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Things you need to know in Market Places - MyBusinessPlace.Com

In general parlance, a market is a location where those willing to pay a price for something meet those willing to sell it. In marketing, a market is the sum total of potential buyers of a product. In economics, a market is a mechanism which allows people to trade, normally governed by the theory of supply and demand, and thereby allocates resources through a price mechanism…

Product / Price / Promotion "Placement" / Service / Retail Marketing research / Marketing strategy Advertising / Sales promotion Personal Sales / Publicity Public relations / Direct marketing Newspapers / Magazines Broadcasting / online media Blogging / Billboard Promoters / Infotainers The American Marketing Association suggests that Marketing is the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services …

BEWARE!!!
The black market is the sector of economic activity involving illegal economic dealings, typically the buying and selling of merchandise illegally. The goods may be themselves illegal, such as the sale of prohibited weapons or the illegal drug trade; the merchandise may be stolen; or the merchandise may be otherwise legal goods sold illicitly to avoid tax payments or licensing requirements, such as cigarettes or unregistered firearms. It is so called because "black economy" or "black market" affairs are conducted outside the law, and so are necessarily conducted "in the dark", out of the sight of the law.

Black markets are said to develop when the state places restrictions on the production or provision of goods and services that come into conflict with market demands. These markets prosper, then, when state restrictions are heavy, such as during prohibition or rationing. However, black markets are normally present in any given economy.

As a result of an increase in government restrictions, black market prices for the relevant products will rise, as said restrictions represent a decrease in supply and an increase in risk on the part of the suppliers, sellers, and any and all middlemen. According to the theory of supply and demand, a decrease in supply—making the product more scarce—will increase prices, other things being equal. Similarly, increased enforcement of restrictions will increase prices for the same reason.

Goods acquired illegally can take one of two price levels. They may be less expensive than (legal) market prices because the supplier did not incur the normal costs of production or pay the usual taxes. Alternatively, illegally supplied products may be more expensive than normal prices, because the product in question is difficult to acquire and may not be available legally.

One last thing, though you already have a good business brand, that alone doesn't mean everything is ok, particularly for those businesses in-line with retail and trading. You should consider evaluating the location and market position. This does have a greater impact in capturing your target market.

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