Consumer Protection and Commerce

Large scale production refers to the production of a commodity on a large scale with a large sized firm. It requires huge investments in plant and machinery. Large scale production can be carried out if the market size is large and expanding.Large scale firms are division of labor and production and sale of goods in large quantities. They cater to a large market. The industrial revolution laid the foundation of the factory system. The factory system which extensively used machinery and adopted division of labor made large scale production possible.

The following are some of the motives of large scale production.

1. Desire for economy.
2. Desire for increase in sales.
3. Desire for a large customer base.
4. Desire for large profits.
5. Desire to become a global company.
6. Desire for economic power.
7. Desire for continuous growth and expansion.
8. Desire to increase demand.
9. Desire to overcome competition.
10. Desire to achieve monopoly status.
11. Desire for achieving long term profitability.

Retailers' cooperatives, where independent retailers join together to perform wholesale functions, are often referred to as voluntary chains.

Wholesalers often provide credit to retailers, which allows retailers to stock goods without needing to pay upfront, thus managing with less working capital.

Itinerant means traveling from place to place.Itinerant retailers have no fixed place of business. They move from place to place for selling their goods to the consumers. Itinerant sell in small quantities. 

Suitable Sales Policies sells its products only through authorized equipment distributors for resale in the agricultural and landscaping irrigation markets, plus other markets. Credit sales are made only to authorized distributors with established open accounts, subject to applicable credit limits.

A retailer purchases in bulk from the wholesalers and sells the products to the customers in small quantities. A retailer essentially maintains a variety of merchandise. The aim of a retailer is to achieve maximum satisfaction by exceeding their expectations and delivering exceptional services.

Commencement of Business under Companies Act, 2013. A Public and Private Limited company having share capital cannot commence business until it has obtained the certificate of commencement of business (COB) from the concerned Registrar of Companies.

Retailers are the final link in the distribution chain, selling goods and services directly to the end consumer for personal use.

Retailers provide manufacturers and wholesalers with valuable services, including promoting products, gathering market feedback, and facilitating large-scale operations by handling distribution.

Street trading is defined as the selling or offering for sale of any article in thestreet. Traders who use the public highway to sell goods or services must have astreet trading licence to carry out trade from a designated site/pitch and display of goods in front of a shop.

Distribution is the process of making a product or service available for the consumer or business user that needs it. This can be done directly by the producer or service provider, or using indirect channels with distributors or intermediaries.

Promotion is a type of communication between the buyer and the seller. The seller tries to persuade the buyer to purchase their goods or services through promotions. It helps in making the people aware of a product, service or a company. It also helps to improve the public image of a company. Promotion is the element in an organization's marketing mix that serves to inform, persuade and remind the market of the organization or its products.

Hyper-markets are large retail facilities that combine a supermarket and a department store, representing a more modern and expansive retail format.

Retailers provide various services to customers, including offering a wide selection of goods, providing credit facilities, and offering after-sales support.

True.