Question

Which of the following statements is correct with respect to ‘Exchange Mechanism’, a feature of Marketing?

विकल्प

• For an exchange, it is necessary that there should be involvement of atleast three parties.

• The parties do not have the freedom to reject other parties offer.

• The acceptance of the offer for each party has to take place on the basis of compulsion.

• For an exchange, it is necessary that each party should be capable of offering something of value to the other.

Answer 1

For an exchange, it is necessary that each party should be capable of offering something of value to the other.

Explanation:

When people buy something from each other, they share something of value. This is called the exchange mechanism in marketing. There is only a transaction when both sides see value in the exchange.