The High Energy Rush of Gambling at Harrahs Essay

When choosing to gamble their hard-earned money and although most do not believe they are going to win, consumers are spending their money on the emotions and feelings the activity of gambling conjures. Consumers gamble because they want to feel the high of an adrenaline rush, escape the pressures of their daily lives, and feel as if they are engaging in risky behavior without actually betting their life in exchange for the rush. The feelings of exuberance and anticipation are most of the package deal in which consumers invest when they make the decision to bet their money inside a casino, or in any other gambling environment. Although consumers know the odds are not stacked in their favor for significant monetary gain, the feelings and†¦show more content†¦One important way Harrah’s utilized DBM was by analyzing customers using a method called opportunity-based segmentation. When customers began to use their loyalty cards, they started to leave behind a digital trail of every type of gameplay activity they engaged in while gambling at Harrah’s. This enabled aspects like betting patterns, play preferences, where they frequently ate at the casino, how often they bought a hotel room, how often they visited, how much money they played, and how long they played to be tracked and monitored by the marketing department. This information, coupled with basic client information like name, address, phone number, and birthdate, gave Harrah’s the opportunity to create intricate customer profiles. Through these customer profiles, Harrah’s was able to predict potential customer playing patterns and compare these predictions with observed behavior. Differences in observed and predicted behavior allowed Harrah’s to identify three opportunity segments where the customers were believed to be â€Å"high-worth† and worth the time and money investment to convert them to Harrah’s customers only. 1. Low observed frequency visits with a high predicted frequency→high worth 2. Low observed frequency visits with a high predictedShow MoreRelatedManaging Information Technology (7th Edition)239873 Words   |  960 Pages CONTENTS Preface xvii Chapter 1 Managing IT in a Digital World 1 Recent Information Technology Trends 2 Computer Hardware: Faster, Cheaper, Mobile 2 Computer Software: Integrated, Downloadable, Social 2 Computer Networks: High Bandwidth, Wireless, Cloudy New Ways to Compete 4 New Ways to Work 5 Managing IT in Organizations Managing IT Resources IT Leadership Roles 4 5 5 7 The Topics and Organization of This Textbook 8 Review Questions 9 †¢ DiscussionRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesOpening Vignette (Testing NFL Quarterbacks) †¢ New feature: glOBalization! †¢ New Myth or Science? (â€Å"Work Is Making Us Fat†) †¢ Discussion of the implications of the Great Recession †¢ New material on legal issues †¢ Updated discussion of the effects of high performance work practice on employee attitudes and behavior †¢ Expanded discussion of the effects of staffing decisions on employee turnover †¢ New section on Job Performance and Workplace Civility †¢ New material related to performance appraisals and