Market (economics)In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
Market segmentationIn marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar s.
Market analysisA market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined.
Market researchMarket research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
Target marketA target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind.
InnovationInnovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
EntrepreneurshipEntrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones. An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as "entrepreneurship".
Stock marketA stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind. The total market capitalization of all publicly traded securities worldwide rose from US$2.
École polytechniqueÉcole polytechnique, also known as Polytechnique or l'X liks, is a grande école located in Palaiseau, France. It specializes in science and engineering and is a founding member of the Polytechnic Institute of Paris. The school was founded in 1794 by mathematician Gaspard Monge during the French Revolution and was militarized under Napoleon I in 1804. It is still supervised by the French Ministry of Armed Forces. Originally located in the Latin Quarter in central Paris, the institution moved to Palaiseau in 1976, in the Paris-Saclay technology cluster.
Fly-by-wireFly-by-wire (FBW) is a system that replaces the conventional manual flight controls of an aircraft with an electronic interface. The movements of flight controls are converted to electronic signals transmitted by wires, and flight control computers determine how to move the actuators at each control surface to provide the ordered response. It can use mechanical flight control backup systems (like the Boeing 777) or use fully fly-by-wire controls.
BoilerFurnace (central heating) and Condensing boiler A boiler is a closed vessel in which fluid (generally water) is heated. The fluid does not necessarily boil. The heated or vaporized fluid exits the boiler for use in various processes or heating applications, including water heating, central heating, boiler-based power generation, cooking, and sanitation. In a fossil fuel power plant using a steam cycle for power generation, the primary heat source will be combustion of coal, oil, or natural gas.
FlyFlies are insects of the order Diptera, the name being derived from the Greek δι- di- "two", and πτερόν pteron "wing". Insects of this order use only a single pair of wings to fly, the hindwings having evolved into advanced mechanosensory organs known as halteres, which act as high-speed sensors of rotational movement and allow dipterans to perform advanced aerobatics. Diptera is a large order containing an estimated 1,000,000 species including horse-flies, crane flies, hoverflies and others, although only about 125,000 species have been described.
Grande écoleA grande école (ɡʁɑ̃d ekɔl; great school) is a specialized top level educational institution in France. Grandes écoles are part of an alternative educational system that operates alongside the mainstream French public university system and are dedicated to teaching, research and professional training in single academic fields such as engineering, architecture, business administration, academic research, or public policy and administration.
Water-tube boilerA high pressure watertube boiler (also spelled water-tube and water tube) is a type of boiler in which water circulates in tubes heated externally by the fire. Fuel is burned inside the furnace, creating hot gas which boils water in the steam-generating tubes. In smaller boilers, additional generating tubes are separate in the furnace, while larger utility boilers rely on the water-filled tubes that make up the walls of the furnace to generate steam. The heated water/steam mixture then rises into the steam drum.
Market structureMarket structure, in economics, depicts how firms are differentiated and categorised based on the types of goods they sell (homogeneous/heterogeneous) and how their operations are affected by external factors and elements. Market structure makes it easier to understand the characteristics of diverse markets. The main body of the market is composed of suppliers and demanders. Both parties are equal and indispensable. The market structure determines the price formation method of the market.
SalesSales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. A period during which goods are sold for a reduced price may also be referred to as a "sale". The seller, or the provider of the goods or services, completes a sale in an interaction with a buyer, which may occur at the point of sale or in response to a purchase order from a customer.
Fire-tube boilerA fire-tube boiler is a type of boiler in which hot gases pass from a fire through one or more tubes running through a sealed container of water. The heat of the gases is transferred through the walls of the tubes by thermal conduction, heating the water and ultimately creating steam. The fire-tube boiler developed as the third of the four major historical types of boilers: low-pressure tank or "haystack" boilers, flued boilers with one or two large flues, fire-tube boilers with many small tubes, and high-pressure water-tube boilers.
Capital marketA capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making long-term investments. Financial regulators like Securities and Exchange Board of India (SEBI), Bank of England (BoE) and the U.S.
Boiler explosionA boiler explosion is a catastrophic failure of a boiler. There are two types of boiler explosions. One type is a failure of the pressure parts of the steam and water sides. There can be many different causes, such as failure of the safety valve, corrosion of critical parts of the boiler, or low water level. Corrosion along the edges of lap joints was a common cause of early boiler explosions. The second kind is a fuel/air explosion in the furnace, which would more properly be termed a firebox explosion.
Nuclear power plantA nuclear power plant (NPP) is a thermal power station in which the heat source is a nuclear reactor. As is typical of thermal power stations, heat is used to generate steam that drives a steam turbine connected to a generator that produces electricity. , the International Atomic Energy Agency reported there were 412 nuclear power reactors in operation in 31 countries around the world, and 57 nuclear power reactors under construction.
