Which of the following best describes transaction management in business?

Transaction management in business primarily revolves around the effective handling of exchanges between a business and its customers, which naturally includes the financial aspects of these transactions. The correct answer highlights the fundamental objective of managing transactions: to build and promote products not just to meet customer needs but also to cover operational costs and generate profits. This is crucial for the sustainability of any business.

Transaction management encompasses elements such as inventory management, pricing strategies, sales processes, and customer interactions, all of which are aimed at ensuring that every transaction contributes positively to the bottom line. Through these actions, businesses ensure they remain viable and competitive in their markets.

The other options, while related to aspects of business management, do not encapsulate transaction management as effectively. For example, creating personalized marketing strategies focuses on targeting specific customer segments but doesn't directly address the transactional aspect. Enhancing customer service may improve satisfaction and retention, but it does not inherently relate to the core activities of managing transactions. Establishing a social media presence is more about marketing and brand visibility rather than the direct management of transactions that affect the financial health of the business.