Mandalay Resort Group the Events

Mandalay Resort Group

The events of September 11, 2001 have severely affected the gaming industry in Las Vegas. One of the conglomerates that were most affected by these events is the Mandalay Resort Group. However, Mandalay's consistent success and tradition helped the group to survive these events and to reclaim its position as a leader of the gaming industry in Las Vegas. Mandalay has come a long way since its beginning in 1974 as Circus. Its success is probably due to the work of a strong management team that was able to manage crisis situations, to make accurate predictions about trends of the market.

Another characteristic of Mandalay's management team is its empathic connection with the gaming market, on the one hand, and with clients, on the other hand. Mandalay has developed its locations into profit centers. Even more, the group cleverly expanded its business to other targets of customers, like the middle income gambler and family oriented vacationer.

However, Mandalay's lack of a mission statement should concern the company's managers, since any company, no matter the field it activates in, should be able to express a mission statement. Therefore, it is recommended that future strategies for Mandalay Resort Group include a mission statement. Furthermore, the group's strategy should be based on such a mission statement. Mandalay's mission statement should incorporate the features that customers want to see in Mandalay, it should reflect the customers' needs and desires. The mission statement should focus on customer satisfaction, future development of the group, and social responsibility. In such an industry like the gaming and entertainment industry that only focuses on superficial aspects in people's lives, it would be interesting to see a group like Mandalay take initiatives regarding social responsibility and involve in the problems experienced by the community in which the group activates.

Given the strong and increasing competition in the gaming and entertainment industry, Mandalay should apply a more aggressive strategy. The group should continue to expand the business. This will attract more clients, and it will expand Mandalay's number of target segments, which will eventually lead to increased incomes.

As mentioned above, Mandalay's strategy should focus on social responsibility also. By involving in the lives of its customers, Mandalay will be a more present figure in the customers' minds, which should lead to an increased degree of loyalty. Customer loyalty can also be reached by increasing customer satisfaction.

As a consequence, Mandalay's marketing department should seriously focus on discovering and analyzing customers' needs that have not yet been fulfilled. Implementing something new could help Mandalay gain serious competitive advantage over other gaming and entertainment industry players.