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Types of Market


When we heard the word MARKET a lot of images came in our mind like buying, selling, commonplace, seller, buyer, etc.
So, we can define the market as “MARKET is a common or special place where buyer and seller come together to sell and buy the good and services”

Types of Market :

Types of The market is determined on the basis of various factors
1.   On basis of Geographic
·      Local Market: Markets which are situated in a local area.
They normally sell perishable goods and done trade within the locality. E.g. Fruit Market, Flower Market, etc.
·      Intrastate Market: This market takes place within the boundary of the state. Buyer and seller both are situated within the one state, they do not cross state boundaries. E.g. trade between Two City.
·      Interstate Market: This market takes place when a trade is done within two or more states. Buyer and seller both are from a different state, they cross the boundaries of a state. E.g. Trade between Two States.
·      Global Market: a Global market is a place where the trade is done within two or more countries. Buyer and seller are from different countries. They cross the boundaries of a country to make a trade. E.g. Trade between Two Country.


2.   On basis of Volume :
·      Wholesale Market: This is a type of a market in which a trade is done in a large amount or quantity. Wholesaler buys goods in large bulk quantity and store it in Wearhouse until the order from the Retailer.
This is done like
Company--------->Wholesaler ---------->Retailer
·      Retail Market: This is a type of market in which a trade is done in small quantity. A retailer buys goods from a wholesaler in a small lot which he sells to direct consumer. This is done like
Wholesaler--------->Retailer-------->Consumer

3.   On basis of Time :
·      Daily / Regular market: Market which take place every day is known as the daily market.
·      Weekly market: Market which takes a place once in a week is known as a weekly market.
·      Seasonal market: Market for certain seasonal goods like a market for raincoats only take place in the rainy season.

4.   On basis of Nature :
·      Market for any goods/services or category of goods/services. E.g. vegetable market, cloth market, share market, mango market, books market, etc.


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