The Act Of Trading A Desired Product Or Service To Receive Something Of Value In Return Is Known As Which Key Concept In Marketing?
Definition Of Exchange In Marketing The correct answer is b. “exchange”, as Exchange Is The Backbone Of Marketing . Without exchange, the ultimate Purpose Of Marketing can’t be achieved. Marketing is the way to persuade customers to buy goods or services, to create superior customer value and satisfy customers needs, wants and demand in return. The process of marketing will not be completed if the exchange does not take place between two parties who are not agreed to make deals with each other. If the company get return but the customers are not satisfied with the quality of products or services, then exchange process will fail. So, to make a successful trading between the company and customers, both parties must be satisfied at the end. In that way, a successful exchange takes place between the company and the customer. For example, if a company sold a product to a customer at a fair return and customers are satisfied with the quality of product and willing to pay the price, the...