Centralized purchasing and decision making,as well as cost efficiencies,are characteristics of which form of retail institution?

Question

Quizplus · Accepted Answer

Chains are characterized by centralized purchasing and decision making, which allows for cost efficiencies. Independent retailers, on the other hand, operate autonomously and do not have the same level of centralized control. Retail cooperatives involve a group of independent retailers coming together to achieve similar goals, but decision making is usually more democratic and less centralized. Vertical marketing systems involve a coordinated distribution channel that may include manufacturers, wholesalers, and retailers, but do not necessarily involve centralized decision making or purchasing.

Centralized Purchasing and Decision Making,as Well as Cost Efficiencies,are Characteristics