What are the elements of a market transaction explain the, Marketing Management

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What are the elements of a market transaction explain the

1. What are the characteristics of a buyer's market and a seller's market?

2. What is a market transaction?

3. What are the elements of a market transaction?

4. Explain the benefits and the costs resulting from a transaction.

5. What is the difference between a buyer's perspective and a sellser's perspective?

6. Explain the conditions for the emergence of a transaction.

7. What is a market process?

8. Describe the terms "innovation" and "imitation."

9. Explain the elements of a competitive advantage.

10. Describe the causes of competitive advantages?

11. Describe the terms "efficiency" and "effectiveness."

12. Explain the connections between effectiveness with seller advantage and effi- ciency with buyer advantage.

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