Brand management

Brand management defines positioning statement, target consumers/buyers, key brand benefits, brand personality, packaging design stance, appropriate graphics, product naming and other core competencies. The brand is the personality that identifies a product. Brand management manages the physical representation and consistent application of brand identity across visual identity carriers. This can include signage, uniforms, liveries, interior design and branded merchandise. Brand implementation encompasses facets of architecture, product design, industrial design, quantity surveying, engineering, procurement, project management and retail design. Careful brand management seeks to make the product or services relevant to the target audience. Brands are more than the difference between the actual cost of a product and its selling price - they represent the sum of all valuable qualities of a product to the consumer. There are many intangibles involved in business, intangibles left wholly from the income statement and balance sheet to determine a business's worth. The learned skill of a knowledge worker, the type of mental working, the type of stitch: all may be without an 'accounting cost' but for those who truly know the product, for it is these people the company should wish to find and keep, the difference is incomparable. Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase a product's perceived value to the customer, thereby increase brand franchise, and brand equity. A brand widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it achieves brand franchise. One goal in brand recognition is the identification of a brand without the name of the company present. Consumers may look on branding as an important value added aspect of products or services, as it often serves to denote a certain attractive quality or characteristics. From the perspective of brand owners, branded products or services also command higher prices. Where two products resemble each other, but one of the products has no associated branding, people may often select the more expensive branded product the quality of the brand or the reputation of the brand owner.

Casino Tokens

Casino tokens are small discs used in lieu of currency in casinos. Colored metal, injection molded plastic or compression molded clay tokens of various denominations are used primarily in table games, as opposed to metal token coins, used primarily in slot machines. Casino tokens are also widely used as play money in casual or tournament games.

Some casinos also use gaming plaques for high stakes table games $25,000 and above. Plaques differ from chips in that they are larger, usually rectangular in shape and contain serial numbers.

Money is exchanged for tokens in a casino at the casino cage, at the gaming tables, or at a cashier station. The tokens are interchangeable with money at the casino. They generally have no value outside of the casino, though in Las Vegas, some casinos might honor chips from other casinos and certain businesses such as taxis or waiters—especially for tips in gambling towns may honor them informally.

Tokens are employed for several reasons. Because of the uniform size, shape, and patterns of stacks of chips, they are easier to tally compared to currency. This attribute also enables the pit boss or security to quickly verify the amount being paid, reducing the chance that a dealer might incorrectly pay a customer. The uniform weight of the casino's official tokens allows them to weigh great stacks or heaps of chips rather than tally them. Though aids such as chip trays are far more common. Furthermore, it is observed that consumers gamble more freely with replacement currencies than with cash. Lastly, the chips are considered to be an integral part of the casino environment, and replacing them with some alternate currency would be unpopular.

Many casinos have eliminated the use of metal tokens and coins, in their slot machines, in favor of paper receipts or pre-paid cards, which, while requiring heavy infrastructure costs to install, eliminate the coin handling expenses, jamming problems encountered in machines which took coins or tokens and can allow more game-specific technology in the space of a machine which would usually be dedicated to coin mechanisms. Whiles some casinos such as the Hard Rock Hotel in Las Vegas which installed the receipt system had kept the $1 tokens around for use as $1 chips, most other casinos using the receipts had simply scrapped the tokens entirely. Most casinos using receipts have automated machines at which customers may redeem receipts, eliminating the need for coin counting windows and decreasing labor costs.

A standard 300 piece set of Plastic Injection chips often sold as clay composite chips

Casino chip collecting is a part of numismatics, more specifically as specialized exonumia collecting. This hobby has become increasingly popular with the Casino Chips & Gaming Tokens Collectors Club formed in 1988. Some chips are worth up to $100,000 and the most popular way to collect and trade is on eBay. Several casinos sell custom-made sets of chips and one or two decks of cards stamped with the name of the casino on them. Each set is contained in a small briefcase or box.

Gambling in Macau has been legal since the 1850s when the Portuguese government legalized the activity in the colony. Since then, Macau has become known worldwide as the Monte Carlo of the Orient.

Gambling tourism is Macau's biggest source of revenue, making up about 50% of the economy. Visitors are made up largely of Chinese nationals from the mainland and Hong Kong. With the entry of large foreign casinos from Las Vegas and Australia, Macau overtook the Las Vegas Strip in gaming revenues in 2007.

Until Western-style casino games were introduced in the 20th century, only Chinese games were played, the most popular being Fan-Tan. Generally, gambling in Macau can be divided into three different categories: casino games, horseracing and greyhound racing. There is also sports betting and a number of lotteries. At the present time, Macau does not license online gaming operations.

Macau has 33 casinos, of which the biggest is The Venetian Macau. They all operate under a government franchise and under a common set of rules.

Many forms of gambling are legal there, such as blackjack, baccarat, roulette, boule, Sic bo, Fan Tan, keno and slot machines.

Poker was introduced only in August 2007, in an electronic table format at Galaxy Starworld casino. The first live poker tournament was the Asia Pacific Poker Tour Macau event in November 2007. Shortly thereafter, in January 2008, the government of Macau published the official rules for Texas hold 'em poker games in Macau. In February 2008, Grand Lisboa Casino added the first live-dealer cash game tables in Macau. In May 2008, 'PokerStars Macau' opened at Grand Waldo Casino. In November 2008, Texas Holdem' Poker opened at Wynn Macau and the Learn to Play table is available. 'PokerStars Macau' moved to a new location at the Grand Lisboa Casino in March 2009. Today, Wynn Macau, Venetian, Hard Rock Casino , StarWorld and Grand Lisboa Casinos offer live-dealer cash game poker tables, and only Grand Lisboa Casino has live poker tournaments every weekend.

Gambling has been legal in Macau for a long time beginning in 1851 where there was a licensing system for gambling houses until 1863. Beginning in 1934, casinos' ownership and operation was centralized where through private negotiations, some franchises monopolized the operation right of all casinos. The casino industry has been controlled by the STDM monopoly for 39 years but, this changed in 2001 when casino licenses were offered to other casino operators, including American companies such as Las Vegas Sands Sheldon Adelson and Wynn Resorts Steve Wynn and then later on May 18, 2004, the Sands Macau casino opened near the Macau Ferry Terminal.

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Pathological Gambling

Pathological gambling is being unable to resist impulses to gamble, which can lead to severe personal or social consequences.
Causes

Pathological gambling usually begins in early adolescence in men, and between ages 20 and 40 in women.

Pathological gambling often involves repetitive behaviors. People with this problem have a hard time resisting or controlling the impulse to gamble. Although it shares features of obsessive compulsive disorder, pathological gambling is likely a different condition.

In people who develop pathological gambling, occasional gambling leads to a gambling habit. Stressful situations can worsen gambling problems.
Symptoms

People with pathological gambling often feel ashamed and try to avoid letting others know of their problem. The American Psychiatric Association defines pathological gambling as having five or more of the following symptoms:

Committing crimes to get money to gamble
Feeling restless or irritable when trying to cut back or quit gambling
Gambling to escape problems or feelings of sadness or anxiety
Gambling larger amounts of money to try to make back previous losses
Having had many unsuccessful attempts to cut back or quit gambling
Losing a job, relationship, or educational or career opportunity due to gambling
Lying about the amount of time or money spent gambling
Needing to borrow money due to gambling losses
Needing to gamble larger amounts of money in order to feel excitement
Spending a lot of time thinking about gambling, such as remembering past experiences or ways to get more money with which to gamble

A psychiatric evaluation and history can be used to diagnose pathological gambling. Screening tools such as the Gamblers Anonymous 20 Questions can help with the diagnosis.

Treatment

Treatment for people with pathological gambling begins with recognizing the problem. Pathological gambling is often associated with denial. People with the illness often refuse to accept that they have a problem or need treatment.

Most people with pathological gambling enter treatment under pressure from others, rather than voluntarily accepting the need for treatment.

Treatment options include:

    Cognitive behavioral therapy CBT has been found to be effective.
Self-help support groups, such as Gamblers Anonymous. Gamblers Anonymous is a 12-step program similar to Alcoholics Anonymous. Principles related to stopping the habit abstinence for other types of addiction, such as substance abuse and alcohol dependence, can also be helpful in the treatment of pathological gambling.
A few studies have been done on medications for the treatment of pathological gambling. Early results suggest that antidepressants and opioid antagonists naltrexone may help treat the symptoms of pathological gambling. However, it is not yet clear which people will respond to medications.

Like alcohol or drug addiction, pathological gambling is a chronic disorder that tends to get worse without treatment. Even with treatment, it's common to start gambling again relapse. However, people with pathological gambling can do very well with the right treatment.