buyer's market - meaning and definition. What is buyer's market
Diclib.com
ChatGPT AI Dictionary
Enter a word or phrase in any language 👆
Language:

Translation and analysis of words by ChatGPT artificial intelligence

On this page you can get a detailed analysis of a word or phrase, produced by the best artificial intelligence technology to date:

  • how the word is used
  • frequency of use
  • it is used more often in oral or written speech
  • word translation options
  • usage examples (several phrases with translation)
  • etymology

What (who) is buyer's market - definition

RIVALRY BETWEEN FIRMS; ABILITY OF COMPANIES TO TAKE EACH OTHERS' MARKET SHARE IN A GIVEN MARKET
Competition (companies); Competitive market; Buyer's market; Seller's market; Economic competition; Competetiveness; Market competition; Competitivity; Cost competitive; Competitive Market; Competitive markets; Competitive Markets; Competitive economy; Competitiveness
  • Airlines competing for Europe-Japan passenger flight market: Swiss and SAS
  • The printing equipment company [[American Type Founders]] explicitly states in its 1923 manual that its goal is to 'discourage unhealthy competition' in the printing industry.
  • Adjacent advertisements in an 1885 newspaper for the makers of two competing ore concentrators (machines that separate out valuable ores from undesired minerals). The lower ad touts that their price is lower, and that their machine's quality and efficiency was demonstrated to be higher, both of which are general means of economic competition.

buyer's market         
When there is a buyer's market for a particular product, there are more of the products for sale than there are people who want to buy them, so buyers have a lot of choice and can make prices come down. (BUSINESS)
N-SING
Competition (economics)         
In economics, competition is a scenario where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm. are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place.
seller's market         
When there is a seller's market for a particular product, there are fewer of the products for sale than people who want to buy them, so buyers have little choice and prices go up. (BUSINESS)
N-SING

Wikipedia

Competition (economics)

In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, the lower prices for the products typically are, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).

The level of competition that exists within the market is dependent on a variety of factors both on the firm/ seller side; the number of firms, barriers to entry, information, and availability/ accessibility of resources. The number of buyers within the market also factors into competition with each buyer having a willingness to pay, influencing overall demand for the product in the market.

Competitiveness pertains to the ability and performance of a firm, sub-sector or country to sell and supply goods and services in a given market, in relation to the ability and performance of other firms, sub-sectors or countries in the same market. It involves one company trying to figure out how to take away market share from another company. Competitiveness is derived from the Latin word “competere”, which refers to the rivalry that is found between entities in markets and industries. It is used extensively in management discourse concerning national and international economic performance comparisons.

The extent of the competition present within a particular market can be measured by; the number of rivals, their similarity of size, and in particular the smaller the share of industry output possessed by the largest firm, the more vigorous competition is likely to be.