What is Market and Marketplace?- (Series 1)

(Previous series was about introduction and objective of Online Marketing Mastermind series.)

After politics and showbiz, perhaps,  marketing has become so popular that people discuss, define and explain marketing as per their own level of understanding. These people not necessarily have knowledge or experience to talk about it.

As a result, marketing myths have been created, that makes marketing more difficult to understand for a layman. For example, most of the people think advertising and sales are also marketing. Nope! (For more explanation, read this article: Top Three Types of People To Avoid In Marketing.)

The first step to marketing:

The first step to learn marketing is to forget everything you learned about marketing. Let’s get started by clarifying some myths:

People usually ask and learn a lot about marketing. Even then, I met many people who are still unable to differentiate between market and marketplace. Mostly, people never learnt the word marketplace.

Generally, people use to say, “I’m going to market for shopping.” For a lay man, “going to the market” might not be a big deal. But for marketers there is hell of a difference. It can change marketers’ objective of developing marketing plan, launching brand and can lead their team to the wrong direction.

So, let see what’s the difference between market and marketplace in plain English.

If you already know the difference, just watch this cute and short video and then forward to others. Specially, business students (as they have been my favorite). And yes, please leave your comment at the end of this page. I’ll love to have them all and reply to each separately!

Cartoon: What is Market & Marketplace?  

Open Me (to read summary)

1. What is Market?

Market is not where you buy and sell goods.
Market is not where you hang out.
Market is not your favorite shopping center.

Then what is it?

Market is simply the demand of the product or brand. That’s it.
For example, how many people are out there who are buying /can buy/will buy your product or brand?

2. What is Marketplace?

Then what is (which we use to call market) where we buy and sell goods, hang out with friends, do shopping and have a great time.

That’s marketplace. Marketplace is also known as bazaar, shopping centers, mall, supermarkets, etc..

 

Summary:

1. Market is the demand of the product or brand.
2. Marketplace is where we buy and sell product or brand.

 

Did I miss something? Got ideas what more I could explain? Any suggestions, comments or questions? Let me know in the comments below!

Please remember, I read each and every comment and reply to it.

 

Comments

comments

  • Usman Shahid mughal

    best concept , better script ,good work

    • http://www.kamilali.com/ Kamil Ali

      Thank you Usman !:)

      It would be even better by the next Online Marketing Cartoon video!

  • Sameha_abbas

     nice janab 🙂 gr8 work 

    • http://www.kamilali.com/ Kamil Ali

      Thanks Sameha!:)Share it if you like the marketing cartoon video idea 🙂 

  • http://norelativity.blogspot.com Ujjwal Trivedi

     great start!

    It would be good to have more basics covered per video OR launch 3-4 videos at once grouping relevant concepts together.   

    • http://www.kamilali.com/ Kamil Ali

      Consider it done!:) More Marketing Cartoon Videos coming up for you !!

      Thanks for your comment Ujjwal:)

  • http://twitter.com/Manny_mz Muneeb Umer

    made really clear the difference between market and marketplace. tHE MOST funny part is that girl doesn’t stop speaking about shopping..heheheh really true video of their habits.

    • http://www.kamilali.com/ Kamil Ali

      At least, in the world we live in, shopping is alive due to women.
      Influence of women is everywhere: cultural, social and economic 

  • http://twitter.com/FSchagen FSchagen

    Nicely done, Kamil.
    Great idea.

    • http://www.kamilali.com/ Kamil Ali

       Thanks Frances!
      Good to have you here. Any ideas how to make them better?

  • Usmangulzari

    I am in love with this new concept. May God Bless you with more success & achievements.

    • http://www.kamilali.com/ Kamil Ali

      Thanks for loving my marketing cartoon Usman. Wait for another master piece today:)

  • Numaanali

    asalam o alikum sir,
    i need ur help ….would u send me sm notes related to brand/product positioning strategy and process in a simple language ………..with an example of two wheeler………..cuz i have a presentation on this topic ………..so plz send me sm useful notes…..i’ll be thankful to u…………send me on my mail…..(numaanali@ymail.com) 

    • http://www.kamilali.com/ Kamil Ali

      Sorry for replying you late Numaan Ali,
      I hope this video will help: http://kamilali.com/2011/06/what-is-positioning-or-brand-positioning-part-1-online-marketing-mastermind-series-4/

  • Saddam Khan6699

    hi kamil sir !! good work by u ,very welldone .i want to tell u my problem sir ,,i have passion for marketing ,dats fine ,but i dnt know where to go ..aaahhh its probably due to my less knowledge abt marketing coz im student of BBA(hons) 1st semster ..but seriously i want to know my goals my targets , m really trying hard to clear the way but the fog is still there..i want to know dat after doing mba in marketing ,which kind of jobs would i get nd wot will be the scene …aaaahhh kamil bhai u’ll be bored from me but im puzzled ..help me

    • http://www.kamilali.com/ Kamil Ali

      Saddam,

      If you have found your passion, which is marketing, than I’m sure, your have the reason to start you BBA (honors) program. You’re already on the right track. As people sometime leave their passionate field when they are discouraged or couldn’t find their dream job/ experience. So go and verify that marketing is really your passion by doing 2 things:
      One is harder, but if you have a passion, then you MUST do this:
      1. Read marketing books (Other marketing books along with Philip Kotler’s)And ask your self after reading 2 to 3 books, “does it motivate me to “know more” about marketing?”
      Second one is harder: (But you can always do it after reading many marketing books)2. Go! Offer your services for any company’s marketing department and see if you don’t get discouraged by marketing field.  (Remember, Sales is not Marketing)All the best,

  • Ks_madhusudan

    Market is place were buyer and seller r in such contact that they can exchange products and service i hope without demand also market exist like fish market were seller is uncertain about demand .Can i get some videos on service marketing

    • http://www.kamilali.com/ Kamil Ali

      Madhusudan, Thanks for your comment.The terminologies are different in business education.Generally, people call say market , bazaar, shopping mall, (fish market etc)But, in business field, we call them “marketplace(s)”.”Market” means demand of the product or brand. Videos on services marketing are yet to be developed. I’ll make sure you get themI think you have already subscribed to this blog. if you are, you’ll get them at your inbox.All the best! 

      • Ks madhusudan

        thankyou .all videos r nice and it easy to understand hope u will enlight eveyone in same manner forever

        • http://www.kamilali.com/ Kamil Ali

          Thanks Madhusudan,

          Sure I’ll doing that! You just have to do one thing in return:
          Just keep appreciating and sharing the videos:)

          All the best!

  • sunny

    hello sir 
    how can i get all episods of marketing step by step

    • http://www.kamilali.com/ Kamil Ali

      Hi Sunny!,

      You just need to subscribe to this blog. It’s a gift for you!Click here: http://www.getresponse.com/site/kamilali/webform.html?wid=71643

  • http://www.facebook.com/people/Riaz-Ahamad/100002120011853 Riaz Ahamad

    Good job sir keep it on !

    • http://www.kamilali.com/ Kamil Ali

      Thanks Riaz

  • dash

    What this video says is very true. Lots of people don’t know these differences. I have come across people using the term marketing like it’s some fancy term. They’re out there to impress ignorant people. They haven’t got a clue what the term really means.

    • http://www.kamilali.com/ Kamil Ali

      Thanks Robert!
      I agree with you. However, let them use as many as fancy terms. In the end the idea should follow effective marketing concepts