Target market der generation as their target market. However, the resort style amenities of MGM appeals to the younger generations. The entertainment segment also attracts the younger generation with resort-style complexes Cheap Jarell Martin Jersey , gourmet restaurants, and trendy nightclubs. MGM appeals to both older and young customers. Behavioral segmentation The MGM attracts five types of customers; recognition seekers, escapist Cheap Zach Randolph Jersey , reward seekers, socializers, and professionals. Escapist seek a getaway to entertainment sections and resorts located in different areas. The reward seekers are driven to visit the business due to their vested interest in rewards that casinos tend to offer. Socializers require a form of engagement where they get to meet different people as a form of distraction out of the ordinary way of life. Professionals make a living out of casinos and pay close attention to what a casino offers. Psychographics The casino marketing is directed to individuals who want to have fun and those who are willing to risk their mortgages (Klebanow Cheap Bryant Reeves Jersey , 2009) Importance of identifying target markets to MGM Resorts International. Not everyone is interested in what a business has to offer. Thus, identifying a target market is important to any business for various reasons. The identification of a target allows a business to have a clear focus as compared to adopting a general approach in a differentiated marketplace. The business can then offer goods and services specifically aligned to customers鈥?needs. Additionally, the analysis of the market helps the business to determine how much customers are willing to spend on what the business offers. A business can Cheap Lorenzen Wright Jersey , therefore, plan in advance on what is expected to meet the requirements of the target market. Once a business determines the target customer, it can help to point precisely the markets needs and wants. It also ensures products and services offered to a specific target market are profitable. The business can Cheap Mike Bibby Jersey , therefore, avoid inefficiencies as a lot of resources would be used in trying to reach many individuals who may not be interested in what the business has to offer. SWOT analysis Strengths 鈥?Reputable brand 鈥?Successful business model
Weaknesses 鈥?Geographically concentrated assets 鈥?Low credit rating Opportunities 鈥?Growing demand for products 鈥?Global reach of business 鈥?Emerging markets Threats 鈥?Fluctuating rates in the international markets 鈥?Competition 鈥?Government regulations
Reputable brand MGM Resorts international company has an already established brand in the gaming, hospitality and entertainment market: (Owusu Cheap Shareef Abdur-Rahim Jersey , 2014) The Company is one of the world鈥檚 leading companies with significant holdings in the industry. Successful business model The business owns and operates in different localities and international markets such as in China. The geographically diverse businesses can help the company shield the business from shocks in any one part of their business. Different locations and countries have different characteristics. Therefore, a business lowers risks by investing in different parts that have characteristics do not always match and increase the value of the business over the long-term Weaknesses Geographically concentrated assets Most of the MGM businesses are situated in the United States. Being an international business, the level of concentration in one country is very high. This is a challenge as businesses in these areas are likely to face similar problems. Low corporate credit rating MGM has a low credit rating compared to most of its peers at B-. (Gore Cheap Allen Iverson Jersey , 2015)The high business dependence on credit also presents a risk associated with high debt to equity. Opportunities Growing demand for products MGM Resorts International has experienced an increase in demand for its products in the recent past. For example, China has provided a large market for the company鈥檚 products. Such increases in demand present a good opportunity for the company. Additionally, the increase in the number of retirees is also likely to increase the demand for older aged activities and products such as leisure activities Wholesale Memphis Grizzlies Jerseys , Casino stocks, and boating. (MGM, 2015) Emerging markets There are strategic investment opportunities in the emerging markets that have shown diversification benefits and higher expected returns. The demand from these markets presents an opportunity for higher margins and growth for the business. Threats Government regulations The company has to ensure that it operates in accordance with the existing regulatory environment. For example Wholesale Grizzlies Jerseys , the casino control Act requires companies operating in the line of business to adhere strictly to the requirements. Possible government interventions also increase the risks as the government has a history of making adverse changes to protect consumers and the environment. Competition There is ease of competitor entry in the hospitality and entertainment market. The ease of entry presents a threat to MGM Resorts International. Fluctuating rates in the international markets Foreign investments typically produce returns in local currency. Currency fluctuations in the international markets may negatively impact the total return of investment for the company.
References Gore K. (2015) MGM Resorts International 鈥淏-鈥?credit rating. MGM Reso
Medienpiraten unter sich
Thema drucken
02.01.2020 07:23
Antworten
