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Running Head: SUMMARY OF LECTURE 2

NAME: MANSOOR KHAN

ID: BUS-18F-029

SECTION: BBA (5B)

SUBJECT: MARKETING MANAGEMENT

COURSE INSTRUCTOR: SIR FARIS MEHAR

ASSIGNMENT # 02: SUMMARY

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SUMMARY OF LECTURE 02

SUMMARY:
We have learned three different topics from this chapter and the first main topic is scanning of
marketing environment which effects by the external organizational activities and number two
forecasting demand is the procedure where organizations find their way to get the complete
information about the demand for their products through surveys and the third one is MIS which
is marketing intelligence system it has three components.

This chapter covers the main thing of marketing that is MIS, we all know that information is the
key part of making any decision. And we can easily identify marketplaces, product advancement,
and well researched and well. executive marketing operation by which it leads to success. There
are three main components in MIS which are the market record system, marketing research
system, and marketing intelligence system, these all components lead us to get the various source
of getting information.

Marketing records get information through movements of companies like a sales information
system, order-to-payment cycle, databases, warehousing, and data mining. Marketing research is
the component that gives the consumers perspectives and opinions about the products, and the
marketing intelligence system is the combination of various communicating tools.

The other part is evaluating the macro environment, companies do this for the making of their
offerings. We know that each company has a different environment. Companies have to evaluate
six major environmental forces which are demographic, economic, social-cultural, natural,
political-legal, and technological. These forces are focused by the companies to forecast the
demand and make their offerings and they make it in such a way that the value of it remains
maintained.

The next part of the chapter covers the process of marketing research it is the way where they
find the information about their offerings by using questionnaires, qualitative measures and
mechanical devices. We all know that research is also the important part to commence and
advancing any offerings. For these they use above the instruments to make the research valued
and authentic.
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SUMMARY OF LECTURE 02

From this part of the chapter, we have learned different research types that companies use in
marketing. There are three main types of researches which are exploratory research, descriptive
research, and casual research. And the other main thing which focuses on in this part is related to
behavioral data which is also a type of getting information.

In this chapter we have also learned about focus group and also different contact methods, these
things can be used by the companies to assure that they reached a response.