Media Economics-

Needs and wants

  1. media owners
  2. media audiences
  3. advertisers, and
  4. media employees

Media owners want: i) preservation of the firm and its assets
ii) high rate of return on their investment
iii) Company growth
iv) increase in value of the firm , and thus their investment

Media audiences want; i) high quality media products and services at low cost
ii) wish to acquire the product wit ease

Advertisers want: i) access to their targeted audiences at low price
ii) high quality service from media employees

Media organization employees want:
i) good compensation
ii) fair and equal treatment
iii) safe and pleasant working conditions
iv) psychic rewards for their labour

Allocation