Q1: Briefly discuss Harrah’s marketing information system.
Harrah’s Entertainment Company has won an edge over its competitors by investing more on its CRM (Customer Relationship Management) rather than on anything else.
They use the technique of gathering data to get customer’s insight. They use the Total Reward System.
It means that the “Total Reward Members” collect points based on the amount they spend at Harrah’s facilities. They can then convert the points into various advantages, such as into cash, food, merchandise, rooms and hotel show tickets. This makes the consumer use the card and when they use the card according to their needs, the data of usage of each individual consumer is given to Harrah’s. This information is the key and very important to help Harrah’s identify their consumers’ needs and to serve them accordingly. They clearly understand what is needed more and liked by the consumers.
They not only take information from Total reward System, but they also identify which kind of people are coming. Such as middle class, doctors, teacher etc. With this psychographic segmenting information, they can provide the consumers with what they are really looking for. Then they improve those products which give more contentment and satisfy more consumers. Relating Harrah’s Marketing Information System to the Given Figure: * Assessing information needs is done by Total Reward System. * Internal database is collected specifically from each consumer. * Marketing intelligence helps to provide proper services based on the data collected. * Marketing research is done by using data to develop product and services which capitalize the users. * Analyzing and using information data to achieve the best customer experience.
This marketing information system helps the managers and employees to understand what exactly the customers need and want.