Big markets and small markets

I thought I'd create a topic based on the small market and big market discussion, given people have said in the past certain teams only succeed because they are in "big markets" others fail because they are in "small markets" how much relevance do people think big and small markets have? In terms of attracting players or top coaches etc how much relevance does the city or the market size have? Or is the term/difference between the markets with the luxury tax becoming outdated or more relevant than other with not all teams having rich owners? How much of an impact does being a big market over a small market play in the 21st century/2013 do people here think?