market

Vocabulary Word

Definition

In a wider sense, 'market' refers to an area where buyers and sellers interact to exchange goods, services or information, like the stock market or a job market.

Examples in Different Contexts

Tech startups 'market' their software solutions to differentiate from competitors. A product manager might plan, 'We'll market our app's unique encryption features at the upcoming tech convention.'

Practice Scenarios

Business

Scenario:

To launch our product successfully, we should have a clear understanding of our potential customers.

Response:

Absolutely, analyzing our market thoroughly would lead to a more successful product launch.

Impact

Scenario:

People are more aware of environmental issues. This considerably expands the consumer base for sustainable products.

Response:

I believe our eco-friendly product could do well in the growing market for sustainable goods.