Hilton Hotel Chain

The video of the Marketing process explores the different steps in the in marketing process as well as gives real life examples to the different marketing types. The movie defines market, marketing, and also gives the history of production and the history of marketing.

To understand the true meaning of marketing, you must first understand what a market is and also what the purpose of a business is. The term market is defined as the group of people with needs or wants, but also with the means to buy these things. This leads into what is meant by the term marketing. The video asks several regular people in what seemed to be a market place, what they thought the term “Marketing” meant, the common response was a mix between selling a good and advertising a product. The definition to the term marketing is exactly those two things combined. A company cannot be successful without doing both of those things. Marketing is defined in the video as being the planning and executing of the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges. Before all this can be possible the movie introduced the concept of the “4 P’s of Marketing” or Marketing Mix which were; Pricing, Product, Place and Promotion. The word product is finding out what is needed and wanted by the consumer, so that they will want to purchase it when it is produced. It also refers to how is it is produced; this is also addressed in the film, when it shows the time period when mass production was introduced. This concept was probably the most significant advance in production. Place refers to the location in which you plan to distribute your product. Then comes pricing which refers to researching the common price of the product in order to price competitively. The final part is promotion which is explained as the advertising part of the process as well