CHAPTER
8. MARKETS AROUND US
Why
we go to market
To buy products
What
are the kinds of markets
•
Shops
•
Hawker stalls
•
Weekly market
WEEKLY
MARKET
•
No permanent shops
•
Held once in a week
•
Setup at different places in India
•
Many such markets exist.
•
Means for daily requirements
•
Available at cheaper rate
•
Sell product made at home – less costly
•
Permanent buildings have lot of expenditure
as rent, electricity, fees to the govt. and wages to their workers
•
Good competition exists
•
Bargain and reduce price
•
Many things available at one place
•
Major advantage- from grocery to clothes to
utensils
SHOPS
IN NEIGHBORHOOD
•
SHOPS EXIST IN NEIGHBORHOOD
•
MILK
•
GROCERY
•
STATIONARY
•
EATABLES
•
SOME ARE PERMANENT SHOPS
•
OTHERS ARE ROADSIDE STALLS – VENDORS HAWKER
•
ARE NEAR TO HOME
•
CAN GO THERE ANY DAY
•
BUYER AND THERE ANY DAY
•
BUYER AND SELLER KNOW EACH OTHER
•
SHOPS DO PROVIDE GOODS ON CREDIT
SHOPPING
COMPLEXES
•
Have many shops
•
Mall: large multi – storeyed
air-conditioned buildings with shops on different floors
•
Both branded and non-branded goods
•
Branded goods are expensive, promoted by
advertisements and quality
•
Special showrooms
•
Smaller number of people can buy branded
products
CHAIN
AND MARKETS
•
Series of market connected like as product
pass from one market to another
•
Farmer- fertilizer- factory
•
Mechanic-repair-spair parts-factories
•
Goods produced in factories, farms or
houses
•
Producers-traders-final consumers
•
Wholesalers-traders-retailors
MARKETS
EVERYWHERE
•
Exist in specific locality
•
Now can place order by phone or internet
•
Home delivery options
•
Sales representative wait for doctors
•
Farmers purchase fertilizers to grow crops
•
Car factory purchases engines from factories
•
Market traders earn less profit than
shopping complex traders
•
What is produced in one market reaches
everywhere ….the end….