Roles of Retailer - SS1 Economics Past Questions and Answers - page 1
What is the primary role of a retailer?
Purchasing goods from manufacturers
Selling goods to wholesalers
Providing transportation services
Selling goods directly to consumers
What is inventory management?
Purchasing products from wholesalers or manufacturers
Managing inventory levels to meet consumer demand
Using sales and marketing techniques to attract customers
Providing customer service to assist customers
What are sales and marketing?
Purchasing products from wholesalers or manufacturers
Managing inventory levels to meet consumer demand
Using sales and marketing techniques to attract customers
Providing customer service to assist customers
What is customer service?
Purchasing products from wholesalers or manufacturers
Managing inventory levels to meet consumer demand
Using sales and marketing techniques to attract customers
Providing assistance to customers with their purchases
What is physical store management?
Purchasing products from wholesalers or manufacturers
Managing inventory levels to meet consumer demand
Using sales and marketing techniques to attract customers
Managing the store environment, including store layout and product displays
What is the main difference between a retailer and a wholesaler?
A retailer sells products or services directly to consumers, while a wholesaler purchases products in bulk from manufacturers and sells them to retailers.
What is the role of sales and marketing in a retail business?
The role of sales and marketing in a retail business is to attract customers and generate sales through various techniques, such as advertising, promotions, and discounts.