3. What is retailing?
Retailing can bedefined asthebuying and selling of goods
and services. It can also bedefined asthetimely delivery of
goodsand servicesdemanded by consumersat pricesthat are
competitiveand affordable.
Theterm 'retail' isderived from theFrench word retailer which
means'to cut apieceoff or to break bulk'. In simpleterms, it
impliesafirst-hand transaction with the
customer.
4. Functions of retailer
1. Buying
2. Storage
3. Selling
4. Grading and packing
5. Risk-bearing
6. Transportation
7. Financing
8. Salespromotion
9. Information
5. TheAdvantagesof Retail Marketing
Personal Interaction
Real-TimeControl
SeriousCustomers
Createseconomic utility
Yieldsbenefit for consumers, manufactures
and wholesalers
14. What iswholesaling?
Wholesaling isadistribution channel function
whereoneorganization buysproductsfrom
supplying firmswith theprimary intention of
redistributing to other organizations(but, in
general, not to thefinal consumer).