ABSTRACT
The concept of a market as somewhere that buyers and sellers interact and execute trades is more complex than at first sight. For mature enterprises, periodic strategic planning typically revolves around consolidating market position and making incremental gains against competitors in existing markets as well as identifying new profitable markets. Having good market intelligence is a prerequisite for any significant market decision. Established market players can wield a lot of power and customer inertia is a strong force to overcome. Starting a new programme for individuals requires a complete teaching schedule and a dedicated marketing effort, which are typically time-consuming and costly. At the macro scale, understanding markets through the study of economics is more art than science and there are many theories on what drives business cycles and the respective roles the private and public sectors play in the overall process. Alongside marketing, sales models are also undergoing significant change in the modern environment.
