Question

'A market means a process of exchange.' - Explain.​

Answer 1

Answer:

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An exchange process is simply when an individual or an organisation decides to satisfy a need or want by offering some money or goods or services in exchange.

• It's that simple, and you enter into exchange relationships all the time. The exchange process extends into relationship marketing.

Answer 2

Answer:

A marketing exchange is what happens any time two or more people trade goods or services. In marketing theory, every exchange is supposed to produce "utility," which means the value of what you trade is less than the value of what you receive from the trade.