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Buyers and Sellers Market

From the standpoint of market power either the buyer or the seller or both of them together can exercise control over the market. In today’s world, every customer is treated as a king. For some countries, the consumer movement is still in its infancy; the customer is only walking to word the throne and he has not yet assumed the character, power, position and status of the king. As consumerism is gaining ground, market has to produce tailor-made goods to the satisfaction of the customer. In other words, today the buyer’s market dictates are so commanding that there is a shift from ‘mass-production’ to ‘customize production ‘. The customer has become very demanding and quality-copious and as a realist, the customer’s care and satisfaction lies at the root of any business.

If such direct marketing device become increasingly popular, then the monophony power of the buyer will tend to grow further. Customers do not walk to banks; banks walk to the doors of customers. Similarly, and we here of ‘networking’ as a form of direct marketing thought new contacts. Customers do not walk to the market place, market walks into their drawing rooms.

By contrast, for a long time we have been operating in the zone of seller’s market whereby the seller exercises a monopoly market power to exploit the factors as well as the customers. Under the conditions of seller’s market dictates, supply creates its own demand

Availability of goods and services of specific variety and volume, when place in market will be subject to market clearance on its own because then demand will get adjust to the given supply situation. But today, supply of goods (bad) may (not) create its own demand; there may be market about for ‘bad’ quality poor goods.