Which of the following are true with respect to exchange in marketing? (Check all that apply.)

Question

Multiple select question.

Sellers offer to exchange something that meets a need.

Marketing involves a willingness of at least two parties to engage in exchange.

Marketing can occur with one party.

A customer must exchange money for an exchange to occur.

Answer 1

Based on the principles of marketing and exchange, the following statements are true:

1. Sellers offer to exchange something that meets a need. - True. This is a fundamental aspect of marketing, where sellers provide goods or services that fulfill customer needs.

2. Marketing involves a willingness of at least two parties to engage in exchange. - True. For an exchange to take place, there need to be at least two parties willing to participate.

3. Marketing can occur with one party. - False. Marketing inherently involves an exchange process between at least two parties, even if one party (the seller) initiates it.

4. A customer must exchange money for an exchange to occur. - False. While money is a common medium of exchange, exchanges can also occur through barter or other forms of value exchange.

So, the true statements are the first two:

• Sellers offer to exchange something that meets a need.
• Marketing involves a willingness of at least two parties to engage in exchange.