A market in which all traded goods or services are regarded by customers as substitutes in terms of their characteristics, prices and intended use (substitutes: goods that meet the demand that another product fulfills). – Geographically, an area in which the companies involved offer factually similar goods, and where the competitive conditions (competitive situation: the standing of a company in its markets, compared with its competitors, when all players are designated in terms of their size, resources, capabilities, product range and quality, marketing strategies, opportunities, goals, intentions, behavior and similar variables) are broadly similar. – In detail, the relevant market is defined in the Regulation (EC)
№ 139/2004 explained in detail. – See Collusion, Market Agreements, Price Discrimination, Competition.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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