The idea that people give up something in order to receive something that they would rather have is a key ingredient in marketing.What is this called?
A) exchange
B) synergy
C) reciprocity
D) promotion

Question

Quizplus · Accepted Answer

This is called an exchange, which is a fundamental concept in marketing. It involves giving up something of value (money, time, effort, etc.) in return for something perceived to have greater value (a product, service, experience, etc.).

Option B (synergy) refers to the combined effect that results when two or more entities work together to achieve something greater than they could on their own, and is not directly related to the concept of giving something up to receive something in return.

Option C (reciprocity) refers to the social norm of responding to a positive action with another positive action, and is often used in marketing as a way to cultivate long-term relationships with customers. However, it does not specifically involve the idea of giving up something to receive something else in return.

Option D (promotion) refers to any type of advertising or marketing communication used to promote a product, service, or brand, and does not specifically relate to the concept of exchange.

The Idea That People Give Up Something in Order to Receive