# How do We Describe Markets?

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All right so as marketers

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we need to be able to talk about

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different markets

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and know really what we're talking about.

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In other words we need to be able to

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describe

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markets in a meaningful way how do we do

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that?

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Well a lot of times we align the markets

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around the

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the goods or the services that we expect

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them

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to consume or purchase. So

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the good or service that we plan to sell

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is

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or provide is often one way that we

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describe a market.

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The other way or another way that we

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might describe a market

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is which need are we meeting in other

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words what need is met

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by our good or service and this can be

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different

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we can sell different people the same

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product

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to meet different needs that happens all

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the time so that's another key way

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that we can describe a market is by what

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need are we meeting.

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Next we can also describe markets by the

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customer characteristics

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among the customers in that market so it

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could be demographics it could be all

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sorts of different things that describe

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really the customer in that market more

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so than just the market itself

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so that's a third way we can describe a

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market and then lastly

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location is a very common way to

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describe a market because

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for one thing a lot of times being in

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different places geographically

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will make some kind of meaningful

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difference

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in the consumer or in the way they use

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our product.

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So these are the four different ways

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that we can describe a market.