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Market Choice

In: Marketing and Economics

Author

Listed:
  • Merlin Stone

Abstract

Markets (which we define in this chapter as groups of buyers) can be classified for marketing decision purposes in various ways: geographically (national, regional, urban/rural), by income level, occupationally, by social class, by competitive basis (for example intensity of competition in market), behaviourally (for example people with certain leisure activities or buying habits), and so on. In industrial markets, classification may be on an industry basis (goods produced or technologies used), size of purchasing budget basis, ownership basis (public, communal or private), form of purchasing basis (tender, order, etc.), geographical basis, and so on. Markets may also be classified according to sensitivity to key variables (to price, free offers, etc.).

Suggested Citation

  • Merlin Stone, 1980. "Market Choice," Palgrave Macmillan Books, in: Marketing and Economics, chapter 9, pages 109-117, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-16426-4_9
    DOI: 10.1007/978-1-349-16426-4_9
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