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How Many Types Of Markets Are There?
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A market is a place where buyers and sellers interact. Basically there are four types of markets whose classification is based on the use of the products that these markets offer, the different types of which are listed and explained below:
Consumer markets
Business-to-business markets
Institutional markets
Reseller markets
Consumer markets are those markets where general consumers buy products and services for personal or household use. For example pens, jeans, jewellery, pizza etc. As for business-to-business markets, these markets sell products and services to businesses for running their operations. For instance, office supplies or furniture for office use etc. The third type that is the institutional market includes a wide array of profit and non-profit organizations – these institutional markets provide goods and services for the benefit of the society. Such as markets offering medicines for hospitals or computers for universities could be classified as institutional market. The last type of market is the reseller market that is also called an intermediary. These markets consist of the members of the channels of distribution such as wholesalers, retailers, dealers etc, which are mutually called resellers and operate the reselling markets.
answered 2 years ago
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The following are the five different market types:
•Commodity Markets – markets where raw materials or primary products are traded.
•Consumer Markets - markets where goods and services are purchased by individuals and for household use (rather than for use in business settings).
•Capital Good Markets - markets where finished durable goods products, such as machinery or buildings are traded.
•Industrial Markets – market segments involve manufacturers of all sizes that that provides for strategical decision-making with regards to sales and marketing.
•Service Markets -
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