Transactions
Transactions refer to the exchanges that take place between a business and its customers. It is the process of buying or selling goods, services or even ideas with the goal of creating value for both parties. Within the framework of marketing, a transaction revolves around fulfilling consumer needs and wants. It starts with identifying potential customers and attracting their attention through marketing and advertising efforts. This can be done through advertising, promotional activities, content marketing and other strategies to capture the interest of consumers.
The timing of the transaction
When a consumer is interested in a company's offer, he proceeds to the purchase decision. This is when the actual transaction takes place. The company offers the product or service while the consumer makes the payment. After the transaction, however, the marketing process does not stop. It is important to provide good customer service, resolve any problems and build a good relationship with the customer. This can lead to repeat transactions and customer loyalty, which is essential to a company's long-term success.
