Explain the term- market exchanges, Marketing Management

Explain the term- Market exchanges

Market exchanges (Bagozzi, 1978; Houston and Gassenheimer, 1987) are transactions which occur independently of any previous or subsequent exchanges. They have a short-term orientation and are motivated mainly by self-interest. When a consumer purchases a bag of Walkers Crisps, a brand they don't buy regularly then a market exchange can be identified.

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