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Casino owners want to do a better job they noted that better modeling of customer behavior might help hotel managers to more intelligently market the use of.

But gaming customers are very different in one major respect. Can casino owners more accurately identify and predict which of their regular customers will lose the most money? How often will these casino market montpellier visit? How will they allocate their bets among slots and tables? By targeting those casino market montpellier, can casinos follow up with a more effective direct marketing campaign? The three researchers — marketing professors Raghuram Iyengar and Jehoshua Eliashbergand Sam K.

Hui, a marketing professor at Stern — say that the answer casino market montpellier an unqualified yes. In addition, the team looked at ways that demographics could provide casino owners with valuable marketing insights. The data suggested, for example, that women devote more of their spending to slot machines than to table games like blackjack, and that men have a higher level of skill at the gaming tables than women. Iyengar and Eliashberg suggested that more useful information could have been gathered if they had been given more specific demographic data.

While the characteristics they studied are fairly unique casino market montpellier the gaming industry, the authors said there are other business situations in which customers can be identified and targeted based on go here specific skills or unusual customer behavior. For instance, they noted that better modeling of customer behavior might help hotel http://caroljadesarah.info/big-easy-slot.php to eagle casino reviews intelligently market the use of mini-bars or business centers, or allow car-rental firms to target extra-cost products like GPS units or satellite radios.

But it is the sheer size of the casino industry in the United States that makes it such a strong candidate casino market montpellier this kind of individualized predictive modeling, more commonly known as database marketing. Americans spend more money on gaming than on trips to the cinema by a ratio, and casino market montpellier money is lost during a typical casino visit than is spent in an average visit to a mall.

Unique aspects of the casino industry suggest that this web page operators should be developing different tools for customer relationship management than, for example, mall operators — who analyze how much customers spend on a typical visit to a store and what casino market montpellier they purchased.

Through the use casino market montpellier gaming loyalty cards and other tools, casino executives have the ability to more closely track the performance of individual gamers. Does the customer wager casino market montpellier on slot machines or at the tables? You also have to look at the skill level. You need a model for human beings. Iyengar and Eliashberg noted that casinos already perform broad mathematical calculations — based on aggregate behavior — in an effort to predict their overall revenues and profits.

The data that researchers examined came from a major U. It provided the authors with detailed information — gathered through the use of loyalty cards — on more than 1, customers who made a total of about 9, casino visits from December through April The gaming company also offered age and gender information for about of those customers.

Beyond that, they also urge additional research on casino promotional activities — such as complimentary hotel stays or cash-back awards — in order to develop a better sense of how marketing efforts affect high and low revenue gamblers differently. In addition, they note that the customized data could help operators as they weigh how to better design their casino floor space to increase revenues, such as the use of environmental cues to encourage gambling or altering the ratio of table games to slot machines.

In future research, the authors note, they would like to examine more demographic data such as relationship status, home address, profession and education level to gain even more insights into gambling habits.

According to Iyengar, the research has implications in other industries. As the digital revolution keeps on turning, brands are looking to artificial intelligence to bolster their marketing efforts. Boomers and millennials are defying expectations about where they live and how they get around — changing the future of urban mobility.

Log In or sign up to comment. All materials copyright of the Wharton School of the University of Pennsylvania. Wharton, University of Pennsylvania The K W Network: Marketing How Casinos Can Find and Target Their Favorite Customers: The Biggest Losers May 13, North America.

Supports K W's Marketing Content. Additional Reading Marketing The Next Wave: Using AI to Build Better Marketing Campaigns As the digital revolution keeps on turning, brands are looking to artificial intelligence to bolster their marketing efforts.

Public Policy The North Korean Crisis: Shaping the Future of Car Casino market montpellier Boomers and millennials are defying expectations about where they live and how they get around — changing casino market montpellier future of urban mobility. Join The Discussion Casino market montpellier Comments So Far Log In or sign up to comment. Knowledge Wharton Partners View All Partners Partner Collaborations Become a Content Partner.

Podcasts Hear what CEOs, Wharton faculty, and other commentators have to say about the latest business trends, breaking news and market research in their own words. Facebook Casino market montpellier   LinkedIn. About Knowledge Wharton Become a Content Partner Privacy Policy Feedback All materials copyright of the Wharton School of the University of Pennsylvania.


Casino market montpellier

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