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More Essay Examples on Gambling Rubric The threat of substitutes refers to products and services that satisfy the customer in a manner that they provide a higher level of service and better economic competitiveness. Rivalry among existing firms refers to the fueds that takes place among competition in an industry which include the likes of price competition and advertising battles.
The Strengths and Weaknesses of SWOT refer to the internal conditions of the firm-where your firm excels strengths and where it may be lacking relative to competitors weaknesses.
Opportunities and Threats are enviornmental conditions external to the firm. These could be factors either in the general environment or in the competive enviornment. The product differentiation is forcing casino industries to expand on existing resorts or build new more expensive and extravagant resorts in order to compete with it rivals.
It will feature over the top qualities that will top all previous privately financed projects in American history.
Along with the increasing revenues in Las Vegas, waterbourne casinos have produced the greatest growth producing casinos at various rivers and lakes. Additionally, casino hotels in Atlantic City are making rennovations to help bring in more customers such as Caesars, Trump Plaza, and Hilton.
Finally, Native American casinos are increases across the U. Competition among existing firms is one of the key problems facing the casino industry. See graph below for figures. There is a large number of competition making the rivalry more intense.
The top two revenue leaders Native Amercian casinos and Nevada casino are leaders for a reason. The general enviornment has influenced Native America casinos to become number one in revenue.
With the passing of the Indian Gaming and Recreation Act ofNative Americans now have authourization to offer gaming on tribal lands as a way to encourage their self-sufficiency. In addition, Native American casinos are exempt from federal regulations and are not required to pay any taxes on their revenues.
They only have to pay a percentage of their winnings to the state in which they are located utilizing the political and legal segment of the general enviornment. Adding to Native American casino fortunes, their casinos are likely to increase over the next few years.
It is noted that several states are reaching agreements to allow the introduction or expansion of Native American casinos because of the additional revenues they can provide. This increases the Native American casinos opportunities and consitutes a high barrier for new entrants.
The major source for this entry barrier is the cost disadvantage independent of scale regarding the favorable government polices vis -a -vis the Indian Gaming and Recration Act of Nevada casinos are the second leaders in revenue. The strengths that they have generated are the availablity of more hotel rooms, fine dinning, excellent entertainment, shopping, mergers and acquisitions, customer loyalty, and product differentiation among its rivals.
With its many strengths, Nevada casinos represent a high barrier for new entrants as well mainly due to product differentiation and economies of scale.
Nevada casios use differentiation on the basis of special themes that characterizes their casinos, such as a medieval castle, a pirate ship, or a movie studio. Nevado casinos also rely on economies of scale as many of the larger casinos are expanding by buiding on additional rooms to bring in more customers.
Eventhough Nevada casino has many strengths, it also has a weaknesses. Two weaknesses they need to address are their distance away from gamblers and rising gas prices. In order to increase competition and revenues, the lagging revenue leaders Atlantic City casinos, riverboat casinos, and Western town casinos need to take advantage of Nevada casinos major weaknesses.
Some gamblers do not want to travel as far as Las Vegas to get the casino experience. Along with this fact, gas prices are steadly rising limiting long travels for vacation. Both facts increase the likelyhood that gamblers will seek the casino experience closer to their residential areas.
Atlantic City casinos, riverboats, and Western town casinos can take advantage of this by utilizing its own strengths which for the Atlantic City casinos is its closeness to various northeastern cities.
Substitues are the second major factor identified in the casino industry competitive environment analysis.Essay on social work degree essay luther king zitate auf englisch introductions for essay example dissertations opinion essay about the environment guardianship write an academic essay your hometown internet for education essay hobby lobby study abroad essay disadvantages reason essay about english class language week.
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Kudler Fine Foods Frequent Buyer Program James L. Lewellen BSA/ June 17, Thomas Potts Kudler Fine Foods Frequent Buyer Program The intent behind the development of Kudler Fine Foods Frequent Buyer Program is to increase the level of customer loyalty.