Traditional Marketing Perspective

Question: Which perspective do you agree with? Why? Answer: Out of both the perspectives, I personally agree with the traditional marketing perspective of products being the basis for economic exchange and services being the secondary benefit which is associated with the tangible products. The whole basis for the economic exchange is the exchange of monetary resources to satisfy particular needs or requirements (Vissa, 2012). The individuals involved in the exchange process, start the purchase decision making process based on their needs and requirements. This in turn leads them to find the possible sellers present in the corresponding market along with the possible alternatives of the corresponding product. The third stage in the buying decision making process suggests that the buyer weighs all the possible alternatives present in the corresponding market in terms of their capabilities of satisfying his or her needs or requirements (Shore, 2006). This suggests that the major objective of the financial transaction is the satisfaction of the n eeds through the usage of the materialistic product. The fourth stage of the buying decision making process allows the buyer to analyze the decision of choosing the product over the alternatives and buying it. Thus the entire process of making the buying decision of the buyer is based on the satisfaction of his or her needs. After the purchase of the products, the organizations provide various services to the customers to maintain their satisfaction of the product. Hence the products are the basis for the economic exchange and the services are the secondary benefits associated with them to enhance their usage experience (Mitchell, 2012). References Mitchell, J. R., Mitchell, R. K., Mitchell, B. T., Alvarez, S. (2012). OPPORTUNITY CREATION, UNDERLYING CONDITIONS AND ECONOMIC EXCHANGE. Shore, L. M., Tetrick, L. E., Lynch, P., Barksdale, K. (2006). Social and economic exchange: Construct development and validation. Journal of Applied Social Psychology, 36(4), 837-867. Vissa, B. (2012). Agency in action: Entrepreneurs' networking style and initiation of economic exchange. Organization Science, 23(2), 492-510.