Essay on Objectives and Goals for Prairie Meadows Casino

        Differentiating itself along with its products from competitors should be the very first goal for Prairie Meadows that it should thrive to obtain. When it comes to casino industry, creating a difference is very difficult since regulations and standardizations have to be considered as well. Every casino has the same equipment and games. It makes them almost the same to the eyes of customers. Prairie Meadows can invest in some creative games and it can introduce some new ways of gambling to be different. This way, it can be more attractive.

        Keeping the reputation and brand image safe in the market is another goal that Prairie Meadows needs to pursue. For many years, it has been gripping a good reputation with the area community of Des Moines. To public projects and education, millions of dollars have been actually contributed. This strong bond with the community is an integral asset for Prairie Meadows even if profit is lowered by it for a short period. Such a relationship will be solidified by outreaching the public more.

        The last goal that Prairie Meadows must pursue is all about targeting a younger market. Boomer generation generally forms most of the customer base of the casino. No doubt it has been a great source of income but it cannot last for a long time. In order to counter this issue, Prairie Meadows must invest in attracting younger people. For advertisement, a combination of physical and online ads must be implements with a strong attention on virtual or online ads. In the advertisement, young generation’s values must be focused upon like being responsible in a social way.

Objectives and Goals for Prairie Meadows Casino

Increase the share of revenue market from 13 percent to within 15%-17% by the ending of 2019.

        Ever since the century’s turn, Prairie Meadows has been continuously the leader of market in Iowa, it was averaging around 12 percent to 13 percent market’s share. Though, others have begun to catch up as well especially Ameristar and Horseshoe at almost 11 percent. For a consistent growth, total revenue of the casino must be increased which will play its role in raising the shares. Standing at the top makes Prairie Meadows certainly different from all the others and makes it attractive to the customers. Keeping this objective assists the casino in approaching the mission of increasing innovation in entertainment. Holding the same top position will assure that customers cherish the experience and keep on coming back to the same place again and again.

 Increasing 5% in net profit by the ending of 2018.

        Prairie Meadows’ net profits for the year 2017 were recorded at almost 56.9 million dollars. By the ending of these 12 months, the casino must increase profits to almost 60 million dollars. This one is actually in the same direction with the objective regarding the rise in share of market revenue. In order to increase market share by the ending of 2019, Prairie Meadows has to increase the revenues by the ending of 2018. Achieving the first objective will become easier with this one. Attracting more people is very important for increasing profits which has to be focused upon by the Prairie Meadows. In order to optimize the efficiency and cost as well, the casino must integrate advanced technologies in the operations or functions of business.

Increasing overall admission on yearly basis by 5 percent in 2018.

        For 2017, the yearly admissions were actually 3.1 million. To almost 3.25 million, increasing the number for the year 2018 will be helpful in due of other objectives. With more admissions, more profits and revenue is led. Since casino industry is considered, admissions are generally the roots. For growth and survival, holding a strong customer base is very important. Recognizing the casino’s location, this object should be attainable. In order to attain this objective, advertisement’s higher quantities will also help.

        All the objectives discussed are clearly and neatly interlinked with each other. If one objective is attained, it will affect the nature of other objectives as well. This is the interlinked nature among all objectives. By keeping a strong attention on all objectives and not letting them slip away can push Prairie Meadows towards not only values but also resources. It can focus on them easily then.