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Merchandising Mathematics for Retailing 5th Edition by Cynthia Easterling ,Ellen Flottman,Marian Jernigan ,Beth Wuest
Edition 5ISBN: 978-0132724166Merchandising Mathematics for Retailing 5th Edition by Cynthia Easterling ,Ellen Flottman,Marian Jernigan ,Beth Wuest
Edition 5ISBN: 978-0132724166 Exercise 1
What are the primary functions of retailing?
Explanation
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Retailing includes all the business activities or functions involved in procurement of goods and selling them to the final consumer.
Primary functions with respect to retailing are in the following aspects:
• Storage: This is the main function of retailers. The inventory of goods should be hold by the retailers for meeting the daily requirement of customer.
• Sorting: The main function of retailing is sorting. Here, retailers arranged the items in the order because the buyers (customers) easily locate and pick up their required goods
• Transportation: Currently, in case of durable goods, there is undertaking of small grocery stores for delivering of orders.
• Channels of communication: The basic mode of communication is word of mouth for convey the valuable information to consumer regarding the products.
• Grading and Packing: The retailer provides grades are not given by manufacturers and wholesalers. Moreover, they pack goods in a smaller lot for the convenience of customers.
• Credit facility: They grant credit facilities to consumers.
Primary functions with respect to retailing are in the following aspects:
• Storage: This is the main function of retailers. The inventory of goods should be hold by the retailers for meeting the daily requirement of customer.
• Sorting: The main function of retailing is sorting. Here, retailers arranged the items in the order because the buyers (customers) easily locate and pick up their required goods
• Transportation: Currently, in case of durable goods, there is undertaking of small grocery stores for delivering of orders.
• Channels of communication: The basic mode of communication is word of mouth for convey the valuable information to consumer regarding the products.
• Grading and Packing: The retailer provides grades are not given by manufacturers and wholesalers. Moreover, they pack goods in a smaller lot for the convenience of customers.
• Credit facility: They grant credit facilities to consumers.
Merchandising Mathematics for Retailing 5th Edition by Cynthia Easterling ,Ellen Flottman,Marian Jernigan ,Beth Wuest
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