Marketing as an Organized Behavioral System of Exchange

E XCHANGE has been proposed by a number of marketing scholars as a fundamental framework for viewing marketing. Yet little has been proposed in the way of theory-and even less has materialized in the realm of applications -for using the exchange orientation. As others have emphasized, theory is built on propositions which, in turn, are comprised of sequences and relationships among concepts.1 In order to develop a general theory of marketing based on exchange, one must by necessity begin with well-formed concepts and variables and relate these in causal or logical deductive structures.2 This article has two specific goals. The first objective is to define the core concepts in the exchange paradigm. The second is to introduce the notion of an exchange system as a conceptual framework useful for generating theory in marketing. Overall, the purpose is to define marketing as the process of creating and resolving exchange relationships.