Q47
The act of trading a desired product or service to receive something of value in return is known as which key concept in marketing?
A.
Product
B.
Exchange
AnswerC.
Production
D.
Customer
Answer: Option B
Solution
Answer: Option B
Solution:
The act of trading a desired product or service to receive something of value in return is known as Exchange key concept in marketing. Marketing involve exchange of a product between a saller and a buyer usually based on money. But modern marketing is not merely an exchange operation.