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What is Market?

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Normally market means we think a place where buyer and seller meet together for purchasing or selling their necessary product and service. Such as new market, jute or paddy market etc.

In marketing sense, market is not a place. Market is a group or a team of present or future customer who have purchasing power, willingness and authority to buy and fulfill its necessities.

According to Philip Kotler and Gray Armstrong “Market is the set of actual and potential buyer of a product or service.” Who have the demand, ability to purchase and have ability to expense money for achieving a product or service.

In economic sense, Market is the competition between buyer and seller for exchange ownership of a product or service.

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