<b>exploit</b>
n : a notable achievement: "the book was her finest effort" [syn: <a href="http://www.dictionary.com/cgi-bin/dict.pl?term=deed">deed</a>, <a href="http://www.dictionary.com/cgi-bin/dict.pl?term=feat">feat</a>, <a href="http://www.dictionary.com/cgi-bin/dict.pl?term=effort">effort</a>] v 1: use to one's advantage; "He exploit the new taxation system" 2: draw from; make good use of (resources) [syn: <a href="http://www.dictionary.com/cgi-bin/dict.pl?term=tap">tap</a>] 3: work excessively hard [syn: <a href="http://www.dictionary.com/cgi-bin/dict.pl?term=overwork">overwork</a>]
As in, by selling services or products that people <b>need</b>, a company is making good use of that need - i.e., by making money on it.
He <b>is</b> right about the word, though like I said, I'd personally not use it in this instance. But when we take semantics into consideration, he's absolutely right -- even if the situation <b>is</b> mutually beneficial.