Factor Market: Market where factors of production are traded for $$$ (Land, Labor, Capital, Entrepreneurship)
AMD
(:p lol)
AND
Product Market: Where final products from businesses or firms are sold by means of factors of production (i.e. target, best buy, etc.)
Wet wipes come in several diffrent flavours.
bob your maw
1) A product- orientated business is one whose main focus of activity is on the product itself. A market- orientated business is one which carries out market research to find out consumer wants before a product is developed and produced.
Product orientation during development is using what you have to make what you can with it. Market orientation is seeing what is lacking in the marketplace and uncovering an efficient, expedient way to fill the gap.
Marketing Potential is the total amount of product customers will purchase in a specified period and Sales potential is the maximum percentage of market share a firm can expect for a product. In other words market potential is the total market value of your product and sales potential is the percent of the market your product can take over
The difference between a factor market and a product market is that a factor market is a market where productive resources are bought and sold, while a product market is a market where products offer goods and services for sale.I copied this out of my econ book =)
The primary difference between product markets and factor markets is that factors of production like labor and capital are part of factor markets and product markets are markets for goods.
Wet wipes come in several diffrent flavours.
bob your maw
what is the difference between local market and national market
1) A product- orientated business is one whose main focus of activity is on the product itself. A market- orientated business is one which carries out market research to find out consumer wants before a product is developed and produced.
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Product orientation during development is using what you have to make what you can with it. Market orientation is seeing what is lacking in the marketplace and uncovering an efficient, expedient way to fill the gap.
Marketing Potential is the total amount of product customers will purchase in a specified period and Sales potential is the maximum percentage of market share a firm can expect for a product. In other words market potential is the total market value of your product and sales potential is the percent of the market your product can take over
The product which will introduce in small segment initially to know the pit palls of our product is called test marketing. To know the possibilities for introducing our product to particular geographical area is called market testing.
Consider a product that has both a consumer and business market. For example -- personal computers. Can a firm market its products to both the business and consumer markets with one strategy?
Consider a product that has both a consumer and business market. For example -- personal computers. Can a firm market its products to both the business and consumer markets with one strategy?