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The Market: A place where
Buyers and sellers come together…read more

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Markets can be classified in many different
ways: -
· Geographical classification ­ local market, national
market
· Physical and NON-Physical markets
· In accordance to the customer ­ i.e. Market
segmentation
· Level of competition in the market…read more

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Geographical classification
· Local market- is the most common form of market for
consumer goods. Local markets include the traditional type
of market, where fresh produce can be sold on a market
stall, e.g. A car boot sale is a more recent example
· National markets ­ can be defined in 2 ways:
- a company would see itself as operating in a national
market if it sold its products or service across all or most
of the country
- and many industrial and primary products such as building
materials are traded on a national or international scale…read more

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Physical & Non ­Physical markets
· Physical Markets: - in a physical market there
is an actual place where buyers and sellers
meet. This can be a market place, a shop, a
garage or a business's own premises
· NON - Physical Market: - markets which make use
of modern technology, e.g. Telephone sales, in
recent years there has also been a rapid increase
in the use of the internet as a market place…read more

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Demand: - The amount of a product or
service that customers are willing and
able to buy at any given price over a
period of time…read more

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Comments

davidsalter

This is a useful powerpoint presentation covering all aspects of demand, segmentation and types of market. Useful for edexcel unit 1.

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