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What is Market
Market is a term that refers to an area where there is a exchange of goods and/or finance (money). Market must represent at least three subjects, so that a competition could occur.

Market is a term that refers to an area where there is a exchange of goods and/or finance (money). Trade can take place between two subjects (people, organizations, businesses), but the market must represent at least three subjects, so that a competition could occur.

The term market is in practice usually used in combination with a competitive environment of several subjects and some commodity, goods or services. There are different types of markets in which each organization has to move, for example:

Use of market in practice: in practice, the term is commonly used to describe a commodity or also territorially limited part of the market, such as “company entered new markets in North America”. Also, the term market occurs in the general designation of the opinion, attitude or mood of customers or other stakeholders, such as “market rejects our new product”. There are also commonly used phrases, such as “situation on the labor market”, “view of the stock market”, “mood in the stock market has deteriorated” or “our market is very competitive”, which means that the business has a very tight space for the application of its products or services.

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Last update: 09.09.2015

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