Difference between revisions of "Market"

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[[File:Intristic-vs-market.png|400px|thumb|right|[[Intrinsic value]] vs [[market price]]]][[Market]] is a medium in which [[buyer]]s and [[seller]]s of a specific [[marketable]] interact in order to facilitate an exchange:
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[[File:Intristic-vs-market.png|400px|thumb|right|[[Intrinsic value]] vs [[market price]]]][[Market]] is any space where [[marketer]]s and [[consumer]]s are able to engage in willful exchanges or transactions of their [[market exchangeable]]s. The ''marketers'' represent potential [[seller]]s; while ''consumers'' represent potential [[buyer]]s. "Willfulness" of exchanges assume [[buyer choice]], which is a situation where buyers have a choice of the sources that may satisfy their needs.
*For a [[buyer]], ''market'' is also an aggregate of all [[marketable]]s that this [[buyer]] would like to buy;
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*For a [[seller]], ''market'' is also an aggregate of all [[buyer]]s who are willing to buy a particular [[marketable]] that this [[seller]] sells.
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The market allows for interactions between the parties; agreed exchanges and transactions may occur on the same market or outside of it.
''Market'' can also be defined as some space, virtual or physical, in which [[seller]]s (a) search for [[buyer]]s and [[buyer]]s search for [[seller]]s, (b) negotiate prices, and (c) make deals. Market competitiveness refers to the ratio of [[buyer]]s and [[seller]]s of a particular [[marketable]].
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* ''Buyer's market'' is an aggregate of all [[market exchangeable]]s that this [[buyer]] can possibly buy;
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* ''Seller's market'' is an aggregate of all [[buyer]]s who are willing to buy a particular [[market exchangeable]] that this [[seller]] sells.
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''Market'' can also be defined as some space, virtual or physical, in which [[seller]]s (a) search for [[buyer]]s and [[buyer]]s search for [[seller]]s, (b) negotiate prices, and (c) make deals. Market competitiveness refers to the ratio of [[buyer]]s and [[seller]]s of a particular [[market exchangeable]].
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==Definitions==
 
==Definitions==
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:[[Market]]. An institution that brings together buyers and sellers of goods or services.
 
:[[Market]]. An institution that brings together buyers and sellers of goods or services.
 
According to [[Marketing Management by Keller and Kotler (15th edition)]],
 
According to [[Marketing Management by Keller and Kotler (15th edition)]],
:[[Market]]. various groups of customers.
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:[[Market]]. Various groups of customers.
 
 
  
 
==Related lectures==
 
==Related lectures==
*[[Market Engagements Quarter]].  
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*[[Market Intercourses Quarter]].  
  
 
[[Category:Marketing Management]][[Category: Septem Artes Administrativi]][[Category: Economics]][[Category: Articles]]
 
[[Category:Marketing Management]][[Category: Septem Artes Administrativi]][[Category: Economics]][[Category: Articles]]

Latest revision as of 03:36, 14 June 2023

Market is any space where marketers and consumers are able to engage in willful exchanges or transactions of their market exchangeables. The marketers represent potential sellers; while consumers represent potential buyers. "Willfulness" of exchanges assume buyer choice, which is a situation where buyers have a choice of the sources that may satisfy their needs.

The market allows for interactions between the parties; agreed exchanges and transactions may occur on the same market or outside of it.

Market can also be defined as some space, virtual or physical, in which sellers (a) search for buyers and buyers search for sellers, (b) negotiate prices, and (c) make deals. Market competitiveness refers to the ratio of buyers and sellers of a particular market exchangeable.


Definitions

According to Principles of Economics by Timothy Taylor (3rd edition),

Market. An institution that brings together buyers and sellers of goods or services.

According to Marketing Management by Keller and Kotler (15th edition),

Market. Various groups of customers.

Related lectures