Marketing Management 3(2+1)

Lesson 04 : Types of Markets

Classification on the basis of area

• Local market: When the buyer and sellers of a particular locality purchase & sell different goods, it is a local market. Generally perishable goods like flowers, vegetables, fish etc are sold here.

• Regional Markets: The buyers and sellers of different villages, cities and districts assemble to buy and sell the different commodities in these markets.
• National markets: When the buyer and seller of whole country participate in it, it is called as national market. The whole area of the country is considered here. Products like Wheat, Sugar and Medicines etc. are sold in these markets.
• International Markets: The buyer and sellers from the whole world meet in international markets. Commodities can be bought and sold at different places in the world. Gold, silver, electronic goods are sold and bought in the international market.