the buying and selling of goods

http://www.macmillandictionary.com/us/thesaurus-category/american/general-words-for-the-activity-of-buying-and-selling

that's called commerce

The buying and selling of goods refers to the process of exchanging products or services for money or other items of value. It is a fundamental aspect of commerce and plays a crucial role in economies worldwide. Buyers purchase goods they need or desire, while sellers offer those goods for sale.

To understand how buying and selling works, you need to consider the following steps:

1. Identifying needs: Buyers recognize a need or desire for a particular product or service. This could be anything from essentials like food and clothing to luxury items like electronics or cars.

2. Research: Buyers conduct research to gather information about the product or service they want to purchase. This includes comparing prices, brands, features, and reviews to make an informed buying decision.

3. Finding sellers: Buyers locate sellers that offer the desired goods. This can be done through various channels such as physical stores, websites, online marketplaces, or even individual sellers.

4. Contact and negotiation: Buyers may reach out to sellers to inquire about prices, availability, or ask for additional details. Negotiation might occur to determine the final price, terms, or any special offers.

5. Purchase: Once both parties agree upon the terms, the buyer makes the purchase by providing payment in the agreed-upon currency or method, such as cash, credit card, or online payment systems.

6. Delivery or exchange: The seller either delivers the goods physically or provides a means for the buyer to access or receive them. This could involve shipping, electronic transfer, or face-to-face interaction.

7. Satisfaction and feedback: After receiving the goods, the buyer evaluates whether the product or service meets their expectations. Feedback may be provided to the seller through reviews or ratings, which can help future buyers in making decisions.

On the other side, sellers participate by:

1. Sourcing or producing goods: Sellers identify products or services they can offer for sale. This could involve manufacturing, procurement from suppliers, or sourcing existing inventory.

2. Pricing: Sellers determine the price at which they are willing to sell the goods, taking into account factors such as production or acquisition costs, market demand, competition, and desired profit margins.

3. Marketing and advertising: Sellers promote their products or services to reach potential buyers. This includes various marketing activities such as advertising, branding, online presence, and engaging with potential customers through targeted campaigns.

4. Sales and customer service: Sellers engage with potential buyers, answering inquiries, providing product information, addressing concerns, and assisting with the purchasing process.

5. Transaction processing: Sellers handle the financial aspects of the transaction, ensuring a smooth payment process and facilitating any required documentation, such as invoices or receipts.

6. Fulfillment: Sellers fulfill the orders by either shipping the goods or making them available for the buyer to collect, ensuring they reach the buyer in satisfactory condition.

Overall, buying and selling of goods is a dynamic process involving multiple steps, interactions between buyers and sellers, and considerations to ensure a successful transaction.