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Viva Las Vegas - PowerPoint

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					Viva Las Vegas

   July 15, 2008
Agenda
 Background Information
 Opportunity Identification
 Environmental Scanning
 Identification and Evaluation of Alternatives
 Recommended Course of Action
 Framework for Evaluation
 Questions and Answers
 Viva Las Vegas (Post-2003)
Background Information
   Las Vegas Attendance                Atlantic City Attendance
    (2000): 35.8 million                 (2000): 33.2 million
   Las Vegas Attendance                Atlantic City Attendance
    (2003): 35.5 million                 (2003): 32.2 million
   Attendance Drop:                    Attendance Drop:
    300,000                              1,000,000

    The average Las Vegas tourist in 2000 contributed $877 to
    Las Vegas.

    Thus, Atlantic City’s inability to effectively market cost them
    roughly $610 million dollars.
Las Vegas History
                                                     36.0
   Downtown area
                                                     35.9
    suffering
                                                     35.8
   FSE built
                                                     35.7




                              Millions of Visitors
   Neonopolis built                                 35.6

   Caesar’s Palace sold in                          35.5

    2000                                             35.4


   Significant drop in                              35.3


    attendance (early                                35.2


    2000s)                                           35.1


                                                     35.0
                                                            2000   2001   2002   2003
Opportunity Identification
The Las Vegas Convention and Visitors
  Authority has the opportunity to understand
  and appeal to numerous diverse groups of
  people who might make Las Vegas a
  vacation destination.

LVCVA Goal: Maximize the number of visitors
  to Las Vegas each year
Environmental Scanning
   Social-Cultural Environment
     Vacation lengths
   Demographic Environment
     Shift in composition of visitor pool
   Economic Environment
     Recession period (2000-2003)
   Competitive Environment
     Lucrative markets left untapped
Alternative Courses of Action
   Undifferentiated Targeting Strategy

   Concentrated Targeting Strategy

   Multi-segment Targeting Strategy
Undifferentiated Targeting Strategy

   Develop one television commercial for entire
    target market
Commercial
Undifferentiated Targeting Strategy
   Advantages
     Marketing costs lower


   Disadvantages
     Market defined too broadly
     Travelers likely to choose other cities over Las
      Vegas
     Advertisements unlikely to hold consumers’
      attention
Concentrated Targeting Strategy
 Appeal strictly to gamblers
 Attain large market share of gamblers
 Develop television commercials depicting
  casinos and gambling
Commercial
Concentrated Targeting Strategy
   Advantages
     Resources are concentrated on one market
      segment
     Strong position within that narrowly defined
      demographic


   Disadvantages
     Not maximizing potential financial success
     Target market is too narrowly defined
Multi-Segment Targeting Strategy
   Advantages
     Greater potential for financial success
     Larger market share
     Economies of scale in marketing


   Disadvantages
     Marketing costs higher
     Dealing with unique target markets
Recommended Action
 Multi-segment targeting strategy
 Segments based on:
     Gender
     Income
     Family
     Age
Female Appeal
 Affordability Appeal
Stratosphere

Air & 2 nights from $121*
2 for 1 show tickets

Centrally located, the Stratosphere Casino, Hotel and
Tower is at the top of the Las Vegas strip and the
closest strip property to downtown.



 Bellagio
 Air & 2 nights from $263*

 As the first AAA Five Diamond Award-winning resort
 and casino in Las Vegas, Bellagio offers a world of
 unparalleled luxury.
Testimonial
 My name is Ann Stauty and I recently planned
 a bachelorette party in Las Vegas for a good
 friend of mine. I am a mom, wife and a
 student and I was amazed at the affordability
 and availability of Las Vegas to even run of the
 mill people like myself. I planned the party
 with little effort. The entire group of girls,
 myself included, was amazed with the service
 Las Vegas offered us. We all felt like queens
 for a weekend. We all very much enjoyed our
 trip and as soon as I graduate from school my
 husband and I plan on taking a trip out there
 again.
Family Appeal
 Adventuredome Theme Parks
 Grand Canyon Tours
 Hoover Dam Tours
 Lake Mead Tours
 Red Rock and Valley of Fires Tour
Framework for Evaluation
   After implementation of recommended
    strategy, Las Vegas should:
     Show significant overall growth within one
      year of implementation
     Demonstrate increased penetration into
      each market segment
     Maintain a sustainable growth pattern
     Maintain image as a premier vacation
      destination
Q&A
Viva Las Vegas!
                                                    40
   Visitor attendance
                                                   39.5
    up every year since
                                                    39
    2001
                                                   38.5
   Advertisements now
                                                    38




                            Millions of Visitors
    tailored to different
                                                   37.5
    groups
                                                    37

   Markets now                                    36.5

    targeted                                        36
    internationally                                35.5


                                                    35
                                                          2000 2001 2002 2003 2004 2005 2006 2007
Group Members
 Kolby Houston
 Shirley Monzon
 Brian Hebert
 Lisa Chatman
 Elena Lozano
 Daniel Jensen
Sources
 http://www.nber.org/cycles/recessions.html
 http://www.visitlasvegas.com/press/statistics-
  facts/visitor-stats.jsp
 http://www.atlanticcitynj.com/resources_rese
  arch.asp

 http://www.youtube.com/watch?v=jrRipLBh6j
  o
 http://www.youtube.com/watch?v=x1_J7VHg
  FQE&feature=related

				
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