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In business, a market is a place or platform where buyers and sellers meet to trade goods, services, or information1. The parties involved are usually buyers and sellers2. The market may be physical, like a retail outlet, where people meet face-to-face, or virtual, like an online market, where there is no physical presence or contact between buyers and sellers2.
Markets establish the prices of goods and services, determined by supply and demand2. Features of a market include the availability of an arena, buyers and sellers, and a commodity2.
A business market is a method a company uses to sell products or services to a specific group of consumers3. Typically, business markets facilitate sales from one business to another in cases where one business plans to reuse or resell another company's products or services3. There are business markets designed around making sales directly to consumers as well3.
Here are a few types of business markets:
I hope this helps! Let me know if you have any other questions. 😊
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.www.indeed.com/career-advice/career-developme…plannit.ai/glossary/marketwww.investopedia.com/terms/m/market.asp- People also ask
Market: What It Means in Economics, Types, and Common Features
A market is a place where parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical, like a retail outlet, where people meet face-to-face, or virtual, like an online market, where there is no physical presence or contact … See more
A market is any place where two or more parties can meet to engage in an economic transaction—even those that don't involve legal tender. A market transaction may … See more
Markets vary widely for several reasons, including the kinds of products sold, location, duration, and size. The constituency of the customer base, size, legality, and other factors are equally influential. Aside … See more
Markets are an important part of the economy. They allow a space where governments, businesses, and individuals can buy and sell their … See more
Other than underground markets, most markets are subject to rules and regulations set by governing body that determines the market’s nature. This may be the case when … See more
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