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Running Head: SUMMARY OF LECTURE 1

NAME: MANSOOR KHAN

ID: BUS-18F-029

SECTION: BBA (5B)

SUBJECT: MARKETING MANAGEMENT

COURSE INSTRUCTOR: SIR FARIS MEHAR

ASSIGNMENT # 01: SUMMARY

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SUMMARY OF LECTURE 1

SUMMARY:

MARKET:

Market is the place where people meet for the purpose of selling their products to the people who
are interested to buy and for the sake of earning money with profit.

If we talk about the term market in marketing so it refers to those groups of consumers and
organization which interested to buy their products and it is done with the permission of law and
other regulations.

MARKETING:

Marketing is the art of making people interested in your product through an authentic market
research, analysis and knowing of their targeted consumers. And it is done with the help of
making advertising videos, billboards and online system. Nowadays this online system of
marketing has done too much for the branding of products and it is made the marketing easier for
the businesses.

MARKETING MANAGEMENT:

Marketing management is the art of selecting suitable market for the delivering of your products
and increasing your consumers and giving them facilities.

TYPES OF DEMANDS:

We have learned that demand is type of thing which every person wants to have, we learn that
many types of items are there in the market which everyone wants to buy and for that it is the
responsibility of the brands and firms to complete the need of their customers.

There are some types of demand which we understood are as follow:

1: NEGATIVE:

It refers to a product which is disliked by consumers and they try to ignore it.

2: NONEXISTENT:
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SUMMARY OF LECTURE 1

It relates to a product or service which is still unknown to people or they do not want to have that
product for their use.

3: LATENT:

It shows that the market is not able to provide all types of products which are needed by the
consumers to full fill their demand.

4: DECLINING:

It highlights the products which have less demand in the market and due to the advancement of
technologies.

5: IRREGULAR:

It surrounds to those things, services and places which are not demanded on the daily basis and
their demand is temporary to others.

6: FULL:

It is about those products which are mostly demanded by people and it does not take time to be
sold in the market.

7: OVERFULL:

It shows that demand for the product is high than the availability of product.

8: UNWHOLESOME:

It mentions those products which are not good and unhealthy but they are used intentionally by
the consumers.

SIMPLE MARKETING SYSTEM:

In this we learned that how it works that how they get each other on the same path and getting
benefits and providing profits to each other. We learn that industries provide their goods and
services to the market and in return market provide them money. Through the help of
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SUMMARY OF LECTURE 1

communication, they get to know the main information about their target customer through
information from market.

HOLISTIC MARKETING:

It refers to a strategy which thinks about whole of a business and each market channel as a chain.

RELATIONSHIP MARKETING:

It believe to build mutually satisfying long term business with main tools for the purpose of
earning money and keep their business alive.

INTEGRATED MARKETING:

This is a path for individuals to experience and plate with the brands.

CONCEPT OF FOUR P’s:

It is the main idea in the making of advertising which are item, value, advancement and spot
these are consider as advertising blend.