The exchange process

Traditionally, the exchange process would be initiated by the seller, who will attempt to satisfy the demands of the buyer either by producing goods and services that explicitly meet the buyer's needs or by aggressive sales and communications campaigns designed to persuade the buyer to purchase a particular product or service. However, in recent years, the nature of interactions between buyers and sellers, who form an important part of the exchange process, have been changing. Blenkhorn and Banting (1991) discussed the concept of reverse marketing in the mid-1980s. In the reverse marketing scenario, the buyer initiates the exchange process by making the seller aware of his purchasing requirements and in doing so changes the nature of the relationship as there is potentially more buyer involvement at earlier stages, i.e. input at product development stage. Online it is not only the direction of the motivation to purchase that is changing but also the number and type of partners engaging in the exchange process and the structure of the supply chain.

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