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The market structure determines the price formation method of the market. Suppliers and Demanders (sellers and buyers) will aim to find a price that both parties can accept creating a equilibrium quantity. Market definition is an important issue for regulators facing changes in market structure, which needs to be determined. [1]
ISO 10962, known as Classification of Financial Instruments (CFI), is a six-letter-code used in the financial services industry to classify and describe the structure and function of a financial instrument (in the form of security or contract) as part of the instrument reference data.
The geographic boundaries of a market may vary considerably, for example the food market in a single building, the real estate market in a local city, the consumer market in an entire country, or the economy of an international trade bloc where the same rules apply throughout. Markets can also be worldwide, see for example the global diamond trade.
Market structure is included in the JEL classification codes as JEL: D4, L1 Wikimedia Commons has media related to Market structure . The main article for this category is Market structure .
Market research about market structures and processes must be done to define the “relevant market”. The relevant market is an integral part of the whole market, on which the company focuses its activities. To identify and classify the relevant market, a market classification or segmentation has to be done. [3]
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.
Many non-perishable goods fall into this category. The third category is the long-period market where the length of time can be improved by capital investment. [62] [63] Other ways to classify markets include its trading area (local, national or international); its physical format or its produce. Major physical formats of markets are:
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...