The correct answer is option 2- Marketing.
Exchange mechanism is related with Marketing.
The process of marketing works through the exchange mechanism. The individuals (buyers and sellers) obtain what they need and want through the process of exchange. In other words, the process of marketing involves exchange of products and services for money or something considered valuable by the people.
OTHER OPTIONS
- Advertising is the most commonly used tool of promotion. It is an impersonal form of communication, which is paid for by the marketers (Sponsors) to promote some goods or service.
- Branding- If products were sold by generic names, it would be very difficult for the marketers to distinguish their products from that of their competitors. Thus, most marketers give a name to their product, which helps in identifying and distinguishing their products from the competitors’ products. This process of giving a name or a sign or a symbol etc., to a product is called branding.
- Publicity is similar to advertising, in the sense that it is a non-personal form of communication. However, as against advertising it is a non paid form of communication. Publicity generally takes place when favourable news is presented in the mass media about a product or service. In publicity, as the information is disseminated by an independent source, e.g., the press in the form of news stories and features, the message has more credibility than if that comes as a sponsored message in advertising.
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