(1) Lack of double coincidence of wants
(2) Non-existence of common measure of value

In 16th Century Delhi, Mumbai, Ahmedbad, Sonar, Sonargoon, Jaunpur and Lahore were considered as important trade centres.

(i) Hindrance of Person
(ii) Hindrance of Place
(iii) Hindrance of Time
(iv) Hindrance of Finance
(v) Hindrance of Knowledge

The night market was called as Allangadi.

Barter system refers to a system where "Goods were exchanged for goods prior to invention of money".

(i) Hindrance of finance :
(1) Producers and traders may not have the required funds at the time of their need.
(2) Banks and other financial institutions provide funds and help in transfer of funds to enable the functioning of business smoothly.
(ii) Hindrance of developing the exact product :
Research and development helps in developing the exact product or service which can satisfy the specific wants of consumers and thus improve the standard of living of the people.
(iii) Hindrance of both selection and delivery doorsteps :
E-Commerce enables the consumer to select the product in the website, place online orders and make payment after receiving the product at the door step.

(i) "Kautilya's Arthasastra" describes economy in Mauriyan time. This brought out history of marketing practised some 2,000 years ago.
(ii) According to Kautilya, trade in Medieval India was centralised.
(iii) Since the commodities produced could not be sold in the location of production, the state designated certain places for selling the commodities.
(iv) It levied duties on goods brought into the city and could be sold after payment of duty.
(v) Kautilya gave importance for the state in relation to treasury, taxation, industry, commerce, agriculture and conservation of natural resources.
(vi) Kautilya's Arthasasthra focused on creation of wealth as the means to promote the well being of the state.

Port towns like Tondi, Korkai, Puhar and Muziri were developed by Pandiya kingdom.

1. Trade in Sangam period was both internal and external but it was conducted by means of barter (pandamattru).
2. Trade was one of the major means of linking various regions in the medieval period.
3. Sangam work refers to great traders, their caravans, their security force, markets, marts and guilds of such great traders.

Big cities like Poompuhar had two towns called 'Maruvurappakam' (inland town) and Pattinapakkam (Coastal town) had market and bazaars where many merchants met one another for the purpose of selling or buying different kinds of commodities and food stuff.

1. According to Kautilya, trade in Medieval India was centralized.His Arthasastra describes economy in Mauriyan time.
2. The State designated certain places for selling the commodities.
3. It levied duties on goods brought into the city and could be sold after payment of duty.
4. The authorized merchants were allowed to engage in trade to sell at prices fixed by the chief controllers of State Trading.
5. The profit margin was fixed from 5 percent to 10 percent for imported goods.Kautilya gave importance for the State in relation to treasury, taxation, industry, commerce, agriculture and conversation of natural resources.
6. The creation of wealth is focused as the means to promote the well-being of the state.
7. He encouraged the maintenance of perfect balance between State management and people's welfare through trading activities.

The passage of goods and services between the producer and the consumer is best with many hindrances and some of them are as follows:
Hindrance of person:
1. Manufacturers do not know the place and face of the consumers.
2. It is the retailer who knows the taste, preference and location of the consumers.
3. The chain of middlemen consisting of wholesalers, agents and retailers establish the link between the producers and consumers.
Hindrance of place:
1. Production takes place in one centre and consumers are spread throughout the country and world.
2. Rail, air, sea and land transports bring the products to the place of consumer.
Hindrance of time:
1. Consumers want products whenever they have money, time and willingness to buy.
2. Goods are produced in anticipation of such demands.
3. They are stored in warehouses in different regional centres so that they can be distributed at the right time to the consumers.
Hindrance of risk of deterioration in quality:
1. Proper packaging and modern air conditioned storage houses ensure that there is no deterioration in quality of products.
2. Goods are protected against insects, rats, evaporation etc..
Hindrance of risk of loss:
1. Fire, theft, floods and accidents may bring huge loss to the business.
2. Insurance companies serve to cover the risk of such losses.
Hindrance of knowledge:
Advertising and communication help in announcing the arrival of new products and their uses to the people.
Hindrance of exchange:
Money functions as a medium of exchange and enable the buying and selling of any product or service by payment of the right price.
Hindrance of finance:
1. Producers and traders may not have the required funds at the time of their need.
2. Banks and other financial institutions provide funds and help in transfer of funds to enable the functioning of business smoothly.
Hindrance of developing the exact product:
Research and development helps in developing the exact product or service which can satisfy the specific wants of consumers and. thus improve the standard of living of the people.
Hindrance of both selection and delivery at doorsteps:
E-Commerce enables the consumer to select the product in the website, place online orders and make payment after receiving the product at the door step.