The traditional representation of a market, with the curves of supply and demand reflects potential transactions: for each price, we can derive the quantity that would be offered or asked. The actual transactions only occur at the market price, but ignoring all other intentions is too restrictive to define a market.
For example, stock exchanges often give the possibility to agents to express their intentions (that is, the quantity they would offer or buy for a certain price) about a particular security, which will form the bid (supply) and the ask (demand). Even if the ask and the bid never meet, there is still a market as people are willing to exchange goods, though they cannot find an acceptable compromise.