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.