BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Exchange refers to the process through which two or more parties come together to obtain the desired product or service from someone, offering the same by giving something in return.

Detailed explanation-2: -In marketing, the act of obtaining a desired object from someone by offering something of value in return is called the exchange process. The exchange involves: the customer (or buyer): a person or organization with a want or need who is willing to give money or some other personal resource to address this need.

Detailed explanation-3: -Bartering With Consumer Goods In its simplest form, bartering is the exchange of one valuable product for another between two individuals.

Detailed explanation-4: -Defining commerce Commerce is defined as the exchange of goods and services between two or more entities. It typically involves buying and selling things of value. Commerce can take place between businesses, between consumers, or between businesses and consumers.

Detailed explanation-5: -An exchange process is simply when an individual or an organisation decides to satisfy a need or want by offering some money or goods or services in exchange. It’s that simple, and you enter into exchange relationships all the time. The exchange process extends into relationship marketing.