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What is Classification?
Classification in marketing focuses that how business marketing can be classified in the various ways. The different classifications are-
- On the basis of Geographical area- In this category the market can be classified as local, regional, International level market and also national market.
- Time- On the time basis this can be categorized as Market with short term, very short term, long term and Secular or very long term.
- Volume- In this category, it can be classified as Wholesale and Retail market.
- Nature of product- In this type the market can be classified as Commodity and Financial market.
- Market on the basis of competition- In this Monopoly, Imperfect and Perfect are the three types.
- Seller’s Position- In this type market can be categorized as Terminal, Primary and Secondary.
- Transaction- Spot and Future market are the two types in this category.
- Control- In this type of market, Regulate and Non-regulated are the two types.
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