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Definition of the Term “Market”

Definition of the Term “Market”. Generally, the term means a place where items are bought and sold. Definition of the Term “Marketing”. All steps and processes in getting the product from the producer to the consumer. Transportation Packaging Pricing Promoting. Processing Storage

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Definition of the Term “Market”

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  1. Definition of the Term “Market” • Generally, the term means a place where items are bought and sold.

  2. Definition of the Term “Marketing” • All steps and processes in getting the product from the producer to the consumer.

  3. Transportation Packaging Pricing Promoting Processing Storage Financing Retailing Factors Involved in the Marketing Process

  4. Who Is Involved in the Agricultural Marketing System? • Farmers (Producers) • Consumers • Agribusiness • Wholesalers • Retailers • Transporters

  5. Economic Factors Affecting the Marketing System • Supply and Demand • Price - Costs of related goods • Surplus - Changes in consumer tastes • Shortage - Costs of inputs • Competition

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