Market practices refer to the established behaviors and strategies that businesses use to promote and sell their products or services. These practices can include pricing strategies, advertising methods, and customer engagement techniques. Companies often analyze market trends and consumer preferences to adapt their practices for better competitiveness. Additionally, market practices are influenced by regulations and ethical standards within a specific industry. For example, practices in the retail sector may differ significantly from those in the technology sector. Understanding these practices helps businesses align their operations with market demands and consumer expectations.