Markets, Marketing Management


The concepts of relationships and exchange lead to the concept of a market. A market is the set of real and potential purchaser of a product.

1). originally a "market" was a place where purchaser and sellers collect to exchange goods (such as a village square).

2). Economists utilized the term to designate a collection of purchaser and sellers who transact in a specific product class (as in the grain or housing market).

3). Marketers see purchaser as constituting a market and sellers constituting an industry.

4). Marketers are strongly interested in markets.

Posted Date: 11/8/2012 12:55:53 AM | Location : United States

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