StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

The definition of market - Essay Example

Comments (0) Cite this document
Summary
In simple words, market is a place where buyers and sellers interact to trade a good or service through an exchange process. Indeed, market is a broad term which should be defined because it provides a framework that would help identifying the extent of competition…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.5% of users find it useful
The definition of market
Read TextPreview

Extract of sample "The definition of market"

In simple words, market is a place where buyers and sellers interact to trade a good or service through an exchange process. Indeed, market is a broad term which should be defined because it provides a framework that would help identifying the extent of competition. Nevertheless, market definition is important because it enables the researchers / decision – makers in estimating the probability of certain risk factors followed by evaluation of competition restraints for a business entity in the market. It is justified to argue that the better we define the market, the easier it becomes in calculating risks involved and scope of competitive forces. As far as the success of National football League (NFL) is concerned, it should be mentioned that “Tailgating, Sacks and Salary Caps” is the book written by Mark Yost in which he explained how businesses could innovate their operations and adopt new strategies for growth and expansion. Nevertheless, NFL also defined its market to analyse existing competition after which it made entrepreneurial innovations such as personal seat licenses and stadium naming rights that helped the sporting association in maximizing its financial revenues. Consequently, the NFL emerged as a market leader (due to its phenomenal growth) in comparison to other sporting organizations such as Major League Baseball and Green Bay Packers. In short, NFL today exists in a marketplace where it has been in a dominant position due to innovation centered entrepreneurial approach, which has benefited its reducing the scope of competition in sporting events industry. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The definition of market Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1410159-the-definition-of-market
(The Definition of Market Essay Example | Topics and Well Written Essays - 250 Words)
https://studentshare.org/macro-microeconomics/1410159-the-definition-of-market.
“The Definition of Market Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/macro-microeconomics/1410159-the-definition-of-market.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The definition of market

Clothing Retail Market in General

The industry is оverwhelmed with cоmpetitiоn frоm cоmpаnies which hаve invested in hi-tech mаchinery leаding tо greаter efficiency оr hаve plаced their prоductiоn tо fаctоries in cheаp lаbоur cоst cоuntries tо prоduce their prоducts. Hоwever, mоst pаrt оf the cоmpаnies in this sectоr mаke nоt very high prоfits. Tо increаse the mаrket shаre in this аrenа is nоt аn eаsy tаsk, аnd therefоre it needs а greаt deаl оf endeаvоur, knоwledge, аs well аs energy аnd mоney.
Clоthes retаilers fаll intо twо brоаd cаtegоries: firstly, thоse selling оwn-brаnd clоthing аnd, secоndly, thоse selling third-pаrty weаr. Mаjоr retаilers such аs Mаrks & Spencer аnd the Аrcаdiа Grоup аre gооd exаmples оf the first grоup, аs аre chаin оperаtiоns s...
18 Pages(4500 words)Research Proposal

Definition And Detection Of Proteinuria

The dipstick test (or the dip-and-read analysis) is the use of a specially treated strip to semi-quantitatively determine the amount of protein (mainly albumin) in a urine sample. In the absence of protein, the dipstick panel is yellow. Proteins in solution interfere with the dye indicator-buffer combination, causing the panel to turn green. Tetrabromophenol is the dye indicator that is commonly used. The buffer serves to maintain a pH of 3.0. The change in colour is independent on the pH of urine. The results are graded as negative (less than 10 mg per dL), trace (10 to 20 mg per dL), 1+ (30 mg per dL), 2+ (100 mg per dL), 3+ (300 mg per dL) or 4+ (1,000 mg per dL). This method preferentially detects albumin and is less sensitive...
6 Pages(1500 words)Case Study

Market Analysis and Segmentation: JetBlue Airways

It is for this reason that JetBlue management painstakingly handles the services and amenities that the company offers. They present very competitive technology as far as providing comfort to their passengers is concerned. Destination-wise, JetBlue Airways may be considered a specialty carrier that is relegated to a short-haul concentration, taking advantage of similar economies available with advanced technology and updated equipment. A short-haul carrier, JetBlue operates efficiently by consolidating services and economies of scale. Consequently, as a short-haul carrier, JetBlue’s revenues are considerably high compared to other airline companies.

In 2003, JetBlue declared a profit of $ 17.6 M for its first quar...
6 Pages(1500 words)Case Study

Starbucks in Chinese Market

In the year 1996, the coffee giant marked its global presence. Up until 2004, the Chinese government prohibited Starbucks to operate its own stores in China. As a result, the coffee giant enters the Chinese market by joint-venturing with Chinese food and beverage companies and licensing other companies to own and operate its stores--differs from its domestic approach. But the company was able to easily overcome its initial obstacles and marked its presence in China very quickly and successfully with great brand recognition and customer satisfaction. The company also tailors its stores to match the local atmosphere. This is a transnational strategy. “For example, the Starbucks strategy in Shanghai is to attract middle to high...
7 Pages(1750 words)Case Study

The Challenges of Foreign Market

Any multinational company is exposed to risks such as change of foreign currency exchange rate, commodity prices, and interest rates because it denominates its transactions in foreign currencies. That’s why there is also some uncertainty in future earnings, liabilities and assets values.
Therefore, before taking a decision on the country of entry, a profound analysis of its current political and economical situation is to be performed. According to Kotler and Armstrong (351-361), a decision on whether to enter a foreign market should be based on a profound analysis of potential risks and opportunities, as well as the company’s internal resources.
The company is a Limited Liability that exports roasted and gro...
11 Pages(2750 words)Case Study

Oil Prices by OPEC and Market Fundamentals

Market failure is defined as the inefficient allocation of resources by the market, the free market is considered to optimally prices and resources in the production of goods and services, and this is because the price and quantity produced are determined by market forces which include the demand and the supply. The control of prices by a firm or an organization in the market results in market failure, therefore OPEC leads to market failure due to its nature in the market.

OPEC was formed in 1960 by 5 oil-producing countries which include Venezuela, Saudi Arabia, Kuwait, Iran and Iraq, The aim of this organization was to unify petroleum-producing countries in order to realize fair and stable prices of oil .other oil-pro...
6 Pages(1500 words)Report

Segmentation, Target Market, and Positioning of the Fortified Wine

There are some types of fortified wines which carry a rich legacy and ethos of the Australian culture and society. This rich history and distinct flavour can be utilised to penetrate growing markets like China and build a strong brand presence there when the market is relatively immature. Moreover, tweaking of marketing, distribution and pricing strategies would offer greater sales potential for the fortified wine industry itself in Australia.

Among the variety of wines that are available, the Australian wine industry offers an attractive bevvy of the following variants of red wine, white wine, vintage wine, sparkling wine, dessert wine and fortified wines.

The fortified wines are also termed as “liquid...
10 Pages(2500 words)Business Plan

The Effects of Financial Crisis on Supplier Selection Criteria of the Oil and Gas Industry Equipment Market

It is a difficult task to find those vendors who not only have the adequate quality and quantity of the needed raw materials but who also have an attitude of efficiency and display commitment to customer service (Sonmat, 2006). Further, organizations also strive to locate and select vendors who can be depended upon for long term relationship.

The number of factors or attributes desired from the vendor is vast, and different organizations and different industries place different importance on the attributes (Sonmat, 2006). Some of the vendor attributes may gain importance owing to the nature of the industry, for example, in the case of consumer perishables suppliers, like fresh vegetables or fruits, the buying firm would...
20 Pages(5000 words)Literature review

Macro and Microeconomics Factors in the UK Housing Market

The housing industry is divided into residential, commercial and industrial segments. Economists define supply in terms of service units, that is, a physical unit can be deconstructed into the services that it helps provide. These housing unit services are considered as an unobservable theoretical construct. Housing stock depreciates making it qualitatively different from a brand new constructed building.
The owner, user/owner and renter comprise the demand side of the housing market while the renovators and developers comprise the supply side of the market. In order to implement the simple demand and supply analysis to the housing markets, several modifications have to be made to the standard microeconomic procedures and ass...
8 Pages(2000 words)Research Paper

Entry into Foreign Market

However, political instability and turmoil are yet a few of the hindrances which could affect the stock markets and in a worst-case scenario may as well, completely shut down businesses (Root 1982). The new business practices, on the other hand, involve a transparent setup and a free market, free of turmoil to operate and maximize production (Bennett 1998). Also, in such a case, the consumer must also be able to spend on the product, to make it a success. However, Burma currently has strong institutions having a hold on the resources which need to be exploited, i.e. a few of the military generals and autocrats have access to the resources, and thus, dealing with these groups might prove to be a waste of the corporation`s own effor...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The definition of market for FREE!

Contact Us