AGRI ECONOMICS

Group Members

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Siva BharathArpan DoshiAtul TiwariNeethu Jose

Sneha KulkarniMuhirwa ValeryGurupkar mehta

What is a market?

• A physical place where buyers and sellers gather to exchange goods and services.

Market place

Market Place involves  the process of:

•Communicating the value of a product or service to customers, for the purpose of selling that product or service.

•Organizational function and a set of processes for creating, delivering and communicating value to customers.

•Customer relationship management also benefiting the organization.

Types of approaches

• SIVA approach: A formal approach to this customer-focused marketing is known as SIVA (Solution, Information, Value, Access).

• 4Ps approach: supply side model (product, price, placement, promotion) of marketing management

Promoting market

Product → Solution

Promotion → Information

Price → Value

Place (Distribution) → Access

How markets help

Plays an important role in society

Vital to business survival, profits and growth

Offers career opportunities

Affects your life every day

Types of markets

Markets

Geographical Markets

Local markets: Where customers are a short distance from suppliers

•easier to develop relationships with local customers, to engage in market research and to respond quickly to changes in the market.

National markets: A market where customers are spread throughout the country or over a large area

•several (or many) locations in the country in order to reach those customers.

Physical Markets

• Indoor market

• Market Place

• Public market

• Street market

• Floating markets

• Night markets

• Wet markets

Electronic Markets

• Businesses find their customers using a variety of electronic media, including the Internet, mobile telephony, digital television and via email.

• Transactions are completed electronically with the delivery method depending on the nature of the product sold.

Advantages of Electronic Market

• Easier way for start-ups to enter a national market

• highly price-competitive since it is quite easy for customers to search for products from a variety of suppliers and to compare the best prices available

• lower start-up costs