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Social exchange theory views exchange as a social behavior that may result both in economic and social outcomes. [17] Social exchange theory has been generally analyzed by comparing human interactions with the marketplace. The study of the theory from the microeconomics perspective is attributed to Blau. [6]
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Service-dominant (S-D) logic, in behavioral economics, is an alternative theoretical framework for explaining value creation, through exchange, among configurations of actors.
Created Date: 8/30/2012 4:52:52 PM
That is to say, exchange theory argues that in a primitive society, reciprocity may be accompanied by an enhanced status or reputation while the sole intentionality for such exchange is survival. Generalized exchange theory believes that there is a social consensus out of commonly shared value or lifestyle that exchange does not require an ...
Applying the media engagement framework aids in the development and management of an effective online marketing presence leveraging social media to engage a market or audience. [6] By first personifying the audience, the marketer is able to identify the limiting aspect of the engagements possible with that audience segment and then, understand ...
Relationship marketing aims to strengthen the relationship with clients and secure them. Morgan and Hunt (1994) made a distinction between economic and social exchange on the basis of exchange theory and concluded that the basic guarantee of social exchange was the spirit of the contract of trust and commitment.
Exchange economy is technical term used in microeconomics research to describe interaction between several agents. In the market, the agent is the subject of exchange and the good is the object of exchange. Each agent brings his/her own endowment, and they can exchange products among them based on a price system. Two types of exchange economy ...