Industrial goods, on the other hand, are sold to organizations (e.g. companies, associations, public institutions). Services are immaterial, which means that you cannot really touch them, they do not exist in the real world but are simply activities that are performed in return for a service (money). In the case of services, a distinction is made between consumption and investment services. Consumptive services are marketed to individuals (e.g. private financial advice) and investment services to organizations (e.g. IT consultants). Markets by regional extent.
The decisive factor here is how widely spread the providers that the customer is considering are. A private customer will certainly look for a craftsman among providers in the immediate vicinity ( regional market ). A large industrial company, on the other hand (e.g. when building a large production plant), will certainly consider Israel phone number list suppliers who are spread around the world ( global market ). Markets by distribution of power In the buyer's market , there is a preponderance of the demand side. A buyer's market occurs when there is an excess supply (there are too many bananas) or a deficit in demand (no one wants to buy bananas). Here the providers are forced to act more customer-oriented (power lies with the buyers). In the seller's market , on the other hand, there is a preponderance of the supply side.
A seller's market occurs when there is excess demand (everyone wants to buy bananas) or deficit in supply (there are not enough bananas). Here the providers are strengthened and can demand high prices (power lies with the sellers). The market definition In order for a provider to be able to position itself optimally in the market, it must answer which market its marketing should refer to. the market demarcation , the market selected is called the relative market. Markets can be defined according to the following objects: Offerer Definition of the market via groups of providers, e.g. companies in a sector chemicals market, railway market, real estate market.