MARKET: Where BUYERS and SELLERS come together to TRANSACT with each other.
LOCAL market: Where customer is a short distance away from the supplier.
- Fresh, local farm supply. Sources there and then.
Advantages of this: Easier to develop relationships with consumer.
Better placed to understand local cultural issues and traditions.
Physically closer.
NATIONAL: Same product/service offered to customers across the country..Many locations..more profit.
PHYSICAL MARKET: Market stalls, auction houses, door to door selling.
ELECTRONIC: Cheap..Transactions online between buyer and seller. (+) Easier to access international markets, track social trends etc..
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