Tag: meaning and essential elements of retail trade

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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

Through the service of ________ retailers make the products available to the final consumers, who may be scattered over a large geographic area.

  1. distribution of goods

  2. promotion

  3. collecting market information

  4. enabling large-scale operations
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

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.

n a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed.In a command economy, also known as a planned economy, the government largely determines what is produced and in what amounts.

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

Retailers help manufacturers to advertise their products and offer short-term incentives in the form of coupons, free gifts, sales contests. This service is identified as _________.

  1. Help in distribution of goods

  2. Help in promotion

  3. Collecting market information

  4. Enabling large-scale operations
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

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.

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

Using internet, identify the ways to sell products.

  1. Build a fully responsive website to place the products, as well as to enable customers to order these products.

  2. Buy ad space on social media.

  3. Create a customer loyalty email list to email offering exclusive sales or information on upcoming products.

  4. Any of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Selling Techniques -
  • Challenging the Status Quo. Most salespeople see the sales process as a linear process. 
  • Finding Your Value Wedge. 
  • Telling Stories with Contrast. 
  • Making the Customer the Hero. 
  • Using 3D Props.
  • Selling Benefits. 
  • Competing in a Bake-Off. 
  • Marketing to Personas.
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 Latest entrants in the field of retailing is what?

  1. Super markets

  2. Hyper-markets

  3. Cooperative retailing

  4. Instalment selling
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

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

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 word "retailer" is originated from ______.

  1. german

  2. french

  3. greek

  4. italy

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The word "retailer" is originated from the french word 'Tailer' which meant to cut off or divided that gave the concept of selling in small units. 

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 type of traders mainly deals with the agricultural products?

  1. Itinerant Retailers

  2. Fixed shop retailers

  3. Small-size retail shop

  4. Large scale retailing institutions
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Itinerant retailers, such as hawkers and peddlers, often deal in perishable items like agricultural products, moving from place to place to reach consumers.

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

A concept in retailing that helps explain the emergence of new retailers is called the __________ hypothesis.

  1. product life cycle

  2. service assortment

  3. retail life cycle

  4. wheel-of-retailing
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The wheel-of-retailing hypothesis explains how new retail forms emerge as low-cost, low-service entrants and gradually evolve into higher-cost, higher-service institutions.

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

One Entrepreneur who is into the hosiery business found out the reason his hosiery was not selling as its color. What could be the best source of this information?

  1. Supplier

  2. Retailer

  3. Competition

  4. Government bureau
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Retailers are in direct contact with the final consumers and are the best source of information regarding consumer preferences, complaints, and feedback.

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

In Delivery Challans _____ is mentioned.

  1. quality of product

  2. quantity of product

  3. maintenance date of product

  4. manufacturing date of product
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A delivery challan is a document that accompanies goods during transport, primarily detailing the quantity and description of the items being delivered.