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Foundations of Marketing 5th Edition by Ferrell,William Pride
Edition 5ISBN: 978-1111580162Foundations of Marketing 5th Edition by Ferrell,William Pride
Edition 5ISBN: 978-1111580162 Exercise 1
What conditions must exist before a marketing exchange can occur Describe a recent exchange in which you participated.
Explanation
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There exist a few conditions when a marketing exchange occurs.
• Two or more parties must be involved
• one should be the buyer and the other one is seller
• Each one of these should receive more value than what they trade
The exchange of goods or services will provide beneficial or satisfaction to those involved in the transaction. Each side involved should have confidence that the other will promise something of value to exchange. Once the exchange is done, all parties involved must meet expectations.
• Two or more parties must be involved
• one should be the buyer and the other one is seller
• Each one of these should receive more value than what they trade
The exchange of goods or services will provide beneficial or satisfaction to those involved in the transaction. Each side involved should have confidence that the other will promise something of value to exchange. Once the exchange is done, all parties involved must meet expectations.
Foundations of Marketing 5th Edition by Ferrell,William Pride
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