Questions: purchase goods from manufacturers and wholesalers and then sell these goods to the end-customer.

purchase goods from manufacturers and wholesalers and then sell these goods to the end-customer.
Transcript text: purchase goods from manufacturers and wholesalers and then sell these goods to the end-customer.
failed

Solution

failed
failed

The text you provided describes the role of retailers in the supply chain. Retailers are businesses or individuals who purchase goods from manufacturers and wholesalers and then sell these goods directly to the end-customer. This process involves several key functions and considerations:

  1. Procurement: Retailers source products from manufacturers and wholesalers. They must carefully select products that meet the needs and preferences of their target market. This involves negotiating prices, terms, and conditions to ensure profitability.

  2. Inventory Management: Retailers must manage their inventory effectively to balance supply and demand. This includes maintaining optimal stock levels, minimizing holding costs, and ensuring product availability for customers.

  3. Marketing and Sales: Retailers employ various marketing strategies to attract customers and drive sales. This can include advertising, promotions, and creating an appealing store environment, whether physical or online.

  4. Customer Service: Providing excellent customer service is crucial for retailers to build customer loyalty and repeat business. This includes handling inquiries, returns, and complaints efficiently.

  5. Distribution: Retailers are responsible for the distribution of goods to the end-customer. This can involve physical stores, online platforms, or a combination of both, depending on the business model.

  6. Pricing Strategy: Retailers set prices based on factors such as cost, competition, and perceived value. They must find a balance between being competitive and maintaining profitability.

Retailers play a vital role in the economy by connecting producers with consumers, facilitating the flow of goods, and contributing to the overall customer experience. Examples of well-known retailers include Walmart, Amazon, and Target, each employing different strategies to meet the needs of their diverse customer bases.

Was this solution helpful?
failed
Unhelpful
failed
Helpful

Questions asked by other users

failedAnswered
What is the depth at which carbonate begins to dissolve called? How about the depth were all carbonate dissolves completely?
failedAnswered
Math 172: Integration July 30, 2020 1 "Area under the curve" Integration is often introduced as a way to solve the problem of calculating areas of objects with curved boundaries. That problem is then set up as a problem involving the graph of a function. So integration becomes an operation on functions. It turns out to have many more uses than expressing "area under the curve". Here is a sketch of how integration is typically defined along these lines. Suppose f is a real-valued function with domain containing a closed interval [a, b]. We will determine a way to find the area between the graph of f and the x-axis, from x=a to x=b : We'll start by approximating this area as a sum of areas of rectangles (somewhat like the picture suggests). Let's start with an example. Say f(x)=x^2. Say we want to find the area of the striped region (from x=1 to x=3, above the x-axis, and below the graph):
failedAnswered
Select the minerals involved in maintaining the bony matrix Sodium Phosphorus Lead Potassium Calcium Iron
failedAnswered
You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar. Regular withdrawal: 2600 Interest rate: 4.5% Frequency: weekly Time: 21 years Account balance:
failedAnswered
A grandfather wants to know the average height of all his grandchildren. He finds that the heights of his 9 grandchildren are given in inches by 63, 71, 60, 59, 74, 60, 60, 75, 58. What is the population mean of the height of his grandchildren in inches? Round your answer to the nearest tenth of an inch and do not include units.