Scribd
Upload
18 views1 page

Introduction

The document discusses different types of markets including local, national, regional, and international markets. It also explains market structures and how understanding the market structure is important for organizations to make decisions about pricing strategies and other business strategies to maximize profits.

Uploaded by

Emmanuel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
18 views1 page

Introduction

The document discusses different types of markets including local, national, regional, and international markets. It also explains market structures and how understanding the market structure is important for organizations to make decisions about pricing strategies and other business strategies to maximize profits.

Uploaded by

Emmanuel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

INTRODUCTION

A market refers to an institution or arrangement in which buyers and sellers, or customers

and producers, interact with each other indirectly or directly to sell/produce and buy products.

Markets may be grouped according to their sizes and the number of players. A market may either

be local, national, regional, or international. The market structure explains the characteristics of a

market in terms of the number of producers or sellers, the nature of the products, and the level of

competition. Different market structures exist in the many industries that are there in the business

world. It is important to identify and understand the market structure for an organization or

business since the market structure influences the way an organization carries out business and

the pricing strategy. By understanding the market structure, an organization is able to make the

right decisions on the pricing strategy and other strategies such as marketing and business

strategies. A pricing strategy that is effective is key to the maximization of profits for a business

organization.

You might also like