Market

A place where buyers and sellers meet to determine the price of products or service. The market works by matching those who buys and those who sells. The market facilitate the exchange of information, goods, services and payments associated with market transactions. Potential buyers are those with needs or wants and the purchasing power to satisfy them.


Market


The Market is such an important aspect to an entrepreneur since it shows the real competition in regard to the services and products dealt, the set prices, advertisements and investment. 


The major characteristics of a market are as followed;
1.The place where the exchange of materials happens,
2.Those who sell and buy products,
3.The economy status.


Types of Market


RESELLER MARKET.

The Market involving intermediaries(the men in between) buying products and perhaps modifying them before selling(resell) them for an increased profit. If you don't buy a product directly from the producer(a company, industry etc.), then you are buying it from a retailer/reseller. 

And for the producers, their count/profit is the same selling both to the reseller or the consumer. Hence producers deals with resellers effectively, for their profit is just there waiting for them without moving the cargo to the Market.


STOCK EXCHANGE MARKET.

The Market involves securities(shares, bonds, notes, etc..) being sold and bought at a price governed by demand and supply(the exchange rate). The Market raise the capital through savings of the investors into productive ventures

These are primarily Markets for Corporations, Government and other Incorporated bodies. They are the Secondary Markets where Investors can sell their securities to other Investors for Cash, hence reducing the Risk of Investment and to maintain Liquidity in the system (Dynamity).


INSTITUTIONAL MARKET.

The market with no profit or market share as their primary goal/motive, they are not typical businesses. Included in are Non-Profit institutions such as Hospitals, Schools, Churches, Government Agencies and NGOs. These market strategies are different as they operate under different restrictions and have different goals. 

It is known though not proved 100% that the profit gained is normally put back to the institution. But for most politically driven countries, these markets resembles other business market, hence difficult to distinguish. 

Example, Education and Health Services having paramount charging fees is like conducting business in such Institutions. 

And the profit obtained is not necessarily put back to the Institutions, and can rather be used for personal uses(out of Institutional boundaries and interest.)


CONSUMER MARKET.

This is the typical market, where individuals(and/or households) consume and buy goods and services for their own uses. The product are consumed/used and buyers have no need/interest of reselling them again. It is what We do in shops and Mini/Super markets; you buy, use and if any left You dispose. It is called the Consumer Market as it is all about those who get the products/services in the very end of the chain.


INDUSTRIAL MARKET.

These consists of Organization and People who work and buy products and services. These markets functions different from Consumer market in the way they purchase materials from other Organization and Companies. Here Industries trade between between them in terms of raw materials or semi-finished products for the production of their products or services.
Example; Smartphones, their hardwares are produced with one company while their are produced Software by other companies too.