A market is a space where businesses, governments and individuals come together to buy and sell goods or services. Markets help establish pricing, inject much-needed liquidity into economies, and encourage innovation through the feedback loop between buyers and sellers. They also allow a space for companies to raise capital to further their interests, fulfill growth plans, or invest in their product offerings.
A key concept in markets is supply and demand, which sets the balance between how much of a good or service is sold and how many people need it. A market can be as large as a financial market that allows investors to trade stocks, currencies and bonds, or as small as a neighborhood food stand where locals come together for a weekly farmers’ market.
Markets can be categorized by the type of commodity that is bought and sold (like wheat in a wheat market or electronics in an electronic market). They can also be defined based on how a product will be used, like consumer versus business products and pre-assembled versus DIY furniture kits.
Market research reveals valuable insights that can transform raw data into meaningful information, and ultimately impact business goals. Market research analysis reports can clarify complex marketing data and competitive landscapes to empower stakeholders to take action that drives efficiency, innovation, and growth. When presenting these reports, it’s important to make them visually appealing and easily digestible. Using an app like ChartExpo to create engaging graphs can help make your Market Research Reports more compelling and effective for all of your audiences.