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The perfect market has three essential features
First, that there should be group of buyers and sellers. Secondly, there should be effective competition between buyers and same commodity in the same market.






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For the present study, however, market could be considered a sphere within which price-making forces operate and in which exchanges of title tend to be accompanied by the actual movement of the goods affected. The market is a stage on which economic actors-firms, households, and unions meet and make key economic decisions for society.

From the management point of view market does not mean or refer either to a place or a 'commodity'. But it refers to a 'social institution', performing the work of middlemen transport agency, broker, investors, etc.....

The necessity of marketing was felt, however, with increased competition. certain major social changes such as shift from agriculture to industry, rise in living standards and development of transport an communication, accelerated the necessity for an organized marketing procedure. It was at this stage that every one started feeling the importance and purpose of marketing concept.

Today marketing considerations are most critical in business planning and decision-making. the National Association of Manufacturers put this cogently when it said, "..... In this exciting age of change, marketing is the beating heart of many operation. It must be considered a principal reason for corporate existence. The modern concept of marketing recognizes its role as a direct contributor to profits as well as sales volume...To endure in this highly competitive change infested market, a company must first determine what it can sell, how much it can sell and what approaches must be used to entice the wary customer....Market are ever growing and rapidly changing.  More money is needed to develop and support marketing programmes....?

At present, there is a growing recognition of th role of marketing among business promoters and executives.  This, in turn, has led to an entirely new way of business thinking.  This new development has ultimately paved the way for evolving a new business life, quite contrary to that of the past.  It si called the marketing concept', a concept that changed production and engineering-oriented structures. 

Marketing today is a complex and complicated area for management.  It has become a vital business philosophy, the value of which cannot be ignored.  dynamic changes are likely to happen in future with the changes in attitudes and values of the society.
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