Questions: The activities buyers and sellers perform to facilitate mutually satisfying exchanges is termed

The activities buyers and sellers perform to facilitate mutually satisfying exchanges is termed
Transcript text: The activities buyers and sellers perform to facilitate mutually satisfying exchanges is termed
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Solution

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Answer

The answer is marketing.

Explanation
Option 1: Salesmanship

Salesmanship refers to the skills and techniques used by a salesperson to persuade customers to purchase products or services. While it is a part of the broader marketing process, it does not encompass all the activities involved in facilitating exchanges between buyers and sellers.

Option 2: Marketing

Marketing is the comprehensive term that includes all activities buyers and sellers perform to facilitate mutually satisfying exchanges. This includes market research, product development, pricing strategies, advertising, sales, and distribution. Marketing aims to understand customer needs and create value, ensuring that both parties benefit from the exchange.

Option 3: Business

Business is a broad term that refers to the practice of making one's living by engaging in commerce. It encompasses all activities involved in the production, distribution, and sale of goods and services. While marketing is a crucial component of business, the term "business" itself is too broad to specifically describe the activities aimed at facilitating exchanges.

Option 4: Commerce

Commerce refers to the activity of buying and selling, especially on a large scale. It includes trade and the exchange of goods and services. However, it does not specifically focus on the activities designed to facilitate mutually satisfying exchanges, which is the primary focus of marketing.

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