1560s, "buying and selling, act of transacting business in a market," verbal noun from market (v.). Meaning "produce bought or sold at a market" is from 1701. The business sense, "process of moving goods from producer to consumer with emphasis on advertising and sales," is attested by 1897.
1961, from Italian Paparazzo (plural paparazzi) surname of the freelance photographer in Federico Fellini's 1959 film "La Dolce Vita." The surname itself is of no special significance in the film; it is said to be a common one in Calabria, and Fellini is said to have borrowed it from a travel book, "By the Ionian Sea," in which occurs the name of hotel owner Coriolano Paparazzo.