The set of sellers and buyers of certain goods or various types of products and services is commonly called the market. Previously, it was a specially designated place where trade was carried out. Today, from the point of view of marketing, the market refers to all possible buyers and sellers of certain goods. Different types of markets are distinguished depending on the type of product or the number of sellers and their influence on the market situation.
An object that has value is the basis for creating demand. The types of markets in this case are distinguished depending on the type of goods.
The sale of products directly for personal consumption is carried out on the consumer goods market . This is a system with a huge number of consumers, a lot of competition and an expanded structure.
The totality of goods that are used in industrial and production processes is called the market of industrial-technical products. These products are used to produce another type of product. In this case, adhere to the strategy of constant procurement. The buyer purchases the goods in the form of a package, avoiding the time spent on the purchase of individual components.
Some organizations resell goods and services. They make up the resale market. It can also be a rental for temporary use.
Government agencies involved in the acquisition of services, goods or their rental constitute a separate market.
The types of markets are divided depending on the prevalence of a certain category of participants on them.
In the sellers market, sellers of goods and services prevail and have a stronger position.
The market for buyers, on the contrary, is characterized by a predominance of potential consumers of goods and services.
Depending on the functions performed by the consumer, certain types of markets are distinguished.
Customers who are interested in a particular category of products form a potential market.
An accessible market consists of a category of consumers who are interested, have access, and have the means to purchase a particular product or service.
Consumers who have a certain interest, means and access to goods, and also meet certain requirements at the legislative level, make up a qualified market.
During the trading process, consumers acquire the same product that meets their requirements and requirements. This category makes up the developed market.
Depending on the number of sellers and their influence on the market environment, types of competitive markets are distinguished. Each seller, entering the market, is faced with competitors and enters the struggle for the financial resources of buyers.
The rivalry that is present on the market determines the seller’s strategy. Depending on competition, the main types of markets are distinguished.
The perfect competition market is an aggregate of a large number of sellers who have equal opportunities and cannot dictate their conditions and influence the situation.
The market of monopolistic competition is the rallying of several manufacturers that offer products of the same type, can slightly affect pricing, but do not impede the penetration of new entrants into the market.
The oligopoly market is characterized by the presence of large sellers, which have a significant impact on prices and the cost of goods and services.
The monopoly market is characterized by the smallest number of sellers who impose their prices on the consumer. This is the most uncomfortable market for the buyer, because he has no chance to buy goods at reduced prices due to the lack of other sellers.
These are the types of markets that are most commonly found in a modern economy.