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What do you mean by market ?

Posted by Tannu Razz 5 years ago

CBSE > Class 10 > Social Science

1 answers

Gaurav Seth 5 years ago

In the traditional sense, the term ‘market’ refers to the place where buyers and sellers gather to enter into transactions involving the exchange of goods and services. But in modern marketing sense, the term market has a broader meaning. It refers to a set of actual and potential buyers of a product or service. For example, when a fashion designer designs a new dress and offers it for exchange, all the people who are willing to buy and offer some value for it can be stated to be the market for that dress.

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CBSE > Class 10 > Social Science