Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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What is Supermarket?
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A market is a place which enables the buyers and sellers to exchange goods and services in consideration of a price. This concept is highly used in subjects of Marketing and Economics. It consists of the institutions, systems and social relations where customers and sellers engage themselves into a transaction.
A market can be in the form of a retail outlet, a supermarket, a departmental store or a mall. All these institutions are places where customers meet face-to-face with the sellers and take a decision of purchasing a product or service.
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