Question 1. The competing concepts under which organizations have conducted marketing activities include: the production concept, product concept, selling concept, marketing concept, and holistic marketing concept. Evaluate the advantages and disadvantages of each concept. Which concept do you believe is the most effective? Why?
Question 2. Exchange is the process of obtaining a desired product from someone by offering something in return. For exchange potential to exist, five conditions must be satisfied: (1) there are at least 2 parties, (2) each party has something that might be of value to the other party, (3) each party is capable of communication and delivery, (4) each party is free to accept or reject the exchange, and (5) each party believes it is appropriate or desirable to deal with the other party.
Taking the tenets of exchange, apply these collectively and describe an exchange where you left the process feeling like a valued customer. What were the tangible/intangible benefits of the exchange?