The term market appears to have its origin from the Latin word 'Marcatus', which means a place where business is conducted, buyers and sellers come together to facilitate exchange and by means of which the prices of goods tend to be equalized easily and quickly. "Market is a group of sellers and buyers who are willing to exchange goods and/or [...]
In this article we will discuss about:- 1. Meaning of Market 2. Importance of Market 3. Classification 4. Characteristics 5. Relation between Business Firms and Market. Contents: Meaning of Market Importance of Market Classification of Markets Characteristics of a Good Market Relation between Business Firms and Market 1. Meaning of Market: The popular meaning of the term 'market' refers to [...]
In this article we will discuss about the substitutability of market in relation to market segments. Marketing comprises the following three major activities: 1. The assessment and examination of market for existing products or those under, consideration for development. The collection of accurate market intelligence is essential for effective business forecasting and production planning. It also influences design and packaging, [...]