Submitted by: Submitted by bosslady2013
Views: 167
Words: 346
Pages: 2
Category: Business and Industry
Date Submitted: 11/04/2013 09:25 AM
Video Analysis - 1
Video Analysis – 1
What is Marketing
Based to the video, Marketing is defined as a process by which products are made available that satisfy customers while making profit for the companies that manufactures or distributes the product.
The video also showed marketing as and activity, Marketing activities are numerous and varied because they basically include everything needed to get a product off the drawing board and into the hands of the customer. The broad field of marketing includes activities such as:
• Product Orientation Approach- A business approach by which whatever a company makes of supplies is the focus of management’s attention.
• Selling Orientation Approach – Defined as what manufactures believe that their product is fine.
• Marketing Orientation Approach – Companies market realize they cannot sell to everyone and they must find their niche.
Marketing Segmentation
The video highlights market segmentation as a process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.
Targeting
According to the video targeting is a broad term that is used to describe the process of identifying groups of consumers who are highly likely to purchase a specific good or service.
Positioning
According to the video positioning is the act of designing the company’s product or services and image to occupy a distinctive place in the target market’s mind. This would allow the target market to think of that company items first.
Products and Services
Marketing a product involves more than marketing a service of the product. The customer can touch carpet, but not the act of cleaning it--and that's an important difference. Nearly all products are a...