The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?

Question

Hassan Faulkner

Business

6 March, 10:22

The concept of "exchange" is fundamental to the definition of marketing. What is the best description of exchange?

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Answers (1)

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Paul Duncan · Answer 1

Marketing exchange

Explanation:

A marketing exchange occurs whenever there is an interaction between two or more people to buy and sell goods or services. An exchange therefor occurs when an person or an organisation makes a decision to meet its need or want and he is ready to pay some money or offer commodities.

The marketing theory states that a utility ought to be derived from an exchange, an it is an indication that what you get from trade is more than you trade.