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.

The definition of market - Essay Example

Free
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

Check these samples - they also fit your topic

Definition
In essence, there is a love and hate relationship between the two people (Voo, 2007); one moment, they are getting along just as friends should, but the next moment the two friends find themselves against each other. A frenemy is often treated accordingly, with everyone being conscious of what that person is.
3 pages (750 words)Essay
Definition of Market Leader
Three distinctive categories of companies transpire as leaders, and area that extricates them from their competitors is the way they deal with their consumers. They alter and shapes their future requirements and plans on the rationale of the feedback of their customers.
2 pages (500 words)Essay
Interactive High Definition Television
Television, sadly, has still been in analogue for more than 50 years. The move to HD television is considered an evolution, not a revolution, since television is now slowly becoming digital after decades of stagnation and minimal growth. Current television is what is called analogue.
9 pages (2250 words)Essay
The definition of Innovation
Innovation iѕ the key to future buѕineѕѕ ѕucceѕѕ. In a highly competitive environment when emerging problemѕ need new and more efficient ѕolutionѕ and where new competitorѕ are alwayѕ in the competition, companieѕ that do not ѕee inveѕtment in innovation aѕ important are at riѕk.
7 pages (1750 words)Essay
Personal Definition of Innovation
ever, organizations’ policies designed to suit to evolving scenarios should include the application of a firm’s resources, specifically, determined and established strengths to explored growth strategies through innovation in products, prices, channels of distribution, or
5 pages (1250 words)Essay
EUROPE: REGIONAL SPECIALIZATION AND MARKETS----How significant was market integration for growth, and why did it occur Discuss with reference to at least two countries
Market integration is accepted as a principle in the financial market (McCleskey 2004, p97). Market integration is the core thing in any private and public activity. The markets are integrated by private economic elements that act in
7 pages (1750 words)Essay
Definition Essay
Have you ever considered taking pictures of ‘the red planet’ by employing powerful lenses mounted on satellite dishes located on the outer space? These are some of the flashy images that come
3 pages (750 words)Essay
Operations Management Definition
Human beings cannot live life alone without performing any activities. We need to eat, drink, study and live our lives. Time plays an important role in it. The activities cannot be stopped. In our everyday lives, we are bound to perform different activities and tasks throughout the day. 
8 pages (2000 words)Essay
Definition
When I became a father, I faced the reality of taking care of my children. My support has been from being a role model, provider and mentor. In order for my children to grow well, I have been focused on channeling my efforts
1 pages (250 words)Essay
Definition Essay
Furthermore, the freedom of the individual plays a significant role in their happiness. Human life is characterized by the pursuit of freedom. Children want to have freedom from school so that they can play
3 pages (750 words)Essay
entrepreneurial approach, which has benefited its reducing the scope of competition in sporting events industry.
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

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…
The definition of market
Read TextPreview
Comments (0)
Click to create a comment or rate a document
Let us find you another Essay on topic The definition of market for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us