Types of Markets

EasyBiz > Marketing > Role of Marketing > Types of Markets – resource, industrial, intermediate, consumer, mass, niche


Market

Characteristics

Example

Resource

Factors of production (land, labour, capital & enterprise) are sold/exchanged. These resources are then sold to firms producing goods/services for consumers.

Mining company discovering iron ore

Industrial

Goods/services that go into the production of other products.

Car company sourcing parts to complete vehicles

Intermediate

Buy goods/services to resell/rent them to others eg wholesalers.

Car hire company

Consumer

Market for goods at their final point of consumption

Department store

Mass

Market for goods appealing to the majority of customers.

Milk, electricity, bread

Niche

Smaller markets for more specialised goods/services, appealing to fewer people.

Vet


Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.