What Is Marketing?The word ‘marketing’ conjures up images of dynamic advertising agencies and million-pound budgets, but the reality is that even the smallest pubs use some form of marketing.
So what is marketing? Well, marketing can be defined as: ‘The process of identifying, anticipating and satisfying customer requirements, profitably’ (
Chartered Institute of Marketing).
Marketing is a crucial part of running a business, and though most pubs use some form of marketing, not all of them do it well. Good marketing and focusing on customer satisfaction help businesses be more successful. Marketing is an ongoing process and not something you do once then forget about for a while. It is not just about spending money on advertising, it is about really understanding customer requirements and shaping your business to meet their needs.
What Is Marketing?
The word ‘marketing’ conjures up images of dynamic advertising agencies and million-pound budgets, but the reality is that even the smallest pubs use some form of marketing.
So what is marketing? Well, marketing can be defined as: ‘The process of identifying, anticipating and satisfying customer requirements, profitably’ (
Chartered Institute of Marketing).
Marketing is a crucial part of running a business, and though most pubs use some form of marketing, not all of them do it well. Good marketing and focusing on customer satisfaction help businesses be more successful. Marketing is an ongoing process and not something you do once then forget about for a while. It is not just about spending money on advertising, it is about really understanding customer requirements and shaping your business to meet their needs.
The Benefits Of Marketing
The ultimate aim of marketing is to make more profit. Marketing clarifies who your target customers are and helps you to understand their needs. It focuses your business on providing customers with what they want, and
satisfied customers stay longer, return more often and spend more money. Satisfied customers can help to promote your business by word of mouth to other potential customers too. Dissatisfied customers on the other hand, spend little, don’t come back, and will let lots of people know about their poor experience. Marketing focuses your business on ‘customer satisfaction’ and, when done well, can give you a big advantage over your competitors.
Identifying What Customers Want
Before you can decide how best to give customers what they want, you have to understand them. Some licensees fall into the trap of merely offering what they
think their customers want, without actually trying to understand their customers at all. Even worse, is where licensees totally ignore what their customers want. For example, deciding to stock a particular product because they themselves like to drink it, and not because it might be enjoyed by their customers!
The best pubs meet the needs of their customers by first knowing what their customers want. This comes from knowing and understanding the pub’s catchment area and the people who live and work within it, as well as the competitors who operate there. It also comes from keeping up to date with trends and changes in the industry.
Researching the pub’s catchment area through ‘desk research’ (for example gathering information using the internet) and regularly visiting the area prior to taking on your pub should provide you with a wealth of information. This information can be used to put together a ‘marketing plan’ of how you intend to promote your business to its customers. (See below for details on putting together a marketing plan.)
While you are running your pub, it is very important to keep up to date with what is going on in your area and update your marketing plan when necessary. This prevents you from being left behind and thus enabling your competitors to take advantage of the situation.