1. How does marketing research identify potential customers?
2. Is the use of database, such as those mentioned in this case, an invasion of customer privacy?
3. Why does the gaming industry make use of database so much more than other industry segments?
4. What is the impact of Customer Relationship Management techniques such as these on guest satisfaction?
How does marketing research identify potential customers?
Customer analytics has evolved from simply reporting customer behavior to segmenting customers based on their profitability, to predicting that profitability, to improving those predictions because of the inclusion of new data, to actually manipulating customer behavior with target-specific promotional offers and marketing. (How to Use Predictive Analytics in the Casino Industry | eHow.com|Andrew Pearson)
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In financial aspect, CRM minimizes the unnecessary wastage by direct marketing. Gartner Group (2001)’s research suggested that “apositive correlation between a company’s CRM maturity and it profitability. There are two waysto justify an investment in CRM- through increased revenues and through reduced costs. A goodCRM solution should ideally enhance the bottom line in both these ways. Effective CRMimproves productivity levels, workplace environments, and customer retention, thus increasing. High customer retention means savings in acquisition costs for replacingcustomers who would otherwise be lost to competitors.