What Is A Market Essay - 1142 Words

What is a Market? Again, this seems like another absurd question. However, this is another thing that will impact your business idea. The â€Å"market† in its most general sense is either â€Å"mature† or â€Å"not mature.† A market is considered to be mature when it has reached a state of equilibrium, which just means there is an absence of growth or a lack of innovation. Equilibrium can also be achieved, or can be considered a byproduct of maturity, when supply matches demand. Clearly, this state can prevail for days, weeks or years. Economics is useful, but traditional marketing theory defines the market in a far more succinct and useful way. The â€Å"adoption curve† is a universal way to look at products. This simple curve can be used in two ways. Where are your consumers on the curve, and what stage is your product in? Below is a graphical representation of the common adoption curve. ï ¿ ¼ The adoption curve is a great start for any kind of business analysis, but realistically it is always important to know exactly who you want to sell to. This is often called the â€Å"target market.† Many successful businesses â€Å"niche down† by finding and catering to the product outliers. Although smaller in percentage, a niche customer can often be more lucrative than any other kind. This modern niche type of thinking is essentially target marketing. The target market is often confused with demographics and psychographics. These two marketing buzzwords can be confused quite easily, so before IShow MoreRelatedWhat Is Market Failure?1575 Words   |  7 PagesWhat is market failure? (3 Marks) â€Å"Market failure occurs when resources are not allocated efficiently - in other words total economic surplus is not being maximised† (Reference 1). Market failure is when the market is not working at equilibrium which is also known as total surplus or market efficiency. Market failure can happen when the Government impose a tax, price ceiling, price floor or a quota, this then causes price the rise of fall, which means total surplus will not be reached. TheRead MoreWhat is Market Segmentation?1501 Words   |  7 Pagesexplanation of what segmentation is and how it works in companies. I will also include some examples to help explain and analyse why segmentation is very important to all businesses including my chosen company. During this assignment I will also explain the relevance of segmentation to my chosen company and how they use it as part of an overall marketing strategy. Description of segmentation: The purpose of market segmentation is to divide a large market into smallerRead MoreWhat Is The Stock Market?879 Words   |  4 Pages What is the Stock Market? Sebastian Morfin University of Florida Overview The stock market is a market in which shares of publicly held companies are issued and traded either through exchanges or over-the-counter markets. Also known as the equity market, the stock market is one of the most vital components of a free-market economy, as it provides companies with access to capital in exchange for giving investors a slice of ownership in the company. The stock market makes it possible toRead MoreWhat Is Market Research?846 Words   |  4 PagesWhat is market research? According to authors Mullins and Walker, market research is the design, collection, analysis, and reporting of research intended to gather data pertinent to a particular marketing challenge or situation (2013, p. 167). The market research process is broken down into six different steps: defining the research objective and identifying the managerial problem, determing data sources and research approaches, determining the research design, collecting data, analyzing the dataRead MoreWhat Is Liquidity Of The Stock Market757 Words   |  4 PagesDomestic stock market – Size and liquidity The Financial Markets in the UAE are rather unique in nature, they are fairly young with an extraordinary growth potential in the long-run. A wide, diverse selection of securities is listed that can be traded in the Financial Market. These securities include â€Å"equities, securities, bonds, futures, mutual funds, commodities, currencies, metals, stones, derivatives, and Sukuk (Islamic bonds)† (Financial Markets - Official Portal of UAE, n.d). The two most importantRead MoreWhat Is The Challenges Of The Stock Market1036 Words   |  5 PagesWhen it comes to the stock market a lot of research must be taken place in order to fully understand what you are buying into. Before starting the course I was very nervous to what I was buying into. I did some research and I will be focusing on three solar companies. I will be focusing on First Solar Inc., SunPower Corp., and Vivint Solar Inc. Before doing research and buying into anything I thought to myself what is relevant and what would be interesting to watch rise or fall. Since I haveRead MoreWhat Model Of Market Structure1455 Words   |  6 Pagesdeveloped and incumbent by the market structure it abide by. The wisdom of crowds is based on the assumption that valuable knowledge in social systems frequently exists only as dispersed opinions, and that aggregating dispersed information in the right way can produce accurate predictions. A prediction market provides a vivid illustration of the power of the wisdom of crowds. (Qiu, L., Rui, H., Whinston, A. B., 2014) This outline will break down the various market structures and will clarify allRead MoreWhat Makes A Perfect Market?1420 Words   |  6 Pagesthinking about a perfect market a couple words should come to mind: availability and price. For the market to be going well for the supplier, the customer will need to be satisfied. To turn things around, the customer has to depend on the supplier. This is where availability comes in to play. The supplier’s job is to make sure the customer is able to access their products as easy as possible. Even though some companies to this day do not use e-commerce, in a perfect market e-commerce has to be usedRead MoreWhat Is The Size Of Your Market?1417 Words   |  6 PagesIndustry Facts †¢ What is the size of your market? o There are hundreds of thousands of churches here in America, all of which could benefit from paid social media advertising and expert advice. Although midsize-to-mega church sized churches are more likely able to afford such services. †¢ What is the current demand in the target market? o With amount of churches in America and the church’s overall dive in numbers, there is certainly a high demand for effective church social marketing services. ChurchesRead MoreWhat causes black market?8950 Words   |  36 Pagescom/locate/econbase Efficient black markets? Carl Davidson a,b , Lawrence Martin a , John Douglas Wilson a,⠁Ž a Department of Economics, Marshall-Adams Hall, Michigan State University, East Lansing, MI 48824, United States b GEP, University of Nottingham, United Kingdom Received 17 May 2005; received in revised form 9 October 2006; accepted 23 October 2006 Available online 3 February 2007 Abstract This paper investigates analytically the welfare effects of black-market activities that firms undertake