Wednesday, August 13, 2014
Another Atlantic City casino is closing its doors and massive hotel/gaming complexes are gathering dust. Atlantic City, NJ, was supposed to be Las Vegas East. At least that is what the governor and developers hoped for. So, they piled in and built and built until there was more capacity than needed, given the rise of American Indian casinos and racetrack slots. Failures like this should be a lesson to managers and communications practitioners. Entering a marketplace after it has developed is often a bad idea. Others have captured the brand positioning and a new entrant can't say much more than, "me too." In gaming, there isn't much room for innovation. This is true for many industries. To bull one's way into a developed segment with something better, faster and less expensive is hard. Usually a product or service has a few bells and whistles to make it look different when it isn't. Consumers are rarely fooled, however, even with advertising, PR and social media shouting, "Look at me!"