1.Selling of goods to consumers in small quantities as per their need at ________________________ prices. 2. Wholesalers act as a link between _________________ and the retailer. 3. A retail store deals primarily with sales ____________________ in retailing. (a) volume (b) location (c) places (d) value 4. The term ‘wholesale’ means the selling of goods for business use or for ________________ purpose. (a) sale (b) resale (c) post sale (d) None of the above 5. The term ‘retailing’ refers to a business deal in which the seller sells in large quantities as per the need of the customer. (T/F) 6. What do you understand by the term ‘Retail’? 7.What are the essential requirements of a retailer? 8. List down the retailer’s services to the customer.
Question
1.Selling of goods to consumers in small quantities as per their need at ________________________ prices. 2. Wholesalers act as a link between _________________ and the retailer. 3. A retail store deals primarily with sales ____________________ in retailing. (a) volume (b) location (c) places (d) value 4. The term ‘wholesale’ means the selling of goods for business use or for ________________ purpose. (a) sale (b) resale (c) post sale (d) None of the above 5. The term ‘retailing’ refers to a business deal in which the seller sells in large quantities as per the need of the customer. (T/F) 6. What do you understand by the term ‘Retail’? 7.What are the essential requirements of a retailer? 8. List down the retailer’s services to the customer.
Solution
- Selling of goods to consumers in small quantities as per their need at competitive prices.
- Wholesalers act as a link between manufacturers and the retailer.
- A retail store deals primarily with sales volume in retailing.
- The term ‘wholesale’ means the selling of goods for business use or for resale purpose.
- The term ‘retailing’ refers to a business deal in which the seller sells in large quantities as per the need of the customer. (False)
- The term 'Retail' refers to the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain.
- The essential requirements of a retailer include a good location, a wide range of products, good customer service, and competitive pricing.
- The retailer’s services to the customer include providing a wide range of products, offering competitive prices, providing product information, and offering after-sales service.
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