In what ways do retailers add value to products?
What will be an ideal response?
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.
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Which of the following accounts is increased with a credit?
a. Supplies b. Fees Earned c. Supplies Expense d. Dividends
What is protectionism and why might a government adopt it as a policy? Explain how three examples of protectionism function
What will be an ideal response?
Which of the following statements is FALSE concerning the delivery of a business presentation?
a. What you say at the beginning sets the stage for your entire presentation and initiates your rapport with the audience. b. Attention-getting techniques may include a quotation by an expert, an appropriate joke, or a startling statistic. c. The inductive approach is used, because the deductive approach would remove the suspense factor for the audience. d. After presenting the purpose, you should preview the major points you will discuss in the order you will discuss them.
A company purchased a mineral deposit for $800,000. It expects this property to produce 120,000 tons of minerals and to have a salvage value of $50,000. In the current year, the company mined and sold 9,000 tons of minerals. Its depletion expense for the current period equals:
A. $139,500. B. $150,000. C. $60,000. D. $15,000. E. $56,250.