Case Study. For your better understanding, let us practice how to create any giv
ID: 455271 • Letter: C
Question
Case Study. For your better understanding, let us practice how to create any give-and-take exchange activities using five key building blocks of marketing. Read the following marketing case and consider your creative ways to create any exchange activities between sellers and buyers for marketing purpose. At chobani, the Turkish Kling of Greek Yogurt Hamdi Ulukaya sits in a restaurant in upstate New York, waggling a rolled up slice of pizza, making bombastic pronouncements about yogurt. As the founder and chief executive of Chobani, the brand of Greek yougurt that has stormed the stainless steel refrigerators of coconut water and ancient grain eaters, he has some standing in the matter, although he's actually Turkish. The yogurt that most Americans ate for decades was a travesty, in his view, too thin, too sweet. Too fake. So horrible, "he says in his Turkish accent, his eyes bright against face. "Terrible." As he sees it, we were all snoolered by big food companies that cared little for our taste buds or health. Greek yogurt's high protein content makes it more filling, and it contains little or no fat. His doesn't have preservatives, either. There is no reason for us to put preservatives in the food."Ulukaya says. I would say to the big guys, watch out. You'd better change your ways. The consumer knows now, and the consumer will punish you if you don't do the right thing."Explanation / Answer
The concept of exchange is simpler in economic terms. Exchange refers to the sale and purchase of goods & services. Every individual engages in exchange activity every day. Marketing is simply the process of buying and selling. Customers buy commodities that meet their needs and wants resulting in the exchange process. Selling involves tricks and techniques of getting the customers to exchange their cash for the customer's products.
The primary step in the exchange process is provide a commodity. Commodities can be of various types: goods , services and ideas. The commodities are produced to satisfy the demands of customers.
The second step is the commencement of satisfaction in the exchange process. Exchange happens when a customer buys a product from a seller in return for something known as consideration. Consideration takes the form of money. For an exchange to take place, following conditions must be met:
a) There must be 2 parties in the exchange process, i.e. buyer and seller.
b) Each party must offer something of value to the other. Seller offers goods & services and buyers offer money in exchange of goods & services.
c) Both the parties are willing to deal with each other.
d) Both the parties have the right to accept or reject the offer.
e) Both the parties have the ability to communicate and deliver on the mutual agreement.
The marketing team is responsible to generate revenues and profits through exchange process.