The Making of Markets

Jo M. Martins (), Farhat Yusuf () and David A. Swanson ()
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Jo M. Martins: Macquarie University, Department of Marketing and Management
Farhat Yusuf: Macquarie University, Department of Marketing and Management
David A. Swanson: University of California Riverside, Department of Sociology

Chapter Chapter 1 in Consumer Demographics and Behaviour, 2011, pp 3-14 from Springer

Abstract: Abstract This initial chapter introduces some of the issues that are dealt with in the book. It describes what the essence of markets is. Among other things, it shows that there are no markets without people and that markets reflect people’s behaviour according to their characteristics and varying purchasing power. It reviews choices that people have to make regarding consumption and saving and the use of credit. The concepts of propensities to consume and saving are introduced and illustrated. It discusses the influence of varying incomes and changing priorities for basic and progressive commodities. It also discusses the relationship between population and market size and the importance of the level of income to the range of products sought. It reviews market size, population and income per capita in terms of purchasing power parities of different currencies and the ability to progress from a narrow range of basic commodities to other products. It points to the roles of money and credit in the market. Further, it illustrates the association between income and people’s age and sex. It introduces market segmentation using people’s characteristics. Finally, it places the demographic dimension in the overall context of the development of market strategies.

Keywords: Gross Domestic Product; Household Consumption; Market Size; Purchasing Power Parity; Price Discrimination (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssdmcp:978-94-007-1855-5_1

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DOI: 10.1007/978-94-007-1855-5_1

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