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Exchange Theory of Communication views communication as a process of social exchange in which individuals seek to maximize benefits and minimize costs in their interactions. In retail management, this theory can be effectively applied to understand and improve interactions between retailers, sales staff, and customers. Retail interactions are not merely transactional; they involve an exchange of information, emotions, trust, value, and long-term relationship potential. In a retail setting, customers evaluate the perceived benefits and costs before engaging in a purchase. Benefits may include product quality, price __________ ________ ______ __________ _________ _____ _____ _______.
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