What is definition of market
Market in a buisness can be defined as a place where people comes to buy and sells goods and services. Market in business is a surrounding where customers and sellers gather at a place to perform buying and selling activities of goods and services. Buyer (customers) and sellers are the two parties which are involved inside marketing in business.
Marketing is a combine process of informing, communication, applied by institutions and sellers which includes economics activities like accounting, financial transactions and movement of goods from sellers to consumers.
Market in business are of two types. i.e . Physical market and online market. Physical market can be in form of retail outlets, shops, where buyers and sellers meet with each other face-to-face.
Whereas online market where buyers and sellers are remain unknown with eachother and no face to meeting with eachother. Online market also known as virtual market. Example of virtual or online marketing like email marketing.
What is the meaning of market in economics
Market research is an important type of marketing features applied in research work. Market in economics term can be defined as process of linking buying and selling of goods and services between buyers and sellers.
Meaning of market in economics a means by which buying and selling of goods and services takes place as results buyer and seller come in contact with eachother directly or indirectly.
Marketing research is an important process of gathering information of consumer, customers and sellers with making market segmentation.
Many companies are now a days continuously doing marketing research before launching there new product inside market and taking qualitative data as feedbacks from their products customers after launch of their goods and services.
Compitition level between companies also increasing and similarly consumer requirements and demands of higher quality products and services also changing inside market. To overcome these day to day challenges of buisness company hired marketing agents which do marketing segmentation for the hiring company.
Marketing agents of all different companies on behalf of their company perform marketing research regular basis when according to their company requirements. Marketing agent makes data collection inside market area and from surrounding area of market.
For example of marketing in research, any company can defeat his competitive companies working on same field of work by doing proper marketing research as comparison to other companies.
Importance of market definition
Market play an important role in buisness financial activities for their developments and country economic conditions totally dependent upon good features of marketing functioning according to nation requirements.
Market provide a place where customers and sellers to perform buying and selling marketing activities according to their requirements.
Generally market in business can be of physical market like showrooms, retailers shops and online market like flipkart, amazon and all ecommerce websites.
Physical and online mode marketing helps seller and buyer to come closer to eachother and distance doesnt such matters in online market in business.
Goods and services prices are determined by marketing features of market in particular buisness area. Demand and supply of goods and services inside market in business depends upon present market trends
Market definition in economics
In economics market definition explained by many economist that a place where buyers and sellers come together at one stage and performed economic transaction for doing buying and selling of goods and services.
Market can explained in other form. Market in business can be a particular place where people buy and sell securities. A predetermined place where trading activities done between buyers and sellers known as market in business.
All activities related to buying and selling of the goods and services called marketing in market.
According to consumer needs and demands market can be defined as a particular place where customers can get his desire goods and services.
For example of a market consumer A wants to buy smart mobile phone. Now consumer A will go to a market where shops mobile phone present. At place where many number of mobile shop retailers present known as mobile market.
What is a market in entrepreneurship
Market in entrepreneurship marketing can be defined as activities related to the place where buying and selling of goods and services perfomed between buyers and sellers for usually is known as market.
Market in entrepreneurship is a fixed place where entrepreneurship and consumer come in contact with eachother.
Marketing in market is a marketing features process of selling goods and services by sellers, shopkeepers and marketing agent to the customer inside market area.
Marketing in market is a process of influencing consumer towards his selling goods and sellers applied by sellers, shopkeepers and marketing agents.
Marketing in market perfectly defined it is a process of selling comb to not haired head man. Marketing in market it is an art of selling goods and services to maximum types of consumer inside market area.
How Market definition working in market
Market working included with lots features of marketing functions. Market working can be defined as stage or platform where buyers and sellers get to gather with eachother to perform financial transactions.
Market working features consists of higher number of active buyers and sellers. Market determined prices of any goods and services. Any goods and services demand and supply dependent upon market present situation.
Inside market area supply generated by sellers and demand creation dependent upon buyers.
Market always try to balance between demand and supply maintained by market working.
Market working totally involved financial transactions between buyers and sellers. Working of market totally involved economic activities.
Marketing meaning in economic activities involved inside market like buying, selling, and forward marketing etc.
Now days marketing working done on two stages like physically and online marketing.
Physical marketing working included economic transaction like shops, retailers. When customer goes to any physical shop retailers for buying goods and services.
Virtual market working involved economic activities perfomed online. When consumer buy and sell goods, services online.
For example of virtual market when any buyer and performed economic transaction online come under virtual market working.
Types of market classification
Market can be divided into various types of market on basis of various criteria. Market classification done on the basis of nature of transaction, time duration, location, products buy or sold, size of market and legality and many other factors.
Black market definition
Market which are set up and running ilegal economics transactions without showing their identity to the government and legal authority of the country.
Black market in economics is a place where goods and services are buying and selling between sellers and customers. All economic cash flow generated do not go in record of national income.
Black market from the name it is clear black means darkness where nobody can see in darkness.
Black market also function just simillar to normal market but only difference between legal market and illegal market is legal market working done in country government notice and government authority.
Whereas in black market economic transaction done during accounting period come under ilegal market because government of country and government authority doesn't know about cash flow generated that's why these types of market are called black market or ilegal market.
It is seen that every country have its hidden market running all world. Any one can access black market if he knowledge of locality but functioning of black always ilegal and if any body caught by government authority doing any type of black marketing of any goods then penalty imposed over that person.
Disadvantages of black market definition
Black market functioning in any country caused many harmful impact and disadvantages to any country economic development. Black market don't follow any rule regulations of government authority. In black market no transparency maintained between buyers and sellers.
No legal financial records are disclosed inside market. Many goods are sold in these market at cheaper cost without any type of tax payment. Government not able to collect taxes from goods sold inside black market.
No guarantee on product sold in black market given to customer inside black market. Government and government authority always in search of catching black marketing involved person and once government authority caught any one guilty then heavy penalty imposed over that person.
Government can't able to include earning from black market because all earning remain hidden from government authority notice. That's why government authority named these types of market as black market.