In what ways do retailers add value to products?

Question

What will be an ideal response?

Answer 1

Retailers add value for customers by providing services and assisting in making product selections. They can also enhance consumers' perception of the value of products by making buyers' shopping experiences easier or more convenient, such as providing free delivery or offering an online shopping option. Retailers can facilitate comparison shopping to allow customers to evaluate different options. For example, car dealerships often cluster in the same general vicinity, as do furniture stores. Product value is also enhanced when retailers offer services, such as technical advice, delivery, credit, and repair. Finally, retail sales personnel are trained to be able to demonstrate to customers how products can satisfy their needs or solve problems.
Retailers can add significant value to the supply chain, representing a critical link between producers and ultimate consumers by providing the environment in which exchanges occur. Retailers play a major role in creating time, place, and possession utility and, in some cases, form utility. Retailers perform marketing functions that benefit ultimate consumers by making available broad arrays of products that can satisfy their needs.