Market Types, Business Location Factors, and the Business Plan
Classified in Economy
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Market Types
Companies market their products on the market.
Market: Consists of a set of buyers and sellers of a product. There are different types of markets. Each of these conditions in a particular way the work of the Commercial Department.
Main Forms of Market
- Features Buyers:
- Consumer Market: Products purchased by individual buyers or families. Distinguish between immediate consumption, when consumed frequently; lasting, if consumed in different periods of time; and services, if they are immaterial.
- Industrial Market: Products purchased by companies for incorporation into the production process or for sale. Examples: Wood for furniture factories.
- Number and Types of Competitors:
- Monopoly: There is only one company operating in the market. Example: