3DefinitionA market is any geographical area where exchange of goods and services takesplace via money between buyers and sellers.It is a place where thesellers of a particular good or service can meet with the buyers of thatgoods and service where there is a potential for a transaction to take place.The buyers must have something they can offer in exchange for there to be a potential transaction.
4It can be defined as a place where any type of trade takes place It can be defined as a place where any type of trade takes place. Markets are dependent on two major participants – buyers and sellers. Buyers and sellers typically trade goods, services and/ or information. Historically, markets were physical meeting places where buyers and sellers gathered together to trade. Although physical markets are still vital, virtual marketplaces supported by IT networks such as the internet have become the largest and most liquid.
5Weekly MarketA weekly market is a market which is held on a specific day of the week. It does not have permanent shops. As comparison with other markets it is a very cheap and in-budget market.
6Shopping Complexes and Malls A shopping mall, shopping centre, shopping precinct or simply mall is one or more buildings forming a complex of shops, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version of the traditional marketplace
7Chain of MarketsThe supply chain consists of mostly for-profit companies engaged in activities involving product creation and delivery. Essentially the chain represents major steps needed to manufacture a product that will eventually be sold as a final product. Each member of the supply chain purchases products and services enabling them to carry out its business objectives. When making purchase decisions supply chain members may be motivated by such factors as: product cost, return on investment (i.e., benefits obtained exceed price paid), assurance of consistent supply (i.e., product is available and delivery is on-time), reciprocity with supplying firm (i.e., we buy from you and you buy from us), and much more.
8Examples of purchasing occurring in the supply chain include: manufacturing and plant equipment, information technology, office supplies, professional business services, etc.
9Markets and EqualityThe exchange of goods and services in a free market will often produce unequal outcomes. People will generally reject transactions that make them worse off, but a few will make mistakes that push them into poverty. Some mistakes will be made when naïve or innocent people are “ripped off” by bad people (they should be forced to make restitution), but most poverty is not the result of evil actions, but flows from the vagaries of life. Trade in free markets can push people into poverty without any immoral action being taken.
10A bad decision in a free market can produce a huge loss. An unwise offer will sometimes be accepted.A desperate seller may be forced to accept a very low price.Some people are foolish buyers.Others are foolish sellersSome people are not as clever as others.People with rare skills can achieve higher pay than others.People who do not use their skills and capital may find themselves in poverty.
11A Shirt in a MarketIn this part we will discuss that what are the various steps involved in the manufacturing of the shirt in the market till the delivery of the final product to the customers.Cotton industry in IndiaIt is a characteristic of many great nations that they leave their imprint on specific industries and crafts so that thoughts of one are immediately associated with thoughts of the other -- silks with Japan, batik printing with Indonesia, wood carvings with the Philippines, tea with Sri Lanka and cotton textiles with India.
12Some are the result of geography, others have been developed because of the ready availability of materials--but all bear the individual stamp of a country's genius and a peculiar relationship to the people and their history.
13India's woven textiles are famous throughout the world India's woven textiles are famous throughout the world. Delicate colors and distinctive patterns have been hallmarks of the Indian craftsmen for centuries past; the beautiful cotton materials shown above are typical examples.
14HistoryThe cotton cloth weavers of India have been known since the earliest days of recorded history. A fragment of madder-dyed cloth found in the Indus Valley excavation in northern India showed that weaving and dyeing were flourishing arts over 5,000 years ago. They were skills that were to increase and diversify down the centuries, attracting wider and more lasting acclaim. Arab travelers in 9th Century India reported that "...they make garments of such extraordinary perfection that nowhere else is their likeness to be seen..." Marco Polo observed that the art of embroidery, as practiced in Gujarat in the 13th Century, was incomparable.
15It was not only the technique of dyeing that made India's textiles famous. The fabrics were embellished with scintillating designs which India alone could offer. There were some of which every thread of warp and weft was dyed before being placed on the loom; a design appeared as the weaving progressed and was identical on either side. It was the craft of the individual artist who inherited his skill from his forbears and who gave his own aesthetic conception to the products he made with his own hands.
16Case StudyKurnool is a small place in Andhra Pradesh, there lives a farmer named Swapna, who grows cotton on her small piece of land. The balls of the cotton plant are ripped and then are to be picked. These bolls take several days to burst and then they harvest.Swapna and her husband decided to take the cotton to the local trader instead of selling it in the Kurnool cotton market. In the beginning she had borrowed Rs from a trader at a very high rate of interest; as cotton harvesting require high levels of input, but with a promise to sell all the cotton to that trader.
17At the traders’ yard two of his men weigh the bags of cotton, at a price of Rs.1500/quintal and it fetches Rs The trader deducts Rs for repayment of loan and interests and paid Swapna Rs.3000Related questions to the Case StudyWhy do small cotton farmers borrow money?To whom does Swapna sell all her cotton and why?Why did the trader pay Swapna a low price?Did the trader pay Swapna a fair price?
18The Cloth Market in Erode Erode is a city, an urban agglomeration, a municipal corporation and headquarters of the Erode district in the South Indian state of Tamil Nadu
19Erode is well known for handloom, power loom textile products and readymade garments and hence it is called Loom City of India or Texvalley of India. Products such as cotton sarees, bed spreads, carpets, lungies, printed fabrics, towels, dhotis are marketed here in bulk. It has also been nicknamed as Manjal Maanagaram (Turmeric city) and Javuli nagaram (Textile city).
20Putting-out-system-Weavers Producing Cloth at Home (at Erode) Based on the order the merchant distribute the work among the weavers as he receives the cloth. They get the yarn and then supply the cloth to him. For the weavers there are two advantages:-The weaver does not have to spend their money on purchase of yarn.The problem of selling the finished clothes is also taken care of.
21Due to this they come on to the judgment that how much cloth they have to produce and what cloth they have to make. But this means that they have lot of power in the current market. They give orders and pay a low price.After this the cloth is being send to the garment factories, in this the market works in the favor of the merchants.The arrangement between the merchants and the weavers is an example of putting-out system, whereby the merchant supplies the raw material and receives the finished product.
22The garment Exporting Factory near Delhi The Erode merchant supplies the cotton cloth to garment exporting factory near Delhi. It will use the cloth to make shirts, then these are exported to foreign buyers, they set high standard of quality of production and timely delivery. So, the exporter tries his best to meet the conditions set by these powerful buyers. In turn the garment exporting factories try to cut cost.
23In this way a cotton shirt is manufactured by raw cotton and then is delivered to the final consumers. This whole process decides the price of the shirt, if the foreign buyers or big brands are involved then the price will be at it heights and if it’s being send to a local shopkeeper the cost will be according to it.MARKET
24ASSIGNMENT WHAT IS MARKET ? DIFFERENCE BETWEEN MALL AND SUNDAY MARKET ?WHAT IS CHAIN MARKET ?WHAT ARE THE DISADVANTAGES OF ADVERTISEMENT ?MARKET
25ACTIVITYBY SHOWING SOME OF THE GOODS (COPY, PEN, PENCIL, BOOKS ETC.), AND INTERACT WITH STUDENTS.MARKET
26PROJECT COLLECT ADVERTISEMENT CUTTING AND PASTE THEM IN SCRAPBOOK. MARKET