Where buyers and sellers
interact (directly or through
intermediaries) to trade goods,
services, contracts or
instruments in exchange for
money or barter
An actual or nominal
place where forces of
demand and supply
operate
Markets include
mechanisms or means
for:
Determining price of the
traded item
Communicating the price information
facilitating deals and
transactions, and
effecting distribution
The market for a particular item
is made up of existing and
potential customers who need it
and have the ability and
willingness to pay for it.
With the market,
depending on what type
of market it is you can
charge a premium price
You can get Niche and Mass
markets, although niche
markets are what allow you to
charge your own premium
prices for products as there is
less market share