BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product
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Exchange
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Production
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Customer
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Detailed explanation-1: -In marketing, the act of obtaining a desired object from someone by offering something of value in return is called the exchange process.
Detailed explanation-2: -Barter is an act of trading goods or services between two or more parties without the use of money-or a monetary medium, such as a credit card. In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party.
Detailed explanation-3: -Pricing is the act of determining the value of a product or service. Pricing determines the cost paid by a customer, but it may or may not be tied to the cost paid by the business to produce the product or service.
Detailed explanation-4: -Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods.
Detailed explanation-5: -Bartering With Consumer Goods In its simplest form, bartering is the exchange of one valuable product for another between two individuals.