2.2: Types of market

• Consumer markets. When we talk about consumer markets, we are including those individuals and households who buy and consume goods and services for their own personal use.
• Industrial markets.
• Institutional markets.
• Reseller markets.

What is the three types of market?

Types of Market Structures

• 1] Perfect Competiton. In a perfect competition market structure, there are a large number of buyers and sellers.
• 2] Monopolistic Competition. This is a more realistic scenario that actually occurs in the real world.
• 3] Oligopoly.
• 4] Monopoly.

  What are some of the key customer markets?

  KEY CUSTOMER MARKETS. business, global, and nonprofit. engaging communications and reliable service. professional buyers skilled at evaluating competitive offerings. or resell a product to others at a profit.

  What do marketers use to describe customer groups?

  Marketers view sellers as the industry and use the term market to describe customer groups. They talk about need markets (the diet-seeking market), product markets (the shoe market), demographic markets (the “millennium” youth market), geographic markets (the Chinese market), or voter markets, labor markets, and donor markets.

  Which is an example of a consumer market?

  Consumer Markets Companies selling mass consumer goods and services such as juices, cosmetics, athletic shoes, and air travel establish a strong brand image by developing a superior product or service, ensuring its availability, and backing it with engaging communications and reliable performance.

  Which is the fifth type of customer market?

  Finally, the fifth type of customer market is the International Market, “which consists of these buyers in other countries, including consumers, producers, resellers, and governments.” (Part 2, p.66) Each of the five market types discussed above have special characteristics and the seller has to carefully study them before making an offer.