Markets

The concepts of exchange and relationships lead to the concept of a market. A market is a place where buyers and sellers meet and where the transfer of ownership occurs. It is composed of people with:

• Needs to satisfy.
• The ability to spend.
• The willingness to spend money.

Core marketing activities include:

• Consumer research.
• Product development.
• Communication.
• Distribution.
• Pricing.
• Services.

These activities also align with the marketing mix.