True Or False - Exchange Is The Backbone Of Marketing?

Exchange Is The Backbone Of Marketing
Which Is The Backbone Of Marketing? Briefly Explain.

The answer is "True", as exchange is the way through which the company offers something like quality products to its customers in return of price in order to satisfy, attract and capture customer value.

Exchange in marketing is the process of receiving and giving value between or among parties. Company provides customers satisfaction by offering goods and services and create customer value in exchange of return or money from customers.

Marketing is made to influence the customers but if the customers are not ready to buy the products or services, then exchange process can not be made and sales of the business declining day by day. Similarly, if the company ignores customers needs and wants and involved in Marketing Myopia, then customers are satisfied with the company products and services and ultimately the business is unable to create customer value in exchange and hence the business can't be grown.

On the hand, if there is customer need which is fulfilled by the company in time through marketing strategies and create superior customer value in return, then exchange process is successfully taken place and marketing's aims are achieved for which marketing strategies are adopted.

So, without exchange, marketing can't be successful and the company's marketing manager plans to attract and satisfy customers and get customers value in return will fail.

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