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Market Research: Truth or Consequences

Market Research: Truth or Consequences
Posted on Oct 31, 2016 in Casino Marketing Comments

Market research and polls saturate news outlets in the days leading up to the presidential election. Take any debate, convention, issue or strategy and that candidate and their surrogates will show you the research results that he/she won…he/she has the support of the people…he/she will win…and on and on. Politics manipulate the truth…but business research is different.

Research is like a light post in the night. Politicians use it for support, while business operators use it for illumination.

In business, market research serves to acquire knowledge. At its core, the enterprise is listening to better understand current, future and defected customers.

Current Customers: Research questions are designed to identify current successes in product and service offerings and to better understand the attitudes and behaviors of gamblers and resort guests to build on their loyalty.

Future Customers: They may gamble elsewhere and you, as a casino resort operator, would like more of them. We want to learn their awareness, preferences and behaviors so that we can reach them and compel them to give us a try.

Past Customers: This is the casino resort audience who may have defected to your competitors. They can tell us why and provide direction to recapture their loyalty.

If you are truly looking for casino market research to improve your business, product, service and position, you need a study that gives you the truth. The truth is derived from asking the right questions of a random representative audience. And to get to that truth, you need a company with research and gaming industry experience to best design a study that will give you real answers.

Marketing Results has the experience of hundreds of resort casinos and online gambler market research studies and will design a project that gets to the real solutions. We have closely examined decades-worth of research data to find ways to understand the effects of methodology and improve data collection.

The importance of market research methodology, target participants, and questionnaire design cannot be overstated. Results will skew in different ways based on telephone calls versus online surveys. What your current customers tell you may not reflect the perceptions of the rest of the market. Asking questions in a particular way will steer participants’ responses.

With any market research project, we first work with you closely to understand your casino’s imminent concern or issue. Then we recommend research methodology and questions to best get to the answers. After a comprehensive data collection process, we help you interpret the results. This combined process enables you to gain an accurate picture of your existing and potential customers, leading to effective action.

In today’s business world, market research isn’t just helpful, it’s a necessity to your company’s long term success. Contact us today to get started on your research project. 

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