Approaches

Functional approach

Institutional approach

Commodity approach

Behavioral system approach

Structure-Conduct-Performance approach

Exchange functions

Physical functions

Facilitating functions

Storage

Transportation

Processing

Manufacturing

Assembly

Handling and Packaging

Standardization and Grading

Financing

Risk bearing

Standardization

Market interligence

Buying function

Selling function

Merchant middlemen

Agent middlemen

Speculative middlemen

Processors and manufacturers

Facilitative organizations

Retailers

Wholesalers

Commission-men

Brokers

Group 1

Group 2

Input-Output system

Power system

Communication system

Adaptation to internal and external changes

Market structure

Market conduct

Market performance

Concentration

Barriers to entry

Economies of scale

Product differentiation

Capital requirements

Switching cost

Access to channels of distribution

Government policy

Pricing strategies

Collusive behavior

Mergers

Price level and stability

Profits

Margins and cost volumes

Product quality, variety and distributions within the market