Friday, 9 September 2011

Types of Market

The word market originally meant the place where the exchange between seller and buyer took place.  But today Market mean origin where goods are sold and bought a particular type of buyer.
There are 4 main types of Market
1.      Consumer market
2.      Institutional market
3.      Business to business market
4.      Reseller market
Further each of market is divided by Size or geography such as local, regional, national and international.
Consumer Market:

            Consumer market consist of people how buy things for household use. As we buy things for our personal use. For example I am student and as I am consider as part of market and companies those sale jeans, T-shirts, pizza, sweets bicycles with multiple other products are really interested to sale their product to me.they want i really remember to buy their product. We see many advertising that target and upscale consumer between age 15 to 30.Advertising for this are mostly more attractive in which we find action, thrill, glamor and more fantasy seans. 

Business to business market:
B to B advertising
            Business to business market consist of companies that buy products or services to use their own business or in market there product. For examples I am dealing in raw material for electronic equipments. I want to expand my business with companies that made electronic equipments.   Advertising for this type of market is usually based heavily on fact and figures and light in emotions. 

Institutional market
            Institutional market is based on widely on profit and non-profit organizations. Such as hospitals, government agencies, schools and universities that provide goods and services for development of society.  Companies that are making furniture, cleaning supplies, computers, office supplies, groceries, audio visual martial, to name of few.  These types of advertising are more likely or similar to business to business ads in that they are heavy on copy and light in visual. 

institutional advertising
Reseller market:
            The reseller market are consist of wholesalers, retailers and distributions who buy full finished product or sami-fineshed product and resell them for profit. We can say third person parties. Resellers are found in almost every type of business.      

In these four types of market in which mostly businesses are spend more money on consumer market. Marketers are mostly advertise to consumer market through mass media such as radio, newspaper, television, General magazines and direct-response advertising media (direct mail and online). 


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