12 Questions
What is one of the benefits of retailers holding stock for manufacturers?
Stabilizing prices by regulating production
How do retailers serve as a channel of communication between suppliers and consumers?
By conveying sales forecasts and customer complaints
What additional services do retailers offer to add value to products?
Offering product guarantees and 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
What role do salespeople play in the services offered by retailers?
Answering queries and providing additional information about products
Why do retailers offer credit and hire-purchase facilities to customers?
To enable customers to buy now and pay later
What does Phillip Kotler define as retailing?
Selling goods or services to final consumers for personal, non-business use
What is one of the functions of a retailer according to the text?
Balancing the demands of manufacturers and wholesalers
Why do manufacturers and wholesalers typically ship large cartons of products?
To reduce transportation costs
In retailing, what does 'breaking bulk' refer to?
Tailoring large cartons into smaller quantities for individual consumption
What is the primary source of sales volume for a retailer?
Retailing
How do retailers help in reducing costs according to the text?
By buying goods from few sources
Explore the world of retail operations which now includes selling both goods and services to the end consumer. Learn how customer delight plays a crucial role in redefining retailing as the first point of contact with the consumer.
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