Market Meaning: Definition, Examples, and Translations
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market
[ˈmɑːrkɪt ]
Definitions
in economics
A market is a place where buyers and sellers come together to exchange goods or services. It can also refer to the demand for a particular product or service, or the group of people interested in buying a particular product.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| market |
Typically refers to a place or system where goods and services are bought and sold. It can be physical or online.
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| exchange |
Often used when referring to a financial institution or platform where securities, commodities, derivatives, or other financial instruments are traded. It can also mean the act of trading items or services.
|
| bazaar |
Usually refers to a Middle Eastern or South Asian market venue with various stalls selling different goods. It often has a traditional or cultural connotation.
|
| mart |
Short for 'market', it is often used in names of commercial establishments selling various items, typically on a large scale.
|
Examples of usage
- The stock market is experiencing a downturn.
- The housing market is booming right now.
in marketing
In marketing, a market refers to a specific group of consumers that a company targets with its products or services. It can also refer to the overall demand for a product or service in a particular area.
Synonyms
clientele, consumer group, target audience.
Examples of usage
- Our company is targeting the teenage market with this new product.
- There is a growing market for organic food in this city.
in finance
To market something means to promote or advertise it in order to increase sales or awareness. It involves creating strategies to reach a specific audience and persuade them to buy a product or service.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| market |
Used when discussing strategies to attract customers to a product or service. It involves a broad approach that includes research, advertising, and sales techniques.
|
| promote |
Used when talking about actions taken to actively support or encourage the sales or popularity of a product, service, or event. It often includes but is not limited to marketing and advertising.
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| advertise |
Specifically used when talking about the action of making something known to the public through various media channels such as TV, radio, internet, or print.
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| sell |
Used when directly referring to the exchange of goods or services for money. It emphasizes the final transaction with a buyer.
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Examples of usage
- The company is marketing its new line of products through social media campaigns.
- She is responsible for marketing the company's services to potential clients.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Historical Origins
- The first known marketplaces appeared in ancient Mesopotamia, facilitating trade between different cultures.
- Markets were essential in ancient Rome, where they were often located in a basilica or forum, becoming community hubs.
- In medieval Europe, weekly markets became social gathering spots for villagers to exchange goods and catch up.
Economics
- Markets can be classified into various types, such as perfect competition, monopoly, and oligopoly, based on how many sellers and buyers exist.
- Supply and demand drive prices in a market; when demand is high and supply is low, prices go up.
- The stock market is a specialized marketplace for buying and selling shares of companies and is considered a key indicator of economic health.
Pop Culture
- Famed movies like 'Pretty Woman' portray shopping as a significant social activity centered around markets.
- Television shows often feature market scenes to depict community life, such as 'The Office,' showcasing the importance of small local businesses.
- Food markets have gained popularity in urban culture, influencing trends in cooking shows and documentaries focused on local food movements.
Psychology
- Shopping behavior can be influenced by how products are displayed in a market, impacting what consumers feel they need.
- The ambiance of a market can evoke certain emotions, with music and smells playing significant roles in enhancing the shopping experience.
- Peer influence is strong in marketplaces, often shaping individuals' buying choices based on what others purchase.
Origin of 'market'
Main points about word origin
- The word comes from the Latin 'mercatus,' meaning 'trade' or 'marketplace'.
- In Middle English, it was 'market' and referred to a trading place in towns during the medieval period.
- The concept of a marketplace has evolved from open-air markets to today’s online platforms.
The word 'market' has its origins in Latin 'mercatus', which means 'trade, market, merchandise'. The concept of markets has been essential throughout human history, serving as central locations for trade and exchange of goods. Markets have evolved from traditional physical spaces to online platforms, reflecting changes in technology and consumer behavior.
See also: hypermarket, marketability, marketable, marketer, marketing, marketplace, megamarket, supermarket, telemarketing.