Exchange is the process of obtaining a desired product from someone by offering something in return. For exchange potential to exist, five conditions must be satisfied:
(1)There are at least 2 parties,
(2)Each party has something that might be of value to the other party,
(3)Each party is capable of communication and delivery,
(4)Each party is free to accept or reject the exchange, and
(5)Each party believes it is appropriate or desirable to deal with the other party.
Reference:
BrainMass, retrieved fromhttp://brainmass.com/business/marketing/198067
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