Match each definition to the corresponding term.
-The _____ occurs when two or more parties exchange something of value.
A)utility
B)buzz marketing
C)exchange process
D)seller's market
E)buyer's market
F)marketing myopia
G)social responsibility
H)relationship marketing
I)person marketing
J)place marketing
K)event marketing
L)organization marketing
M)interactive marketing
N)lifetime value of a customer
O)social marketing
P)one-to-one marketing
Q)strategic alliances
R)not-for-profit organizations
S)ethics
T)mobile marketing
U)wholesalers
V)transaction-based marketing

Question

Quizplus · Accepted Answer

The definition describes the exchange process, which is the fundamental concept in marketing.

Answer: V
 Transaction-based marketing refers to the exchange of goods or services for money, which is described in the definition.

Answer: N
 Lifetime value of a customer is the long-term worth of a customer to a company, which is not explicitly described in the definition but can be inferred from the concept of exchanging something of value.

Answer: U
 Wholesalers are intermediaries that buy and sell goods in bulk, which is not described in the definition.

Answer: S
 Ethics pertains to the moral principles that guide behavior, which is not described in the definition.

Match Each Definition to the Corresponding Term