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A market may be considered as a meeting place where buyers and sellers gather together for exchange of goods. |
Classifications of Market
(a) On the basis of Area - On the basis of area market can be local, regional, National, International market.
(b) On the basis of Time - On the basis of time markets can be daily, weekly, Monthly, and annually. In other words they can be seasonal & Non-seasonal.
(c) On the basis of Transaction - Market can be spot and feature, where finalising deals & delivery make difference.
(d) On the basis of Regulation - On the basis of regulation market can be regulated and unregulated or organise or organised market.
(e) On the basis of volume of business - On the basis of volume of business there markets can be wholesale & Retail markets.
(f) On the basis of Nature of goods - These can be commodity markets firm product, manufacturing goods, both durable and nondurable market & capital market dealings with finance. Which many term can be classified as money, securities market.
(g) On the basis of nature of competition - On the basis of nature of competition the markets can be perfect and imperfect competition market.
(h) On the basis of demand & Supply - These markets can be buyers market and sellers market. In buyers market buyers are upper hand in the latter case sellers have upper hand.
Functions of Marketing 
A number of functions are inherent in every marketing process and these functions are to be performs on the basis of various utilities.
(A) Functions of exchange
The functions of exchange under have :
1. Buying functions
2. Assemble functions.
3. Selling functions.
1. Buying Functions- A Manufacturer in required by raw material for production. Similarly wholesaler has to buy goods for manufacturer for purpose of sells to Retailer. Retailer has to sell the goods to consumer.
2. Assemble Functions - Buying involves transfer of ownership of the goods for seller to the buyers, where as assembling goods are purchase from various sources are assembled at one place to suit the requirement of the buyer.
3. Selling Functions - Selling involves transfer of ownership from seller to the buyer. Selling functions is vital to success of any firms.
(B) Functions of Physical Distribution
These are the functions of physical distributions are as follows :
1. Transportation
2. Inventory Management
3. Warehousing
4. Material handling
1. Transportation - It includes decision in to be taken & more of transport, service selection, freight consolidation, career Routing, vehicle, scheduling etc.
2. Inventory Management - It includes short-term sells forecasting. Product mix at stocking points, number, size & location of stocking points. Just in time push or pull strategies.
3. Warehousing - It includes the following functions : space determination, stock layout & designing, stock replacement.
4. Material handling - It includes the following functions : Equipment selections, Equipment refreshment, order packaging procedure, stock & storage.
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