Basic Marketing Principles & Processes Applied to Sport
Exchange Process
- Marketing transaction in which the buyer gives something of value to the seller in return for goods and services
- must be at least 2 parties
- each party must have something of value to offer the other
- must be a means for communication between the 2 (or more) parties
- each party must be free to accept or decline the offer
- each party must feel that it is desirable to deal with the other(s)