SST ICT PRESENTATION

MARKETSAround us

INTRODUCTION

• WHAT IS A MARKET???• Markets can be defined as a place

where buyers and sellers engage in the activity of sale and purchase of goods

• Markets are places having shops selling clothes , vegetables , stationery etc.

• There are different types of markets which we may visit for everyday needs, ranging from an hawker’s cart, vegetable seller, weekly market, retail market, or a large shopping complex.

markets

WHOLESALE

Specially for buying and

selling in bulk

RETAIL WEEKLY

SHOPPING COMPLEXE

S

Multi storied malls with branded products

Exist one day in a week Consumer buys directly

WEEKLY MARKETSADVANTAGES

Weekly markets are markets which are held on a specific day of the week.

The goods are available at very low rates and bargaining can be done here.

Most of the things that we need daily,such as clothes,utensils,groceriesetc.are easily available here

DISADVANTAGES

• Weekly markets are not permanent i.e.they are open till evening and are then closed.

• They do not have branded or quality materials.

• As they are open only for a day of the week the daily requirements are not met.

Some common weekly markets

Shops in the neighbourhood

These shops are near our house and we can go there on any day of the week.

They have a variety of goods that include our everyday needs

The buyer and the shopkeeper generally know each other, so this can provide goods on credit .ex,

SHOPPING COMPLEXES AND MALLS

Shopping complexes-a hub of shops within a defined area

Malls-air conditioned multi-storeyed buildings with shops on each floor

Have branded materials with superior quality.

They house a number of big company showrooms selling all kinds of goods

• The branded goods are very costly

• Fewer people can afford to buy branded goods

• Bargaining in these shops is not possible as they have fixed rates.

ADVANTAGES DISADVANTAGES

Shopping complexes have large interiors with several floors and sponsored by huge companiesThey have advanced technology for the comfort of the costumer,such as air conditioned floors, escalators, and billing is done on computers

Chain of markets

Goods are produced in factories

They are bought by wholesale traders in a bulk

The wholesale traders now sell the goods to other smaller traders

The goods are finally reached to the consumer when the retailers buy the goods from the traders and sell them in the form of weekly markets , neighborhood shops etc,

CHAINOF

MARKET

People in urban areas can enter markets without stepping out of their homes via the Internet. They use their credit cards to make ‘online purchases’.

Advanced technology markets

Net shopping through laptops Some common online purchasing sites

Inequality in markets –buying and selling

Buyers

• Different buyers have different incomes

• So they buy the product that fits in their budget

• It may be either a weekly market or a shopping complex, so there is inequality in the quality of product different buyers get.

Sellers

• Sellers earn profits unequally• One who sells goods in a

weekly market has much less profit than a seller in the shopping complex

• The seller in a weekly market cannot invest more money, so has less variety of products

• The seller in a mall can invest money for a huge variety of products

Case study - marketing• Marketing is a new way for success in a business.• It means, thinking about a business in terms of

consumer needs and satisfaction.• Marketing techniques include :-• Choosing target markets through market analysis • Understanding the consumer’s behavior and

advertising a product's value accordingly to the customer.

• Marketing blends art and applies science  and makes use of information technology.

• Learning your customers' needs and how you can add value through marketing activities paves the way for a successful business in the long term.

• .

Target

marketing

• A group of customers at which a company aims its products and services.

• As the company identifies its potential customers,it will be successful in delivering its services to the consumer.

• Ex.-the target market of a company selling dolls would be small children.