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?

<p>By providing assistance with transport, storage, and advertising (D)</p> Signup and view all the answers

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

<p>Answering queries and providing additional information about products (A)</p> Signup and view all the answers

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

<p>To enable customers to buy now and pay later (B)</p> Signup and view all the answers

What does Phillip Kotler define as retailing?

<p>Selling goods or services to final consumers for personal, non-business use (A)</p> Signup and view all the answers

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

<p>Balancing the demands of manufacturers and wholesalers (D)</p> Signup and view all the answers

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

<p>To reduce transportation costs (D)</p> Signup and view all the answers

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

<p>Tailoring large cartons into smaller quantities for individual consumption (A)</p> Signup and view all the answers

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

<p>Retailing (D)</p> Signup and view all the answers

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

<p>By buying goods from few sources (C)</p> Signup and view all the answers

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