Marketing takes place when people decide to satisfy their needs and wants through exchange relationships. Exchange is an act of obtaining a desired object from someone by offering something in return. In the exchange process, there must be two or more parties involved like individuals or organizations. Each of these parties must have
valuable offer to satisfy the needs and wants of the other party. The exchange process is a voluntary process while parties communicate with each other. On one side of the exchange process, there is marketer and on the other side is the market. Marketer may offer something like a product, a service or an idea to the market. Market includes a group of current and potantial customers where any company that offers goods and services is called a marketer.