Mkt/421 Week 1

Week 1’s question asked how marketers can identify the parties to an exchange and the value they receive. I examined how marketers identified the parties by assessing the five conditions of a Marketing Exchange. I also outlined how Consumer Behaviour can identify value received; by analysing the decision-making process and understanding which decision-making state is in use and what type of value the customer is seeking.

Angela demonstrated perception of value by detailing her own experience as a sales representative for Optus. She explained that customer's geographical location dictated Optus’ offered products and specials; as it is a signifier of their value perception. This was helpful for my understanding of how perception of value varies, by putting the theory into a real marketing context.

I documented how there are three types of exchange; with Generalised and Complex exchanges being non-dyadic, as they involve three or more parties. I illustrated how each differs; with a Generalised exchange involving each party receiving benefit from a party they do not benefit and a Complex exchange involving a level of benefit for each party, in an interrelated process. I concluded that an exchange between three or more parties, each party does not receive the same value, unlike a dyadic exchange.

Kieran explain generalised exchange by providing the example of a company hiring a delivery driver, who delivers the company’s product to customers. Kieran also demonstrated a complex exchange with the example of a company engaging a recruitment agency, who create a job advertisement, which allows job seekers to be inform about the opportunity and apply for the job with the