Market types

Market types

1. Market depending on product

   • Taking into account the product that is bought and sold
     • Consumer Products Market
       • Consumer Products Market
         • It represents the market where products aimed at satisfying a consumer need are marketed, this implies that they are products that are used to cover a need, but after the need is resolved, the product disappears.
       • Use or investment products market
         • Products that are used to cover a need are exchanged, but after covering it, the good does not extinguish, but remains.
       • Industrial Products Market
         • Includes all products that are used as input or raw material to produce other goods or services. This may be the case with a product such as steel that can be used to produce airplanes or automobiles.
       • Services market
         • It covers the commercialization of products called services, in which the consumer cannot acquire ownership of the good, either because he only buys the provision of the service
       • Financial markets
         • son un espacio físico o virtual, a través del cual se intercambian activos financieros entre diferentes agente económicos cuyas transacciones definen los precios de dichos activos.

2. Market types dependin

   • Dealer market
     • se incluye en este mercado todas las empresas que compran productos no para consumirlos, sino para revenderlos a un precio mayor al que lo compraron y de esa forma obtener utilidades.
   • Industrial buyers market
     • The industrial buyers market is made up of all the companies that buy productive resources to carry out their production process. It can be a company that buys leather to produce shoes, bags, belts, among others.
   • Government Buyers Market
     • It encompasses all government institutions that purchase goods and services to provide public services such as health, or that will be used for public investment such as asphalt used in road infrastructure.
   • Consumer market
     • It represents all the buyers who seek to acquire the goods and services that are sold in the market to be used to satisfy a need, for this reason they are called consumers because they are the ones who use and consume the products.
   • Work market
     • It is where the supply and demand for work converge. The supply of work is made up of the set of workers who are willing to work and the demand for work by the set of companies or employers that hire workers

3. Market types depending on the competition

   • Based on the type of competition faced by producers or suppliers of the products, the markets
     • Mercado de competencia perfecta Perfect competition market
       • This type of market is characterized by the fact that there is an infinite number of competitors so none of them has the power to set prices within the market and practically all products are the same, for this reason perfect competition only exists in a theoretical but not practical way.
     • Imperfect competition market
       • It refers to different situations that we find in which some approach a perfect competition and others a total absence of competition. In other words, imperfect competition is any situation between perfect competition and pure monopoly.
     • Pure monopoly market
       • It is when strictly a single company offers the goods and services that are sold in a market, therefore, that company has total control over the price and quality conditions of said products.

4. Market types depending on the geographic area

   • Local market
     • It is the one that serves a small area of ​​the market such as a province or a city, a pharmacy that is located in a neighborhood or in a commercial center of a city could serve as an example of this type of market.
   • National market
     • It is characterized because it encompasses and covers an entire country, it extends through all the cities, departments, provinces or municipalities that make up a country. For example, we could mention a supermarket chain that serves the consumers of an entire nation.
   • Regional market
     • The area it serves is not limited to certain political limits; in this case we can speak of a market that covers the northern or southern region of a country.
   • International market
     • It is the one that is formed by a set of buyers that can be from different countries, these are generally markets served by multinational or transnational companies.
   • Global market
     • It refers to a market that extends to all countries in the world, therefore, goods and services are produced or only traded in any country in the world. It can be said that the global market is the largest and most extensive that exists.