Bar and Tavern
Introduction:
“The Marketing Concept is the philosophy that the pub, bar and tavern industry uses to analyse the needs of their customers and then create decisions to satisfy those needs”. Building brand loyalty is the key to the success of the marketing concept. The components of the marketing mix- product, promotion, place and price will provide a starting point to create requirements in developing appropriate marketing strategies for the industry (Jaray 2006, p.1) Market segmentation has specific expectations and bar, pub and tavern operators develop products and services that will cater the needs and wants of the target market. This report provides an overview of the industry and analysis of the micro and macro environmental factors that directly influence the industry’s overall marketing performance. This report provides a clear description on how the marketing mix elements are used by major companies in their marketing strategies and make recommendations to improve the industry’s current marketing performance. A summary of findings is presented at the end of this report.
Industry Overview: Pubs, taverns and bars are establishments that primarily sell alcoholic and non-alcoholic beverages for either for immediate consumption in the premises or off the premises for later consumption (O’Brien et al 2011, p.210-213). They also offer meals, gaming facilities, wagering activities, retail liquor outlets and may also have table service like a restaurant style at work in their premises. . “About 84.6% of total revenue garnered by industry operators is derived from the sale of liquor for on-premises consumption (32.4%); the sale of liquor for off-premises consumption from associated retail liquor or bottle shops (27.9%); and gaming and wagering activities, from gaming machines or TAB facilities (24.3%). The remainder is derived from meal services (10.3%), accommodation (1.5%) and other areas (3.6%)” (Connell 2012, p.4).
The industry’s restrained
“The Marketing Concept is the philosophy that the pub, bar and tavern industry uses to analyse the needs of their customers and then create decisions to satisfy those needs”. Building brand loyalty is the key to the success of the marketing concept. The components of the marketing mix- product, promotion, place and price will provide a starting point to create requirements in developing appropriate marketing strategies for the industry (Jaray 2006, p.1) Market segmentation has specific expectations and bar, pub and tavern operators develop products and services that will cater the needs and wants of the target market. This report provides an overview of the industry and analysis of the micro and macro environmental factors that directly influence the industry’s overall marketing performance. This report provides a clear description on how the marketing mix elements are used by major companies in their marketing strategies and make recommendations to improve the industry’s current marketing performance. A summary of findings is presented at the end of this report.
Industry Overview: Pubs, taverns and bars are establishments that primarily sell alcoholic and non-alcoholic beverages for either for immediate consumption in the premises or off the premises for later consumption (O’Brien et al 2011, p.210-213). They also offer meals, gaming facilities, wagering activities, retail liquor outlets and may also have table service like a restaurant style at work in their premises. . “About 84.6% of total revenue garnered by industry operators is derived from the sale of liquor for on-premises consumption (32.4%); the sale of liquor for off-premises consumption from associated retail liquor or bottle shops (27.9%); and gaming and wagering activities, from gaming machines or TAB facilities (24.3%). The remainder is derived from meal services (10.3%), accommodation (1.5%) and other areas (3.6%)” (Connell 2012, p.4).
The industry’s restrained