Tag: middlemen 2 - retailer

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Questions Related to middlemen 2 - retailer

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

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

  1. Huge capital requirement

  2. Elimination of middle man

  3. Presence of bad debt

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
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.

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

The accounts of cooperative stores are audited for ____________.

  1. registrar of companies

  2. manager of the store

  3. registrar of cooperative societies

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
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.

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

Where do cooperative stores purchase their goods?

  1. Directly from Wholesalers.

  2. From retailers.

  3. From manufacturers

  4. Both A and C
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

Multiple choice 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

Itinerant retailers are small traders operating with limited resources.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
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. 

Multiple choice 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

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

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

Multiple choice 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

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

  1. Scale of operation

  2. Amount of Capital

  3. Selection of Products

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
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
Multiple choice 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

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

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
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.

Multiple choice 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

Identify the correct statement from the following.

  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
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

Multiple choice 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

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

  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
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

Multiple choice 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

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

  1. wholesalers

  2. retailers

  3. mediators

  4. commission agents
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

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