Collocations with “Market”
Hello English learners. Welcome to a new lesson. We will look at some commonly used collocations with “market”.
Good vocabulary, especially understanding of idioms, phrases and collocations is essential and it will greatly improve your ability to communicate in a foreign language. In that sense, let’s look at some useful vocabulary you should’ know:
- Foreign/local/global/competitive/thriving/sluggish market
- Market growth
- Market leader
- Market share
- Market forces
- Market pressure
- To enter a market
- To dominate a market
- To corner a market
- To monopolize a market
- To penetrate a market
- To leave/abandon a market
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Let’s look at some adjectives commonly used with “market”.
A foreign market is a market which is outside the country the company comes from, while a local (also domestic or home) market is about selling the products or services within the country.
- Our company’s products are selling way better in the foreign than in the local market.
Global market refers to the market where goods and services are sold to other countries.
- China is a huge seller of plastic articles in the global market.
A competitive market is a market where no one (neither buyers nor sellers) has any influence over the market.
- Economic power is limited by the competitive market.
A thriving market is growing and developing one.
- It is hard to imagine a product that is not on offer in this thriving market.
A sluggish market has low traffic.
Here are some market + noun collocations:
Market growth refers to the increase in the number of buyers of a certain product or the number of products that are sold.
- There’s been recorded rapid market growth in selling air-conditioners.
The company which sells the biggest amount of a particular product.
- Tesla is the market leader in selling electric cars.
The term market share refers to a part of a market which is controlled by a particular product or a company.
- The company’s market share has dropped to 15% in the past few months.
The economic factors such as buyers and sellers’ behaviour which cause prices in the market to change are considered market forces.
- The price of oil depends on market forces.
Market pressure has to do with the relationship between what people want to buy and how much they are willing to pay for it.
- We are hoping that the prices will remain the same regardless of the market pressure.
You will often hear these verb collocations with the word “market”:
To enter a market
If the company enters the market, it starts selling its products there for the first time.
- After passing the test in the UK, the company decided to enter the Indian market.
To dominate a market
The company which has the greatest influence on prices, distribution, customers, etc. is said to dominate the market. It is usually the company which has the largest market share in the market.
- Saudi Aramco definitely dominates the oil market as it has the biggest impact on the price of oil as well as the volume of sold oil.
To corner a market
Cornering the market is similar to dominating it. The company that corners the market is working on becoming the largest seller of a particular product in that market.
- Adidas cornered the market in sportswear.
To monopolize a market
The company which monopolizes the market has complete control over it and prevents other companies from having any effect on it.
- The supermarket chain monopolized the market so that many retailers had to close down.
To penetrate a market
When we say that the company penetrates the market, we mean that it begins to sell there and is selling more and more in time.
- The food-chain company is trying to penetrate the European Union market
To leave/abandon a market
If a company leaves or abandons the market, it stops selling its products there.
- The computer company is considering abandoning the market in the country if the taxes go any higher.
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