recognised as the concept with the help of the operators of gaming and gambling industry or software suppliers desire to offer safe and fair gaming experience to its customers. It is done in order to save the customers from the negative impacts of gambling or gaming. Apart from this, maximum extent of the industries or organizations operating in this industry try to implement land-based and online gambling services so as to enhance the reliability of the customers (Wenderoth, 2009, p. 21). Other than this, with the help of responsible gaming or gambling process, the customers get protection from vulnerable practices, protection against fraud and non-ethical behaviours of other consumers, maintenance of varied information’s utterly private, ensuring prompt payments, delivering a fair and ethical gaming experience, high-level of commitment is also observed to enhance customer satisfaction and demands to retain them. Such types of behaviours are extremely essential for the consumers of the industry of gaming or gambling as their age-bar differs from one another. The prime target audiences seen in the industry of gaming or gambling are mainly youths within an age limit of 18 to 28. In order to fulfil their excitement and fun, maximum extent of these youths of the wealthy families of China, Thai and Korea enter into this sector. The individuals getting attracted to gambling, desire to attain relief from varied types of mental distress and tension, so it is extremely essential to present humble behaviour with them. Otherwise, due to certain fraudulent conducts, he or she might get disturbed resulting in breakdown of their physical and mental health. Due to which, the reputation and image of the organization might get ruined resulting in switch-over of numerous other customers as well. Moreover, adults and parents, suffering from varied types of economic and social hardship, desire to engage themselves in gambling to get rid from such problems. Thus any type of worse behaviour might create an adverse impact over his or her mental psychology thereby amplifying the rate of consumption of alcohol and cocaine. So if ethical and good behaviour is presented to the customers by the individual engaged in this industry might prove effective in reducing the consumption rate of alcohol and cocaine. Along with it, the rate of crimes might also get reduced to a certain extent as compared to others. Side by side, the rate of excitement and fun might also get enhanced hereby attracting large array of new customers towards these organizations. It might also enhance the brand value and profitability of the organizations. 2) Development of Marketing Strategies 2.1 Designing the Product platform Core product is described as one of the dominant factors or satisfaction that a customer desires to attain from a specific product or service. It is often a non-rational factor expected by the customers. Similarly, in case of gambling or gaming industry, the core product need to be ethical behaviour (reduction of frauds) and fair rules of the games so as to attain the required amount of physical and mental satisfaction. Along with this, those desiring to earn some amount of revenue might also attain it, due to reduction of fraudulent activities within the organizations of gambling (Wenderoth, 2009, p. 22). Actual product refers to the tangible features of a product or service namely the brand name, design, value, characteristics and many others. Thus in case of gambling or gaming industry, the actual product needs to be good brand value and its ethical rules and regulations. Due to these features, the level of satisfaction of the customers gets enhanced resulting in amplification of the sustainability of the organization in the long run among other rival players in the market. Side by side, the rate of competitiveness also gets enhanced in this aggressive market scenario of gambling. Augmented product is described as the additional features that come with the core product or service of an organization such as after sales services, warranty and many others. Thus the augmented product of gaming or gambling services needs to be prompt payments of the revenue to the winners. Due to which, the level of satisfaction gets enhanced to a certain extent as compared to others. Side by side, the level of reliability and trust of the customers over this organization also gets enhanced to a considerable extent resulting in reduction of switch-over to other brands (Wenderoth, 2009, p. 22). 2.2 Price: Developing pricing strategies In case of any sort of tangible service (such as omission of the participation fees) might be offered by the gambling organizations and then it may attract numerous customers towards it. As it would be offered in a campaign then it would be entirely for promotion of the organization. And due to which, no revenue would be accepted from the customers on that day of promotion. The customers attaining the campaign might be presented a card so as to resemble them from others in the entire group (Wenderoth, 2009, p. 23). Apart from this, in order to enhance the brand image and dominancy in the market, varied types of coupons and rebates might also be presented to the regular customers. With the help of these cards, the customers might become able to play 2 more times as compared to others, to retain their reliability and trust over the brand. Side by side, in case of any sort of fraudulence within the organization might implement fines and extra taxes over those customers. For example: the amount of money used for playing is implemented as fine for the fraud customers. If any of the customers consequently win more than 4 games then he or she might be entitled for monetary rewards or recognitions (like free holiday package for the entire family in his desired place for 2 nights). This is done to improve the inner level of contentment and pleasure of the heart of the customers, that’s extremely essential to enhance the level of sustainability of the organization in this age (Richter, 2012, p. 9). Nonmonetary disincentives are those that do not comprise of any monetary value. In case of gambling, inadequate supervision acts as a nonmonetary disincentive. It might reduce the range of customers desiring to attain the excitement and enjoyment of gambling with others. So, it is essential to offer accurate supervision to maintain ethical behaviour with other team mates to maintain its supremacy in the market (Mcdonalds, & Wilson, 2011, p. 30). If all these above mentioned strategies are followed then it might surely prove effective for the organization of gambling leading to its advancement in future era. 2.3 Place: Developing the Place Strategy The target audience need to perform the desired behaviour at the time of presence within the organization so as to maintain the reputation of the organization among all. It may be done only if the other members of the organization strongly support them in doing so (Govinfo.library, n.d.). If the behaviour of the target customers remains extremely praiseworthy then he or she might win a tangible object. He or she might receive such an object within an organization at the time of presence of any reputed person. This might help in enhancement of the popularity of the organization in front of that reputed individual in the entire market. Therefore, if all these strategies are obeyed then it might surely be helpful for the organization in the next few years (Reith, 2006, p. 15). 2.4 Promotion: Promotion is the most essential requirement or any product or service at the introduction stage or re-launches stage. This is because, by promoting a product or service, the level of awareness may be increased to a certain extent among others. Along with this, the target customers might also become aware of the features of the product or service (Calkins, 2012, p. 18). In case of enhancement of the brand image of gambling or gaming sector, the key message need to be “COME AND FEEL THE HEAT OF ENJOYMENT”. This might help to attract the gambling crazy individual towards the organization to get refreshed again. The messages need to be displayed through social media and newspapers as both are preferred by the youths and adult audiences. Apart from this, it may also be displayed through banners and posters in the congested areas so as to increase the level of responsiveness of the willing customers (Bowman, & Gatignon, 2010, p. 36). The logo of the message might be a smiling individual standing with hands full of money in the organization. Tagline need to be “come and get refreshed” so as to present a delighting atmosphere for the individual extremely distressed due to physical and mental tortures. The tagline need to be visualised with red colour and 3D effects in it so as to make it noticeable to all passersby. The brand ambassador need to be the popular actor of Macau, Mr: Alex Fong with the song: ‘Oh Careca tira a bóina’ in background. 3) Develop A Plan for Monitoring and Evaluation Monitoring and evaluation of the gambling organization of Macau is done in order to analyze the effectiveness of the brand among other rivals in the market. Along with this, by doing so, the underlining strategies might be reformed resulting in amplification of its range of customers and profit margin. Therefore, the prime purpose of this type of evaluation process is to attract new range of customers to increase its competitiveness in the market (Codita, 2011, p. 30). The entire evaluation process is performed for the advancement of the organization and its members and is presented in front of the target consumers of gambling. It is done to enhance the total number of customers to 10 from 4 in every round. In order to make the process of evaluation, a success, the management board need to offer high level of concentration over social media advertisements. This might help in attracting large number of young customers as they are always in the chat list of their peers. This group of individuals offer high attention over the advices of the friends or peers. So if once the peers or friends recommend the name of the brand or organization, then he or she would surely visit it once in any festival or occasion (birthday party or dinner) (Belohlavek, 2008, p. 6). Thus the entire evaluation and monitoring plan would take 1,800 Chinese Yen. 4) Establish Budgets and Find Funding Sources The entire cost required for the evaluation of product-related strategies would be 100 Chinese Yen approximately. For price related strategies, 150 Chinese Yen approximately required and for place related strategies, 100 Chinese Yen might be required. Finally for promotion related strategies, 200 Chinese Yen is required approximately. For evaluation related strategies, 200 Chinese Yen might be required. However, if the total cost exceeds the currently available, then the management team might contact the wealthy individual of the region for monetary assistance. In this way, the evaluation and monitoring program might become successful (Shead, & et.al. 2011, p. 45). 5) Complete an Implementation Plan Yes, it needs to be performed in different stages just like beginning, growth and decline stage. In the beginning stage, all sorts of strategies need to be finalized so that the best one may be implemented in the next stage. Along with this, varied types of ideas and notions are also discussed among the other members so that the plan might become utterly successful in the market. Apart from this, in the next stage, the ideas and plans need to be implemented so as to enhance the reputation of the organization among others. Side by side, the goal of attracting huge range of customers might also be increased to a significant extent leading to enhancement of the amount of revenue. The final stage is decline stage. In this stage, the effectiveness of the previous stages might be analyzed. Along with this, the total amount of profit as well as the cost required to implement all these strategies might also be evaluated. In this phase, the ideas and plans are discussed vividly among other members of the group to evaluate the effectiveness. All the members as well as the management of the organization are responsible for the implementation of these plans. It needs to be done for the betterment of the organization that might be witnessed in the next five years. References Belohlavek, P., 2008. Unicist Marketing Mix.. Blue Eagle Group. Bowman, D. & Gatignon, H., 2010. Market Response and Marketing Mix Models: Trends and Research Opportunities. Now Publishers Inc. Codita, R., 2011. Contingency Factors of Marketing-Mix Standardization: German Consumer Goods Companies in Central and Eastern Europe. Springer. Calkins, T., 2012. Breakthrough Marketing Plans: How to Stop Wasting Time and Start Driving Growth. Macmillan. Govinfo.library, No. Date. Gambling’s Impacts On People And Places. Gambling. [Online] Available at: http://govinfo.library.unt.edu/ngisc/reports/7.pdf [Accessed on 11 September, 2013]. Mcdonalds, M. & Wilson, H., 2011. Marketing Plans: How to Prepare Them, How to Use Them. John Wiley & Sons. Reith, G., 2006. Scottish Executive Social Research. [Online] Available at: http://www.gla.ac.uk/media/media_34552_en.pdf [Accessed on 11 September, 2013]. Richter, T., 2012. International Marketing Mix Management: Theoretical Framework. Logos Verlag Berlin GmbH. Shead, N, W. & et.al., 2011. Youth Gambling Prevention: Can Public Service Announcements Featuring Celebrity Spokespersons be Effective? Int J Ment Health Addiction. [Online] Available at: http://youthgambling.mcgill.ca/en/PDF/Publications/2011/Cancelebrity.pdf [Accessed on 11 September, 2013]. Wenderoth, M., 2009. Particularities in the Marketing Mix for Service Operations. GRIN Verlag. Read More