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Home→The Westburn Dictionary of Marketing→E→exchange

exchange

Definition:
An action of transferring ownership of a product or service to another in return for another object deemed to be equivalent in value by the recipient. Although both parties will only agree to exchange on the basis of equivalent value, they both believe they will increase the value of their assets.

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [A. J. Brown and Michael J. Baker], [1998].