Meta-Market

Two or more distinct markets that are associated in some way to a product or service.

Meta-market can also be defined as a cluster of complementary products and services that are closely related in the minds of consumers, but spread across a diverse set of industries. For example, the meta-market for house cleaning products includes homeowners and domestic cleaning service companies. The automobile meta-market consists of automobile manufacturers, new car and used car dealers, financing companies, insurance companies, mechanics, spare parts dealers, service shops, auto magazines, classified auto ads in newspapers, and auto sites on the Internet.

There are some products whose purchase necessitates other purchases. For automobile, with the purchase of an automobile a buyer will have to buy Insurance from insurance company and also he/she may get a loan. So, a smart auto dealer would make all three purchases easier for the buyer by partnering with an insurance company and a bank. Such an auto dealer is performing as a “metamediary”.

Marketers can identify their meta-market by observing the consumption pattern of the consumers and then they create packages to provide convenient and pleasant purchasing experience to consumers.

Sawnhey defines a meta-market as,

“a set of products and services that consumers need to perform a cognitively related set of activities”