BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A place, real or virtual, where buyers and sellers come together
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A place in the centre of town where you can buy vegetables
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A process by which companies create value for customers
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A way of satisfying customers in order to create value
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Detailed explanation-1: -A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical like a retail outlet, or virtual like an e-retailer. Other examples include illegal markets, auction markets, and financial markets.
Detailed explanation-2: -Definition: A market is defined as the sum total of all the buyers and sellers in the area or region under consideration. The area may be the earth, or countries, regions, states, or cities. The value, cost and price of items traded are as per forces of supply and demand in a market.
Detailed explanation-3: -Economic market structures can be grouped into four categories: perfect competition, monopolistic competition, oligopoly, and monopoly.
Detailed explanation-4: -Real market. The bid and offer prices at which a dealer could execute the desired quantity of shares.
Detailed explanation-5: -1. a person who buys; purchaser; customer. 2. a person employed to buy merchandise, materials, etc, as for a shop or factory.