market (redirected from Market (economics))

Market

Usually refers to the equity market. "The market went down today" means that the value of the stock market dropped that day.

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Market. Traditionally, a securities market was a place -- such as the New York Stock Exchange (NYSE) -- where members met to buy and sell securities.

But in the age of electronic trading, the term market is used to describe the organized activity of buying and selling securities, even if those transactions do not occur at a specific location.

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market

A defined area from which one's customers may be drawn.The market size and boundaries will depend on the product offered (student housing, self-storage, estate lots for custom homes,professional offices for attorneys,etc.). A market can be defined in various ways.For example, it can be defined

1. By a radius from a certain point, such as the market within a 1-, 3-, or 5-mile radius of a development

2. By reference to natural boundaries consumers will not typically cross for goods and services, such as a highway, a particular city street, or even a bridge.

3. As an entire city

4. As all persons of a particular type within a city

An accurate description of one's market is essential to any development planning in order to assess the competition already existing in the market and the need for additional entrants.Market identification and description is also important for advertising and marketing services.(For example,there is no point in spending a large budget on citywide print advertising in newspapers and local magazines if your market lives and works within 3 miles of your location.)