Types of Market

A marketing perspective on the concept of market defines it as the actual or potential demand for a product or service for a certain period of time.
Analyzing the market reveal more classification levels from the reference product market to brand market or company market.
The reference product market includes all the consumers of all products that satisfy the same need and all the suppliers for those products. It represents the mass of consumers or users of the same kind of products, not considering the brand or the producer. This market has actual geographic, demographic and social limitations.

A company's performance on a certain product's market is indicated by :
The main types of markets are established considering various criteria:
  1. Customers' interest, buying power and reach:
  1. Considering the substitution and complementarity relations between products:
  1. Geographical location:

Evaluating the market size implies the following aspects:
Q is the maximum sales volume possible for a product
n is the number of individuals in the market
q is the average quantity bought by a person
p is the price of the product.
When evaluating the market size, aspects like the product, the product range, the company, the geographical area need to be considered.