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1. Describe the nature of the 'exchange process' which marketing facilitates in up to 100 words. The 'exchange process' is seen as the basic principle of marketing and involves the simple concept of needs and demands. In the world of marketing this can be any organization offering a product, service or even an idea. The customer then agrees to pay an amount of money for these goods. The whole exchange process works under the important condition that both parties value the goods offered by the other party to that extent that they are willing to fulfil the demands of the other party in return. The satisfaction gained from a transaction can lead to further purchases. 2. Explain how the pet food market is structured. Describe how a number of local outlets support this structure. The pet food market is structured into three main sectors, which consists of Dog food, Cat food and other pet food....

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