Samacheer Kalvi 12th Commerce Notes Chapter 13 Concept of Market and Marketer
→ The word market is derived from the Latin word “Marcatus” which means trade, commerce, merchandise, a place where business is transacted. The common usage of market means a place where goods are bought or sold.
→ According to Pyle “Market includes both place and region in which buyers and sellers are in free competition with one another”.
→ On the basis of different approaches markets have been classified on the basis of Area, Nature of Goods and economic view, transaction, regulation, time, volume and importance.
→ One who deals in a market, specially one who promotes or sells a product or service. A marketer is someone whose job involves marketing.
→ Marketing is a comprehensive concept which starts from the point of creation, promotion and ultimately delivering the goods and services to consumers and business.
→ The marketer plays four roles as follows – Instigator, Innovator, Integrator and Implementor.
→ The functions of marketer are gathering and analyzing market information, market planning, product designing and development grading, transportation, storage and warehousing etc.
Co-operative market presents the collaboration between two or more partners or companies to achieve common or distinct goals. The business which is related to most from the strategy due to sharing of marketing expenses and man power etc.
A farmers market is a physical retail market place intended to sell goods directly by farmers to consumers. Farmers market may be indoors or outdoors and consists of booths, table or stands where farmers sells fruits, vegetable, meats etc.
Mention any two Types of Markets on the basis of Goods
- Wheat exchange market of Hapur
- Cotton exchange market of Bombay
- Goat market Aathur in Tamil Nadu.
Mention any two Markets on the basis of Time
- Markets for perishable goods like fruits, milk, vegetables etc.
- Market for durable goods like automobiles, household goods, electronics, home appliances and medical equipments.