Definition of market and marketing बाजार और विपणन की परिभाषा

Definition of market and marketing 

 The word market in the economic sense carries a broad meaning. Some of the definitions of market are given below:

1. A market is the sphere within which price determining forces operate. 

2. A market is the area within which the forces of demand and supply converge to establish a single price.

 3. The term market means not a particular market place in which things are bought and sold but the whole of any region in which buyers and sellers are in such a free intercourse with one another that the prices of the same goods tend to equality, easily and quickly. 

4. Market means a social institution which performs activities and provides facilities for exchanging commodities between buyers and sellers. 

5. Economically interpreted, the term market refers, not to a place but to a commodity or commodities and buyers and sellers who are in free intercourse with one another. 

6. The American Marketing Association has defined a market as the aggregate demand of the potential buyers for a product/service. 

7. Philip Kotler defined market as an area for potential exchanges