Product Branding Las Vegas Style
Las Vegas is one of the nation’s favorite points of interest for vacationing. It’s a 24-hour/ 365 day a year city where anything is possible. With Las Vegas being a loved past-time and where dreams of striking it rich can came true, there is another side that no one bothers to mention, the reality side. Las Vegas has many attractions and more casinos than any other place in the world. They offer entertainment for the whole family, unique marriages, and most recently plenty of activities for children. Which means that companies must position themselves to be continuously communicative to their potential consumers, including the kids (Kotler, 2010, p. 210). Which also leads me to think that Las Vegas has came up with a new target market. Whereas Vegas' theme use to be "What happens in Vegas stays in Vegas"; it is more catching for them to now advertise "We Do It All In Vegas".
In the early 70's there was not a need to advertise as much as now because back then Vegas was for the rich and famous. Now since everyone especially this new generation goes there to gamble, the need to target more single people ages 18-35 are on the rise. Marketers figure that these young people have plenty of money (access to it) and they are willing to do everything in their power to get it. This target market was most likely selected for two main reasons. The first is because of the enormous profits to be gained from this particular group and the second is because of this group s lack of education and low self-regard. Nevertheless, if I were ever targeted by a business, it would be highly resourceful for that business to utilize the data of systems such as the Values and Lifestyles questionnaire to ensure a highly profitable venture.
The use of advertising by branding today is a essential part to the relationship between businesses and consumers. Companies that know why their customers act the way they do can gear their advertising...
References: Keller, Lane.,(2008). Strategic Brand Management (Upper Saddle River, NJ: Prentice Hall,) Chapter 10.
Kotler, A. & Armstrong, G.,(2010). Principles of Marketing 13th Edition (Pearson) Ch. 8-11.
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