THE EXCHANGE RELATIONSHIP

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[Date of Submission]

The Exchange Relationship

Introduction

The Exchange Relationship is the relationship between the organization and the consumer based on the exchange of goods and services for its equivalent of monetary value. Hard sell products or those products which are not easy sell refer to the products which the consumers don't wish to buy normally.

“Market for a given product is fragmented into several distinct market segments, [and] each segment contains people, homogenous in their needs, want, and product benefit they seek” (Mullins & Walker, 2010, p.13).

Regarding marketing and product selling that each product is not something that can be sold easily to everyone and at every time. Some of them merit extra creativity and effort in order to sell them to reluctant customers. That is why creativity and understanding of the perspective of the consumer is of vital importance if one aims to sell such product.

Discussion

Companies who market such products that are hard sell like funeral services, diabetic equipment, cigarettes, life insurance have to face a number of issues which through strategic marketing management the selling party would determine and try to resolve through determining the right target market for its product (Mullins & Walker, 2010, p.13).

Some of the issues that are faced by such sellers include

Understanding which of the consumer wants, and needs, are not being satisfied by the competition?

Understanding of the desired choice criteria, and benefits, and their variation between the potential consumers, and identifying the new market segment by demographics or psychographics like as sex, age, lifestyle, etc.

The identification of the benefits that are relevant to the chosen demographics, i.e. age, sex, life-style, and numerous other qualities

Lastly the product should be positioned in such a manner that it gains a competitive advantage

Thus the markets segment when the consumers are inclined towards their pre-determined set of ...