Customers pay money for products they believe will satisfy their needs and wants. What term refers to this transfer of money for goods or services?

Question

Quizplus · Accepted Answer

The term that refers to the transfer of money for goods or services is exchange. Option A, benefit gratification, is not a commonly used term in marketing. Option B, consumption, refers to the use of goods or services after they have been acquired. Option C, transformational marketing, refers to a marketing approach that seeks to create an emotional and meaningful connection between the customer and the brand. While important in marketing, it does not directly relate to the transfer of money for goods or services.

Customers Pay Money for Products They Believe Will Satisfy Their