SESSION 9LEGAL ENVIRONMENT OF       BUSINESS                       1
RETAIL INTERMEDIARIES & THEIR          FUNCTIONS                                2
DEALERSIndividual or firm that buys goods from aproducer or distributor for wholesale and/orretail resellingUnlike a dis...
DISTRIBUTORSAn entity that buys noncompeting products orproduct lines, warehouses them, and resells themto retailers or d...
WHOLESALERSPerson or firm that buys large quantity of goodsfrom various producers or vendors, warehousesthem, and resells...
BUYING AGENTIndividual or firm that locates supplies at bestprices and terms, and (if required) warehouses orconsolidates ...
SELLING AGENTSelling agent or sales agenta person/firm who renders sales services to themanufacturer or the suppliermay...
RETAILERSRetail     : Derived from the French word“retaillier” = to cut off a piece or to break bulkRetailer : A busines...
RETAILERSRetailing  all activities involved in the marketingof goods and services directly to the consumersfor their pers...
RETAIL : THE INDUSTRYLargest private industry in the worldIn Western economy it accounts for 8% of GDPHas generated a 1...
RETAIL : THE INDUSTRYAlmost 50 retail organizations in the world featurein the list of Fortune 500 companies.The world o...
Functions of a RETAILER From customers point of view, retailer serves by    providing goods that he needs in the required...
Functions of a RETAILER1. Provides finished goods and services in the form    that is acceptable to the customer2. The ret...
Functions of a RETAILER4. By being available at a convenient location he   creates place utility5. Finally when the produc...
Functions of a RETAILERAll these are real benefits which the Retailer offers by: Being close to potential customers Full...
Functions of a RETAILERThe Retailer also serves the manufacturers by: Performing the function of distributing the    good...
buying selling                       dealer distributor wholesalers agents agents retailerstakes the title ofthe goodsprov...
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Session 9 leb

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Session 9 leb

  1. 1. SESSION 9LEGAL ENVIRONMENT OF BUSINESS 1
  2. 2. RETAIL INTERMEDIARIES & THEIR FUNCTIONS 2
  3. 3. DEALERSIndividual or firm that buys goods from aproducer or distributor for wholesale and/orretail resellingUnlike a distributor, a dealer is a principal andnot an agent 3
  4. 4. DISTRIBUTORSAn entity that buys noncompeting products orproduct lines, warehouses them, and resells themto retailers or direct to consumersprovide strong manpower and cash support tothe supplier or manufacturers promotional effortsusually also provide productinformation, estimates, technical support, after-sales services, credit to the customers 4
  5. 5. WHOLESALERSPerson or firm that buys large quantity of goodsfrom various producers or vendors, warehousesthem, and resells to retailersWholesalers who carry only non-competinggoods or lines are called Distributors 5
  6. 6. BUYING AGENTIndividual or firm that locates supplies at bestprices and terms, and (if required) warehouses orconsolidates them as one shipment on behalf ofa local or foreign buyer 6
  7. 7. SELLING AGENTSelling agent or sales agenta person/firm who renders sales services to themanufacturer or the suppliermay provide support in terms ofmarketing, promotion, and other allied activities 7
  8. 8. RETAILERSRetail : Derived from the French word“retaillier” = to cut off a piece or to break bulkRetailer : A business or person that sells goodsto the consumer, as opposed to a wholesaler orsupplier, who normally sell their goods to anotherbusinessRetailing : The last stage in movement of goodsor services to the consumer 8
  9. 9. RETAILERSRetailing  all activities involved in the marketingof goods and services directly to the consumersfor their personal, family or household use 9
  10. 10. RETAIL : THE INDUSTRYLargest private industry in the worldIn Western economy it accounts for 8% of GDPHas generated a 19% return for the shareholdersbetween 2004 - 06 where banks generated 9% andinsurance generated 15.2% returnLargest corporation in the world – Wal-Mart 10
  11. 11. RETAIL : THE INDUSTRYAlmost 50 retail organizations in the world featurein the list of Fortune 500 companies.The world over retail is not only the oldest butalso one of the most advanced user of technology. 11
  12. 12. Functions of a RETAILER From customers point of view, retailer serves by providing goods that he needs in the required assortment and at the right place and time. From an economic standpoint the role of a retailer is to provide real added value or utility to the customer. This comes from five different perspectives 12
  13. 13. Functions of a RETAILER1. Provides finished goods and services in the form that is acceptable to the customer2. The retailer performs the function of storing the goods, and providing us with an assortment of products in various categories3. The retailer creates time utility by keeping the store open when the consumers prefer to shop 13
  14. 14. Functions of a RETAILER4. By being available at a convenient location he creates place utility5. Finally when the products are sold ownership utility is created 14
  15. 15. Functions of a RETAILERAll these are real benefits which the Retailer offers by: Being close to potential customers Fully understanding the motivating factors that drive their customers By serving the consumers by way of functioning as a marketing intermediary and creating time, place and ownership utility 15
  16. 16. Functions of a RETAILERThe Retailer also serves the manufacturers by: Performing the function of distributing the goods to the end users Creating a channel of information from manufacturer to the consumer By serving as a final link in the distribution chain Recommending products where brand loyalty is not strong or for unbranded products 16
  17. 17. buying selling dealer distributor wholesalers agents agents retailerstakes the title ofthe goodsprovides creditprovidesmanpowerprovidespromitionalsupportprovides productinfoprovides estimatesprovides technicalsupportprovides after-salessupportwarehousingfacilityupstreamdownstream 17
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