Markets
Market is a place where the consumer and buyer meet together to buy and sell goods.
Economist describe the market as collection of buyers and sellers who transact
over a particular product, there are five basics markets, manufacturer buy resources
and turn them into goods and services, consumer sell their labor and receive money which they pay for goods and services, government collect taxes from manufacturer, industrialist, intermediaries, use these market and services from
the betterment of the public services,each nations economy and complex economy
link through exchange process.
Marketer often cover the various group of customers
,there is relationship between industry and the market. There are various
customers market, consumer market, business market, global market and non
profit market.
Consumer market
In such type of market mega buying and selling of goods takes place, companies selling mass consumer goods and services such cosmetics,
soft drinks, travel and athletic shoes and equipment, most of the brand depends upon the superior products and packaging, delivering in a time to available the
product when required, to bring changes in the product the continuously communicating with the consumer and provide reliable services.
Business market
Business market is the place where professional,
well informed and well trained business activities are taken place under competitive environment, in such market the business people purchase goods or
resell the good at other at high price, business market demonstrate how the
product will help the buyers achieve higher revenue or lower costs.advertising
play an important role but the sales force,prices and reputation of the company plays a stronger one.
Global market
Global market bring additional challenges for the
product or company, there they face more competition with respect to the
national market, in global market the manufacturer face the global competition,
how to price the product, how to adopt the services and features of the
product, they make these decisions in the face of different requirement for buying,negotiating, owing, and disposing of the market.
Nonprofit and Governmental markets
Companies sell their product to nonprofitable
organization such as charitable organizations, governmental agencies, hospitals
etc.the buyers have limiting purchasing power.lower pricing can build affect
the feature and quality the seller can have in the offering,