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of products and does not sell on high prices and duplicate articles, it gains popularity,

otherwise, people would not compromise with any shopkeeper of the market. This causes
failure of the market.
5. Price : The price of things available in the market should be genuine. Consumers generally
avoid markets where prices are high and prefer to go to markets with reasonable prices.

6. Income level : The shopkeeper should keep in mind the economic standards of the
consumers. He should maintain a stock of different articles of high, low and medium

prices. It is the shopkeeper who has to judge to which type of customer he has to cater and
maintain his stocks accordingly. He should keep in mind that he has to cater to customers
to all types, so he should keep all varieties of things both cheap and costly.
KinDs of marKeTs

On the basis of strength of trade and the nature of customers, markets can broadly be
grouped into retail markets and wholesale markets.

1. Weekly Markets : Weekly markets are those markets where hawkers or retailers put their
product on footpaths or along side the road on a particular day of the week in a particular
area. The products available in these markets are daily usage household products, clothes,
eatables etc. These markets are called weekly markets and in local language these are

named according to the day when these are held.
These markets do not have permanent shops. The hawkers or traders set up their shops at
a particular time on a particular day in a particular area and wind-up them at the end of
the day. Next day they set up their shops in any other area.

These traders are benefitted for not paying rent for permanent settlement, electricity
charges and governmental charges. The only investment they have to do are the wages
they have to pay to the workers. Most of them save this money too by employing the family
members as workers.

One can get many things at a time and at a place in weekly market.
2. Neighbourhood Market : In most of the cities and villages in

India, neighbourhood market can be found. Neighbourhood
market has many type of shops selling items which we need in
our daily life. General stores, medical stores, vegetable vendors,
small servicing shops, electrical stores, etc. can be normally seen
in a neighbourhood market. They have permanent shops. Apart
from them many vendors can also be seen in such markets. These Weekly Market
vendors sell fruits, vegetables, eatables and trinkets.

A neighbourhood market gives a certain degree of facility to everybody and especially to
housewives. One need not travel too much when someone is going to buy something from
a neighbourhood market. If a male member is not in the house then a lady can easily walk
down to a local shop to buy necessary items. Even in case of an emergency, like arrival of
an important guest, one can depend on the neighourhood market for supply of necessary

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