Difference between revisions of "Market"
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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 [[product]]. | ''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 [[product]]. | ||
| − | == | + | ==Definitions== |
According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[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)]], | |
| + | :[[Market]]. various groups of customers. | ||
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*[[Market Engagements Quarter]]. | *[[Market Engagements Quarter]]. | ||
| − | [[Category: Septem Artes Administrativi]][[Category: Economics]][[Category: Articles]] | + | [[Category:Marketing Management]][[Category: Septem Artes Administrativi]][[Category: Economics]][[Category: Articles]] |
Revision as of 09:14, 4 June 2020
Market is a medium in which buyers and sellers of a specific product interact in order to facilitate an exchange:
- For a buyer, market is also an aggregate of all products that this buyer would like to buy;
- For a seller, market is also an aggregate of all buyers who are willing to buy a particular product that this seller sells.
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 product.
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.
