The act of trading a desired product or service to receive something of value in return is known as which key concept in marketing?

A. Product

B. Exchange

C. Production

D. Customer

Answer: Option B

Solution(By Examveda Team)

The act of trading a desired product or service to receive something of value in return is known as Exchange key concept in marketing. Marketing involve exchange of a product between a saller and a buyer usually based on money. But modern marketing is not merely an exchange operation.