ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Marketing is the process of creating, pricing, distributing, and promoting goods, services, and ideas to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

Detailed explanation-2: -Marketing is the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.

Detailed explanation-3: -The objective of a marketing exchange is to receive something that is desired more than what is given up to get it. In other words, it involves a reward in excess of costs. Fourth, the parties involved in the exchange must be able to communicate with each other in order to make their something of value available.

Detailed explanation-4: -In general, there are three types of exchange: restricted, generalized, and complex.

Detailed explanation-5: -For an exchange to take place certain conditions must be met: There must be at least two parties. Each must have something that might be of value to the other. Each can communicate and deliver what they are offering.