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Exchange Theory of Communication in retail interactions focuses on the idea that communication between the retailer and the customer is based on an exchange of value. In retail management, communication is not merely the transfer of information but a process in which both parties seek benefits from the interaction. The retailer provides information, service, products, and assistance, while the customer provides attention, trust, feedback, and ultimately purchases. Effective retail communication ensures that both sides perceive the exchange as beneficial. In retail settings, the application of exchange theory begins with understanding customer needs and expectations. Retailers must communicate in a way that highlights the value of their products and services while also acknowledging the customer’s preferences. For example, a salesperson interacts with a customer by explaining product features, quality, price, and benefits. This communication creates a perceived value for _________ ________ __________ __________ ______ ________ _______ ________ __________.
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