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Exchange Definition and Explanation PDF Download

Learn Exchange definition in marketing with explanation to study “What is Exchange”. Study exchange explanation with marketing terms to review marketing course for online MBA programs.

Exchange Definitions:

  1. Act of obtaining a desired object from someone by offering something in return.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



  2. Process of obtaining a desired product from someone by offering something in return.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Exchange Explanation:

It is a process in which an organization or an individual takes decision to fulfill a need and demand of the customer by offering them some money or services in exchange. Is it the simple process that helps you to enter in an exchange relationship with the market, where it tends to turn into relationship marketing.

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