What is The Definition Of Business Market And Business Marketing ?


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The labor market is a complex system of relatively independent and interdependent markets. According to the criteria selected, today’s labor markets can be transformed into a different form.

The labor market is a complex system of relatively independent and interdependent markets. According to the criteria selected, today’s labor markets can be transformed into a different form.
А. For the company that employs the labor force, the markets are dividing into two groups according to labor resources, namely the internal market and the external market.

Business market A: Foreign Labor Market

Also referred to as the secondary labor market, the company employs people who do not have the required labor force and want to change some of their spare time. It is dynamic and dynamic in terms of its own distribution mechanism and redistribution of the workforce.

 Business marketing B : Internal labor market.

It is known as the primary labor market for the company. In fact, it is precisely suited for large companies and depends on their policy of Human Resources Management.

The national labor market is as follows::
– local labor market /rural, urban/;
– segmented /provinces or different regions at the level/;
– markets at the national level.

The world market, what we have distinguished here:
– regional / Latin America, Eastern Europe, Scandinavian and others/;
– continental /Europe, Asia and other/.

If the mobility of the workforce is within the borders of the country, then the borders of the labor market are expanding and we are talking about the national labor market.

We are talking about the international labor market if it reaches the level of gathering beyond national borders and when the mobility of resources – labor exceeds national borders. It may be regional depending because of the geographical boundaries, as a classic example.

Business Market And Business Marketing

Business marketing C : Professional criteria – labor markets could be differentiated into three groups in terms of specialization and differentiation of labor force

employment/ professional labor markets / skilled labor markets/ job supply and employment for people who own a particular profession here: doctors, teachers, programmers, and many more professional markets.

Another criterion is professional personal criteria. Also, special vocational preparation and competence that provides mobility to employees, business marketing areas, companies, and regions are obtaining in higher education institutions. Therefore High mobility is not only on the basis of competence but also by the existence of salary, working conditions, and opportunities for professional development and promotion.

Business marketing D: unskilled labor markets 

Include the labor markets where workers who offer their own labor do not have any qualifications. They have very low qualifications and the level of education is low, and are mostly unemployable. Therefore Employers in these markets do not seek much vocational preparation from job seekers.

A worker is an unskilled person. Because the bazaar that does not require any professional preparation, for simple jobs, i.e. for activities that can be done by everyone. Therefore, for this reason, economists call such markets “the market for all”. This is the amount of wage that is decisive for job seekers in the markets.

Business marketing E: “production“ /business area, branch/ labor markets.

To the needs of a particular industry, industry or enterprise and require special vocational training. The qualifications of the workers are to serve specific sectors or Productions and can only be used there. Because of These markets include large areas of the economy, industry, and sectors such as public administration etc.

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