Exchange is the action of acquiring a desired object from someone by offering them something in return.
Marketing occurs when people decide to satisfy their needs and wants through what’s called exchange relationship. In a vast sense, the marketer looks for a response to some type of market offering.
As a note, not all exchanges are based on purchases or trade. Market offering responses could include such ideas or things as a vote, membership, or audiences as in the case of a band performing for free in a park.« Back to Glossary Index