Expert: Peter Gabany - 11/22/2005

Question
hi peter would you be able to tell me what types of markets are important in marketing research or just give a breif idea of the sorts of markets there is.... thanks

Answer
Billy,

There are every market type. I'm unclear as to your question but if you can think of something, anything to sell that people wish to buy there is a market for it and consequently a market type.

Each item can cross markets - take razors for example: Men's market, women's market, medical market, pet market. Or salt - table salt, pickling salt, road salt, water softener salt, Kosher salt, sea salt, medical salt and more.

For each product and each product use there is a specific market and quite possibly a cross-over to other markets.

In the food industry, while there may be a consumer market for Heinz baked beans, there is a food trade market (in larger size) for the food trade. For each of these markets, there are marketing channels. These channels are derived from study and a decision of where best to channel or sell products. For example - Timex tried selling their watches through jewelery outlets and while this might be the obvioous place to look for a watch, Timex's low cost time pieces moved far greater volume through mass market merchandisers like department stores.

This is the tip of the description but I believe you can see where this is going. If you require additional assistance, please don't hesitate to write again.

Pete