Diamonds in the data mine Case Study Solution
1) Objective
The objective of this case study is to define how a company should retain its customers without investing in any additional equipment or any fancy facilities for customers. However, it can be done by facilitating customers with higher level of service, along with some loyalty benefits which is in customer’sinterest. Identifying customer’s need, level of interest, reason of becoming your routine customer and customer’s level of worthiness for your business could help you to develop a strong marketing strategy in order to grow your business. Moreover, using resources efficiently plays an important part in achieving company’s goals.
Resources are not only assets and equipment, but human resources such as employees are also a very important force in a service business which would take a business either to hugeprofits or can be an important resource to make a high level loss in business. Company had used its workforce efficiently by giving them bonuses and attractive packages in order to provide a very good service to customers, especially loyal customers. Resources, which are used for enhancing company’s level of service to its customers also includes slot machines, which is used by customers for gambling. Harrah’s management used this resource efficiently by gathering customer’s data such as level of income, number of visits to the bar and many more. This information is used to generate the facilities that are required and appreciated by customers.
Developing an effective market strategy is also an effective part for the company’s growth. However, company had just gathered customers by implementing right marketing strategy at the right time. As the competitors cheated the company’s strategy, they couldn’tsucceed as rapidly as Harrah’s Entertainment.
2) Case setting
In 1998, Harrah’s entertainment had become one of the biggest nationwide casino. Moreover, it had been expanded from two states to 26 casinos in 13 states. The reason that has been discussed behind the unbelievable success of casino in a short span of time is the value that had been facilitated to customers, especially loyal customers, by their employees and management.
Unlike the vision of other casinos that “if you build it, they will come”, which refers to building fancy attractions for customers such as fountains, waterfalls and fair lights. However, Harrah considers to facilitate customers with value added services such as serving them on a fast pace, greeting them and providing service according to their interests and requirements.
The internal people that have been involved and had played key role in the succession of Harrah’s Entertainment includes:
- COO- Gary Loveman
- CEO- Phil Satre
- Employees
- Management of the company
- Loyal customers
COO and CEO have worked together and developed an innovative marketing strategy to attract customers in different ways. This marketing strategy resulted in growth in customer base, retention of potential customers and increase in casino’s demand in different states and places. Employees also played an important part for the company’s success. Such as they provided customers with special protocol and facilitated them with an outstanding service, which helped the company to successfully implement its strategy. Moreover, management of the company also played an essential part. The management collected all the customers’ data from machines, arrangedthe priorities for different level of loyal customers as well as trained employees to behave properly and facilitate customers with better services. Lastly, the loyalty of customers was an essential part in company’s growth. As the number of loyal customers increased with their upward shifting in loyalty such as from gold to platinum to diamond, the company’s growth had a remarkable impact.
Diamonds in the data mine Harvard Case Solution & Analysis
The effectiveness of company’s strategy has resulted in the growth of thecompany. Effectivenessof a company depends on the efficient use of its resources such as capital resources and human resources. Effective use of capital resources includes use of spin machines, which was not only used as a game machine for customers but it also facilitated management with the information regarding customers, such as their interests, the time spent on cuisine and their worth to the business. This information helped the management to develop effective marketing plan for each customer type. In addition, company also uses their employees as human resources and use them effectively by attracting them through bonuses and commissions for providingthe customers with outstanding services.
3) Business Processes Impacted
The following business process has been used to impact on Harrah’s Entertainment business processes:...........
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