11 Important Functions of the Retailers

Retailers perform following functions and services connected with the marketing of products:

1. Retailers provide maximum local convenience to customers. Retailers generally establish their shops in residential areas. As a result, consumers are able to get their requirements locally.

2. Retailers offer goods for sale in any quantity for the convenience of consumers. Consumers get small quantities of goods from retailers as and when required. Hence the consumers need not store the commodity beyond their requirements.

3. Retailers usually keep varieties of products, manufactured by different firms. Thus, consumers are provided with wider choice with regard to quality and price. They are provided the freedom of choice by the retailers in terms of quality as well as price. Thus, selection becomes easier for consumers.

4. Retailers are often found introducing new items, styles and ideas to the customers. They are able to do so because of their understanding of the needs of the consumers.

5. Retailers often offer free expert advice to customers, on the merits and uses of the various products being offered for sale.

6. Retailers very often allow credit to customers. Besides, they also offer home delivery, liberal exchange facilities to the consumers. Defective and unwanted goods are sometimes taken back by the retailers.

7. Retailers provide useful information to the producers about the likes and dislikes of consumers, their needs and also their buying behaviour. Such information acts as a guideline for determining the production policies of firms.

8. Similarly, promotional and product information is passed on from producers to customers through retailers. Retailer undertakes sales promotion activities through window display and counter display.

9. Retailers usually assume the risk by providing guarantee about the products that they sell to the consumers. Thus, consumers remain satisfied about the genuineness of products.

10. Retailers assume all the risk inherent in ownership of goods. In fact, they bear all the trade risks which are associated with the normal course of business.

11. Retailers are indispensable for meeting consumer’s daily requirements like fresh foodstuff, vegetables, fruits, milk, bread, eggs, etc.

Submitted by : Dr. Prachi, Category : Essays, Tag : Essay on Intellectual Properties Rights