What term describes a mutual agreement between two companies to purchase each other's products?

The term that describes a mutual agreement between two companies to purchase each other's products is reciprocity. This concept involves a cooperative relationship where each party agrees to support the other by buying their products or services.

Reciprocity can create a win-win situation for both companies, helping them to enhance their business relationships while potentially improving their market competitiveness. This practice is often seen in B2B (business-to-business) environments, where companies recognize the benefits of supporting one another's businesses, which can lead to increased loyalty and long-term partnerships.

While mutual exchange, partnership, and joint venture may sound similar, they differ in specifics. Mutual exchange implies a simple exchange without the structured agreement that reciprocity entails. A partnership typically indicates a more formalized business relationship that may include shared ownership or operational control, which is broader than just product swapping. A joint venture refers to a collaboration where two companies create a separate entity to work on specific projects or achieve certain goals, which is distinct from simply purchasing each other's goods.