Tamilnadu Samacheer Kalvi 12th Commerce Notes Chapter 13 Concept of Market and Marketer Notes
→ The word market is derived from the Latin word ‘Marcatus ’ which means trade, commerce, merchandise, a place where business is transacted.
→ The meeting place of buyers and sellers in an area is called Market.
→ According to Pyle “Market includes both place and region in which buyers and sellers are in free competition with one another.”
(i) On the basis of Area:
(a) Family Market
(b) Local Market
(c) National Market
(d) International Market or World Market
(ii) On the Basis of Goods:
(a) Commodity Market:
(i) Produce Exchange Market
(ii) Manufactured Goods Market
(iii) Bullion Market
(b) Capital Market:
(i) Money Market
(ii) Foreign Exchange Market
(iii) The Stock Market
(iii) On the Basis of Economics:
(a) Perfect Market
(b) Imperfect Market
(iv) On the Basis of Transaction:
(a) Spot Market
(b) Future Market
(v) On the Basis of Regulation:
(a) Regulated Market
(b) Unregulated Market
(vi) On the Basis of Time:
(a) Very Short Period’Market
(b) Short Period Market
(c) Long Period Market
(vii) On the Basis of Volume of Business:
(a) Wholesale Market
(b) Retail Market
(viii) On the Basis of Importance:
(a) Primary Market
(b) Secondary Market
(c) Terminal Market
→ The marketer plays four roles: (i) Instigator (ii) Innovator (iii) Integrator (iv) Implementer