Functions
Every retailer performs the following functions:
Every retailer performs the following functions:
1) Buying :-
1) Buying :-
A retailer deals in a variety of merchandise and so he buys collects large number of goods his stocks from a variety of wholesalers. He selects the best from each store them and bears wholesaler and also pays the most economical price. He brings all the goods marketing risks, under one roof and then displays them in shop. Thus he performs the twin _ functions of buying and assembling of goods.
A retailer deals in a variety of merchandise and so he buys collects large number of goods his stocks from a variety of wholesalers. He selects the best from each store them and bears wholesaler and also pays the most economical price. He brings all the goods marketing risks, under one roof and then displays them in shop. Thus he performs the twin _ functions of buying and assembling of goods.
2) Storage :-
2) Storage :-
After assembling the goods, the retailer stores them in his godown so that they are held as reserve stocks for the future. Storage of goods in ready stock is also necessary.
After assembling the goods, the retailer stores them in his godown so that they are held as reserve stocks for the future. Storage of goods in ready stock is also necessary.
3) Selling :-
3) Selling :-
The ultimate aim of every retailer is to sell the goods he buys. So he employs efficient methods of selling to dispose off his products at a faster rate so that he can increase his turnover in a period of time.
The ultimate aim of every retailer is to sell the goods he buys. So he employs efficient methods of selling to dispose off his products at a faster rate so that he can increase his turnover in a period of time.
4) Risk-bearing :-
4) Risk-bearing :-
The retailer bears the risk of physical damage of goods and also that of price fluctuations. Moreover, risk of fire, theft, deterioration and spoilage of goods has also to be borne by him. Changes in fashions, tastes and demand of his customers also have an adverse effect on his sales; nevertheless a retailer does not lose heart. He bears all these trade risks which come in his way during the normal course of business.
The retailer bears the risk of physical damage of goods and also that of price fluctuations. Moreover, risk of fire, theft, deterioration and spoilage of goods has also to be borne by him. Changes in fashions, tastes and demand of his customers also have an adverse effect on his sales; nevertheless a retailer does not lose heart. He bears all these trade risks which come in his way during the normal course of business.
5) Packing and Marketing :-
5) Packing and Marketing :-
in certain cases, the retailers have to do the packing and marketing job. He may buy in large units and then make several small packs. Every packet may need marketing or labeling with sucha details. A retailer packs his goods in small packets and containers for his customers. Occasionally he may be required to grade the goods also.
in certain cases, the retailers have to do the packing and marketing job. He may buy in large units and then make several small packs. Every packet may need marketing or labeling with sucha details. A retailer packs his goods in small packets and containers for his customers. Occasionally he may be required to grade the goods also.
6) Grants of Credit facilities :-
6) Grants of Credit facilities :-
The retailer, especially, the general stores, do offer credit facilities to their regular consumers. It helps to estblish good relations with the customers and earn their loyalty. Often retailers grant credit to customers and also bear the risk of bad debts, which go along with credit sales.
The retailer, especially, the general stores, do offer credit facilities to their regular consumers. It helps to estblish good relations with the customers and earn their loyalty. Often retailers grant credit to customers and also bear the risk of bad debts, which go along with credit sales.
7) Market Information :-
7) Market Information :-
The retailers provide market information to the wholesalers and manufacturers. Such information is provided in respect of change in consumer preferences, likes, dislikes, etc. Such information is vital to the manufacturers so that can develop product as per buyer requirements.
The retailers provide market information to the wholesalers and manufacturers. Such information is provided in respect of change in consumer preferences, likes, dislikes, etc. Such information is vital to the manufacturers so that can develop product as per buyer requirements.
8) Personal Services :-
8) Personal Services :-
The retailers are in in constant touchwith their consumers in the selectionof right brands, especially, in case of durable goods. They may also provide home dilivery and after-sales-service.
The retailers are in in constant touchwith their consumers in the selectionof right brands, especially, in case of durable goods. They may also provide home dilivery and after-sales-service.
9) Supply Information :-
9) Supply Information :-
Retailers supply valuable market information to both wholesalers and customers.
Retailers supply valuable market information to both wholesalers and customers.
10) Advertising :-
10) Advertising :-
Retailers displaytheir goods and spend on advertisement also.
Retailers displaytheir goods and spend on advertisement also.