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Retail Operations and Customer Experience

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Retail Operations and Customer Experience

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Questions and Answers

What is one of the benefits of retailers holding stock for manufacturers?

Increasing inventory carrying costs for consumers

Reducing product variety for consumers

Causing delays in delivery to consumers

Stabilizing prices by regulating production (correct)

How do retailers serve as a channel of communication between suppliers and consumers?

By conveying sales forecasts and customer complaints (correct)

By increasing advertisement costs for manufacturers

By restricting the display of products in stores

By providing limited information about products to shoppers

What additional services do retailers offer to add value to products?

Offering product guarantees and after-sales service (correct)

Increasing prices drastically for the customers

Delaying order processing and delivery

Providing poor after-sales service

How does a retailer help small manufacturers in terms of transport and advertising functions?

By providing assistance with transport, storage, and advertising Signup and view all the answers

What role do salespeople play in the services offered by retailers?

Answering queries and providing additional information about products Signup and view all the answers

Why do retailers offer credit and hire-purchase facilities to customers?

To enable customers to buy now and pay later Signup and view all the answers

What does Phillip Kotler define as retailing?

Selling goods or services to final consumers for personal, non-business use Signup and view all the answers

What is one of the functions of a retailer according to the text?

Balancing the demands of manufacturers and wholesalers Signup and view all the answers

Why do manufacturers and wholesalers typically ship large cartons of products?

To reduce transportation costs Signup and view all the answers

In retailing, what does 'breaking bulk' refer to?

Tailoring large cartons into smaller quantities for individual consumption Signup and view all the answers

What is the primary source of sales volume for a retailer?

Retailing Signup and view all the answers

How do retailers help in reducing costs according to the text?

By buying goods from few sources Signup and view all the answers