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13 October, 12:29

To have an effective marketing exchange process, you must make sure it involves a customer, a provider, a product, and a:

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  1. 13 October, 12:44
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    Transaction

    Explanation:

    Marketing exchange process refers to a process wherein two or more individuals buy or sell a good. Exchange refers to the consideration which is paid in return for the product i. e money.

    For any exchange to take place it is essential that the good is transacted.

    Customer would be the one who requires the product or the ones who create a want.

    A Provider is the one who satisfies a want or say the one who makes the product available.

    Product is the bundle of utilities or attributes which satisfies a want.

    Transaction is effected when the buyer gets the product and the seller gets paid for the product.
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