Question

Mark goes to a vending machine, deposits $1.00, and receives a Sprite. Which one of the following aspects of the definition of marketing is illustrated here?

Answer 1

The aspect of the definition of marketing illustrated here is 'Exchange'.

Step-by-step explanation:

The aspect of the definition of marketing illustrated here is 'Exchange'.

In this scenario, Mark exchanges $1.00 for a Sprite at the vending machine. This transaction represents an exchange of value between the buyer (Mark) and the seller (vending machine operator).

Marketing, at its core, is about creating and facilitating exchanges between buyers and sellers. It involves identifying consumer needs and wants, developing products or services that satisfy those needs, and delivering them to the target market. The vending machine example illustrates this exchange process.

Additionally, marketing involves other aspects such as product development, pricing, promotion, and distribution. In the vending machine scenario, the product being sold is Sprite, the price is $1.00, and the distribution channel is the vending machine.