Topic: Markets around us
1. what is a market?
2. Classify and explain types of market.
3. Describe the pros and cons of online marketing.
4. Explain chain of market in detail.
Answers
Answer:
1. a regular gathering of people for the purchase and sale of provisions, livestock, and other commodities.
2.market is classified into product market where goods are transacted, and a factor market where inputs are bought and sold. A goods market exists for both durable and nondurable and perishable goods. A. According to the extent of area covered, a market is classified into local, national, and international.
3.Pros of Online Marketing. Wider reach to the customers. The online business is not confined to the limitations of physical place. Immediate quantifiable results. Less business overheads. Ability to track customer's preferences. Customer Relationship. Customers' Convenience.
4.chain of markets is formed starting from wholesale markets to retail shop owners who sell directly to the consumers. In between wholesale markets and retailers there are medium and big traders. For example, a hawker or retailer purchases plastic items from a wholesale-trader in the town.