market practice

USAGE SUMMARY

The phrase "market practice" is correct and usable in written English.
It is typically used to refer to the customary or standard practices within a particular market or industry. Example: "In the financial sector, market practice dictates that all transactions must be transparent and well-documented."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

44 human-written examples

In a previous statement, he said his client acted properly and followed established market practice.

The New York Times

Whether Mr. Hadden followed established market practice will be a topic for discussion with regulators.

The New York Times

So good marks for market practice; zero for the over-blown boasts.

The Guardian - Business

These findings not only had a profound impact on subsequent research but also changed market practice.

The Guardian - Business

These companies are independent of Phillips, and this is consistent with legal requirements and market practice".

The New York Times - Arts

Hands said it might be improper but it was market practice.

The Guardian

Human-verified similar examples from authoritative sources

Similar Expressions

15 human-written examples

"Changes in market practices cannot happen overnight," the F.S.B. said.

The New York Times

It could also support the adoption of global standards in market practices and regulations.

The New York Times

"Poor judgment and poor market practices led to mistakes by all participants".

The New York Times

The government adopted conventional standard market practices built up over time.

The Guardian - Business

It's a story involving bubbly prices, lax regulation and shady market practices.

Huffington Post

Expert writing Tips

Best practice

When discussing ethical considerations in business, use "market practice" to refer to accepted but potentially questionable behaviors to encourage critical evaluation.

Common error

Avoid assuming that "market practice" automatically equates to "best practice". "Market practice" simply describes what is commonly done, while "best practice" indicates the most effective or ethical approach, which may differ.

Linguistic Context

The phrase "market practice" functions as a noun phrase, typically acting as a subject or object within a sentence. It refers to the standard, accepted, or customary ways of conducting business or operations within a specific market or industry. According to Ludwig AI, the phrase is grammatically correct and widely used.

Expression frequency: Common

Frequent in

News & Media

47%

Science

35%

Formal & Business

18%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

The phrase "market practice" is a grammatically sound and commonly used noun phrase referring to the standard or customary ways of operating within a particular market. As Ludwig AI confirms, the phrase is correct and readily applicable. While its register is generally neutral, it tends to appear more frequently in contexts such as news, science, and formal business settings. Related phrases like "industry standard" or "commercial norm" can offer similar meanings with subtle nuances. When using the phrase, be mindful of distinguishing it from "best practice" and critically evaluate whether established practices are necessarily ethical or optimal. Several authoritative sources, including The New York Times and The Guardian, employ this phrase, affirming its widespread acceptance and relevance.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

industry standard

Focuses on the generally accepted norms within a specific industry.

commercial norm

Emphasizes the typical practices within the business world.

business convention

Highlights established customs in business dealings.

established procedure

Refers to a set way of doing things, often formally documented.

customary method

Highlights that a method is usual or traditional.

prevailing approach

Suggests the most common or dominant method used.

standard operating procedure

Implies a well-defined and documented process.

accepted practice

Emphasizes that a practice is widely approved or tolerated.

common practice

Highlights the frequency of a specific practice.

typical method

Highlights the usual or expected way of doing things in the market.

FAQs

How is "market practice" used in legal contexts?

In legal contexts, "market practice" often refers to the customary methods and standards within a specific industry or market. It can be used as a benchmark to assess whether certain behaviors are reasonable or negligent. However, it's important to remember that simply following "common practice" doesn't automatically guarantee legal compliance.

What can I say instead of "market practice"?

You can use alternatives like "industry standard", "commercial norm", or "accepted practice" depending on the specific context.

Is "market practice" always ethical?

No, "market practice" isn't always ethical. It simply reflects what's commonly done in a market, regardless of whether those practices align with ethical principles. Just because something is "common practice" doesn't automatically make it ethical.

What's the difference between "market practice" and "best practice"?

"Market practice" refers to the usual ways of doing things in a particular market, while "best practice" signifies the most effective and ethical methods. "Market practice" describes what is, while "best practice" describes what should be.