Tag: middlemen 2 - retailer

Questions Related to middlemen 2 - retailer

Which of the following is a characteristic of a mail order house?

business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

  1. Huge capital requirement

  2. Elimination of middle man

  3. Presence of bad debt

  4. None of the above

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Correct Option: B
Explanation:

The term "middleman" describes an intermediary between a producer and an end customer. In a typical distribution channel, the middleman is the wholesaler or the retailer. Manufacturers would eliminate the middleman by selling products directly to retail stores or consumers.

The accounts of cooperative stores are audited for ____________.

business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

  1. registrar of companies

  2. manager of the store

  3. registrar of cooperative societies

  4. none of the above

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Correct Option: C
Explanation:

A co-operative society is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

Where do cooperative stores purchase their goods?

business organisation and correspondence middlemen 2 - retailer types of retail organisation types of retailing retail trade

  1. Directly from Wholesalers.

  2. From retailers.

  3. From manufacturers

  4. Both A and C

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Correct Option: D
Explanation:

A consumers' cooperative is one in which individuals combine their buying power, usually for the purchase and wholesale or retail distribution of agricultural or otherproducts. Cost savings are achieved by buying directly from the producer or farmer.

Itinerant retailers are small traders operating with limited resources.

business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

  1. True

  2. False

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Correct Option: A
Explanation:

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. 

Effective display of products and through their personal selling efforts retailers provide new product information to customers.

business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

  1. True

  2. False

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Correct Option: A
Explanation:

Personal selling occurs when a sales representative meets with a potential client for the purpose of transacting a sale. Many sales representatives rely on a sequential sales process that typically includes nine steps. Some sales representatives develop scripts for all or part of the sales process.

Which of the following is/are the crucial factor(s) for establishing a retail outfit?

business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

  1. Scale of operation

  2. Amount of Capital

  3. Selection of Products

  4. All of the above

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Correct Option: D
Explanation:
  1. Research the location. 
  2. Take the time to research the location where you will most easily attract your customers. 
  3. Make a business plan.
  4. Research your customers.
  5. Look at your competitors.
  6. Take a test run. 
  7. Read disclosure statements.
  8. Find an existing fit-out

The retailer should adopt a suitable sales policy to increase sales and profits.

business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

  1. True

  2. False

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Correct Option: A
Explanation:

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.

Identify the correct statement from the following.

business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

  1. Information about the consumers received from the retailers enable the manufactures to make suitable adjustments in the design, size and contents of their products.

  2. Many retailers offer free home delivery of goods purchased.

  3. Retailers are often ready to take back goods with which consumers are not satisfied and replace them.

  4. None of the above

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Correct Option: D
Explanation:

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.

While selecting a new area for commencement of business, a retailer should consider which of the following?

business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

  1. Income level of the prospective customers

  2. Access to wholesale markets, transportation and other facilities

  3. Research on the trend of population

  4. All of the above

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Correct Option: D
Explanation:

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.

All the activities involved in selling goods or services directly to final consumers for personal non-business uses are done by _________.

business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

  1. wholesalers

  2. retailers

  3. mediators

  4. commission agents

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Correct Option: B