market

¹mar·ket

noun, often attributive \ˈmär-kət\

Definition of MARKET

1

a (1) : a meeting together of people for the purpose of trade by private purchase and sale and usually not by auction (2) : the people assembled at such a meeting

b (1) : a public place where a market is held; especially : a place where provisions are sold at wholesale <a farmers' market> (2) : a retail establishment usually of a specified kind <a fish market>

2

archaic : the act or an instance of buying and selling

3

: the rate or price offered for a commodity or security

4

a (1) : a geographic area of demand for commodities or services (2) : a specified category of potential buyers <the youth market>

b : the course of commercial activity by which the exchange of commodities is effected : extent of demand <the market is dull>

c (1) : an opportunity for selling <a good market for used cars> (2) : the available supply of or potential demand for specified goods or services <the labor market>

d : the area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices <producing goods for market rather than for consumption>

— in the market

: in the position of being a potential buyer <in the market for a house>

— on the market

: available for purchase; also : up for sale <put their house on the market>

Examples of MARKET

1. I stopped at the market on the way home for some juice.
2. They are trying to develop foreign markets for American cotton.
3. The company sells mainly to the Southern market.
4. New markets are opening up all over the world.
5. Advertisers are trying to appeal to the youth market.
6. targeting a more mature market
7. a reference work for the educational market

Origin of MARKET

Middle English, probably from Continental GMC; akin to Old Saxon markat marketplace, Old High German marcāt, both ultimately from Latin mercatus trade, marketplace, from mercari to trade, from merc-, merx merchandise

First Known Use: 12th century

Related to MARKET

Synonyms

call, demand, request

Related Words

bear market, bull market; buyer's market, seller's market

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

²market

verb

Definition of MARKET

transitive verb

1

: to expose for sale in a market

2

: sell

intransitive verb

: to deal in a market

Examples of MARKET

1. The company has spent millions marketing the latest version of its software.
2. These products are being aggressively marketed to teenagers through television ads.
3. He markets his wares at craft shows.

First Known Use of MARKET

15th century

Related to MARKET

Synonyms

deal (in), merchandise (also merchandize), put up, retail, sell, vend

Antonyms

buy, purchase

Related Words

presell, wholesale; remarket, resell; hawk, peddle; barter, distribute, exchange, export, handle, trade, traffic (in); advertise, ballyhoo, boost, plug, promote, tout; bargain, chaffer, dicker, haggle, horse-trade, palter; auction; provide, supply; carry, keep, stock

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

market

noun    (Concise Encyclopedia)

Means by which buyers and sellers are brought into contact with each other and goods and services are exchanged. The term originally referred to a place where products were bought and sold; today a market is any arena, however abstract or far-reaching, in which buyers and sellers make transactions. The commodity exchanges in London and New York, for example, are international markets in which dealers communicate by telephone and computer links as well as through direct contact. Markets trade not only in tangible commodities such as grain and livestock but also in financial instruments such as securities and currencies. Classical economists developed the theory of perfect competition, in which they imagined free markets as places where large numbers of buyers and sellers communicated easily with each other and traded in commodities that were readily transferable; prices in such markets were determined only by supply and demand. Since the 1930s, economists have focused more often on the theory of imperfect competition, in which supply and demand are not the only factors that influence the operations of the market. In imperfect competition the number of sellers or buyers is limited, rival products are differentiated (by design, quality, brand name, etc.), and various obstacles hinder new producers' entry into the market.