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Unformatted text preview: Video Analysis-1 Part 1 and Part 2 Darial Sneed Principles of Marketing MKTG 311-01 Tuesday/ Thursday, 11:10p.m.-12:30p.m. Dr. Ephraim Okoro Fall 2011 August 30, 2011 Howard University School of Business Washington, D.C. Reasonably Price World of Marketing This video focuses mainly on the terminology of marketing and its understanding and comprehension in the economy and world. To begin the start with defining the meaning of marketing. In the video that used a quote to help the listener better understand marketing by saying, The customer is always right. In a detailed sense marketing in the movie and text is defined as, The activity of creating, communicating, delivering, and exchanging offering that benefit the organization, its stakeholders and society at large. In the movie they described marketing as associating itself with a consumers wants and needs. To determine whether something is a want or need the video said there is a rule of thumb. The rule of thumb to determine if something is a consumers want or a consumers needs is , If the government taxes it, its probably a need, if the government does not tax it, its probably a want. Such as; bread, any types of food. When handling marketing you have to handle the market as well. The market in the video being defines as, All the people that do buy or could buy. To expand on the term of market as define in the text is, People with both the desire and the ability to buy a specific offering. For a consumer, to be a consumer there must be the three things. The three things are ; Ability, Authority, and Willingness . Ability is having the finances , Authority is being able to use the finances for the produces, and Willingness i s you willing to buy the product. For example in the video they used an adult video store. There was a young man who wanted to purchase a video from the adult video store. The ability was did he have the money. The authority was he of age to purchase the movie. Lastly, the willingness was he willing to purchase the movie. Now that the video has defined marketing and market they focused the attention on sales. The purpose of a business in a defined marketing and market they focused the attention on sales....
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This note was uploaded on 03/27/2012 for the course MKTG 01 taught by Professor Okoro during the Spring '12 term at Howard.
- Spring '12