Question

Traditionally, marketing has been viewed as:
1. Complex exchange
2. radical exchange
3. simple exchange
4. dynamic exchange

Answer 1

Correct Answer - Option 3 : simple exchange

Traditionally, marketing has been viewed as a simple exchange.

Traditional Marketing:

• Marketing has existed since time immemorial.
• The traditional marketing concept is defined as " simple exchange of goods and services for some benefit".
• It is based on three concepts i.e customer orientation, integration of efforts, and profit objective. In this concept of marketing, all the efforts are directed towards the mere selling of goods in exchange for some profit.
• The merchants are simply involved in "changing of hands" from the sellers to the buyers. The buyers purchase these goods and services in exchange for some money. All the actions are integrated towards the production of higher quality goods for the purchase of selling to the ultimate customers.
• The producers have a "profit motive", where efforts are put into maximizing profits as much as possible. In this concept, customers' needs and wants are given a priority, hence it is sometimes also known as the "market-driven" concept.