What is meant by a "market"

[TOZZIBLINKZ]

By description and definition a market is considered to be a physical or nonphysical place in which buyers and sellers of both products and services to meet in order to accomplish their interest and desire. If we notice in the above definition put and get to see that the market may not necessarily be a physical environment filled with people, which are buyers and sellers of products and services. A market can strictly exist online, and that is why we have what is known as online marketing, which involves the buying and selling of goods and services via online platforms and even social media platforms. To some extent majority of people believe that online market is considered to be very much efficient than local or land-based market. Customer services is more reputated and efficiently practiced on online markets than offline markets. Furthermore, it is important that we all understand that there are some features that makes up an efficient market, be it an online market or offline market. Below are some features of a good an efficient market:

INFORMATION TRANSPARENCY: All relevant information is widely and quickly available to all market participants.

FAIR PRICES: Prices accurately reflect all available information and quickly adjust to new information.

COMPETITION: Many buyers and sellers participate in the market, preventing any single participant from controlling prices.

LOW TRANSACTION COSTS: The costs associated with buying and selling assets, such as commissions and bid-ask spreads, are low.

NO BARRIERS TO ENTRY: New participants can enter the market easily and compete with existing ones.

 

[Mikes smithen]

The market is basically considered to be a place in which buyers and sellers come together to purchase order to carry out marketing activities in order to get satisfied. It is very much important that market be very efficient and effective for both the interest of the buyers and also for the sellers. Indeed you have definitely given out some characteristics and features of an efficient and effective market but also it is important for us to understand that another important feature of an efficient and effective market is that it must always be available. With a market is restricted to only a set of individuals by age or by race, such kind of business market is considered to be ineffective and very much inefficient.

To identify an efficient and effective market it is therefore responsible at the markets itself sales and rental goods and services that are able to satisfy the needs and wants of those purchasing them .

 

[Axis]

I could remember but then when I always thought that a market is basically a physical place. But today it is absolutely finalised at a market does not necessarily have to be a physical place in which buyers and sellers meet in order to satisfy their desires as well as their needs and wants, but it can also be an invisible place where people can definitely meet to perform trading activities. Basically this invincible place is the online marketing platforms that are made in existence through the internet. To some extent it is definitely true and accurate to say that online marketing platforms are basically considered to be effectively used and monetized compared to offline and land-based market.

One of the reasons why I'm I said that this is true is because customer services are more effectively showcased as well as performed VIA online marketing platforms than offline or land-based markets. Marketing platforms usually have high traffic of individuals who are patronizing them that is why majority of business organisations that exist offline and to also exist online.