Services offered by Retailers Last Updated : 06 Apr, 2023 Comments Improve Suggest changes Like Article Like Report Retailers are business enterprises involved in selling goods and services directly to the ultimate customer. They buy goods from wholesalers in large quantities and sell them in smaller quantities to the ultimate customer. Apart from buying and selling, retailers are also involved in the promotions, after-sales services, and are information providers. They extend their support to wholesalers and manufacturers as well as to the end consumers in various ways. Services offered by Retailers to Wholesalers and Manufacturers: 1. Helps in the distribution of goods: Retailers are last in the distribution chain. With the help of retailers, finished products are delivered to the final consumers. Manufacturers and wholesalers cannot reach directly to the end consumers as they are less in number, so they need retailers who can directly engage with the end consumers. 2. Personal selling: Retailers provide a personal touch in the buying and selling process. They interact directly with the customers and infuse personal selling efforts into the process. Retailers act as a representative of the manufacturers and help them in the process of actualising the sale of the products. 3. Enabling large-scale operations: Retailers allow manufacturers and wholesalers to be free from the tension of individual sales to final consumers. Wholesalers and Manufacturers can focus on other necessary activities. 4. Collecting market information: As retailers are in direct contact with the final customers, they can gather information from them and pass it to the wholesalers and manufacturers about the tastes, preferences and attitudes of customers. With the help of such information, important marketing decisions can be taken. 5. Help in promotion: Manufacturers and Distributors carry out various promotional activities from time to time to increase their sales. Retailers participate in these activities to make them successful. Manufacturers, with the help of retailers, offer coupons, gifts, etc., to consumers as part of promotional activity. Services offered by Retailers to Customers: 1. Regular availability of products: The most important aspect of a retailer is to maintain the regular availability of products for the end consumers, which enables the buyers to choose from various products. 2. New product information: Retailers are the last element in the distribution channel. They give information to consumers about new products or services through the effective display of products and personal selling efforts. 3. Convenience in buying: Retailers are situated very near to the residential areas and operate for long hours, which gives convenience to the customers as they can buy products at times they need. 4. Wide variety of products and services: Retailers offer a wide range of products and services to the consumers, so that they can select products and services based on their use, preference, needs and choice. Having various options to choose from is always good from the point of view of a customer. 5. After-sales services: Retailers provide important after-sales services that include home delivery, supply of spare parts, pre-installation services, online support, etc., which becomes a vital element in the customer's decision to repeat the purchase of the products. 6. Provide credit facilities: Sometimes, retailers offer products on credit to their regular customers, which increases customers' level of consumption and satisfaction, and ultimately improves their standard of living. Comment More infoAdvertise with us Next Article Services offered by Retailers S sukantkumar Follow Improve Article Tags : Business Studies Commerce Similar Reads CBSE Class 11 Business Studies Notes Business Studies is the area of study that talks about the principles of business, economics and management. GeeksforGeeks Class 11 Business Studies Notes have been designed according to the CBSE Syllabus for Class 11. These revision notes consist of detailed Chapterwise important topics and concept 9 min read Chapter 1: Business, Trade, and CommerceBusiness : Characteristics, Objectives and ClassificationWhat is Business?Business is any economic activity that includes the purchase or sale of goods or services with the basic objective of earning profit and satisfying the individuals' needs of the society. 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But there are a lot of activities involved betw 7 min read Business Risk : Meaning, Types, Nature & CausesWhat is Business Risk?The chance of inadequate profits or even losses due to uncertainties or unexpected events is known as Business Risk. In simpler terms, business risk is the possibility of incurring losses or generating less profit than projected. These factors are beyond the control of business 9 min read 10 Basic Factors for Starting a BusinessAll those economic activities, which are connected with production, purchase and sale of goods or supply of services with the objective of earning profit is known as Business. The term 'Business', means busy-ness or 'state of being busy' in economic activities. The activities consist of production o 5 min read Types of Industries- Primary, Secondary, and TertiaryThe industry is concerned with the processing and production of goods and services with the motive of earning profit. In simple words, it involves changing the raw materials into finished products for the purpose of selling them to the customers. The goods sold by industry can be either used by othe 6 min read Chapter 2: Forms of Business OrganisationForms of Business OrganizationAn organization engaged in some commercial activity or business with the motive of earning profit is known as a business enterprise. If an individual or a group of individuals plans to start a new business or expand its existing business, selecting the right form of business organization is essentia 4 min read Sole Proprietorship : Meaning, Definition and FeaturesWhat is Sole Proprietorship ?A sole proprietorship is the most popular, oldest and simplest form of business organization. It is basically made up of two words, one is 'sole', which means "one" and the second is 'proprietor', which means "owner". So, Sole Proprietorship means a business with a singl 4 min read Advantages and Disadvantages of Sole ProprietorshipA sole proprietorship is the most popular, oldest and simplest form of business organization. It is basically made up of two words, one is 'sole', which means "one" and the second is 'proprietor', which means "owner". So, Sole Proprietorship means a business with a single owner, also known as a sole 5 min read What is Joint Hindu Family Business (Hindu Undivided Family Business) ?Joint Hindu Family Business is a form of business, which is found only in India, and wherein the business is owned and carried on by the members of the Hindu Undivided Family (HUF). It is governed by the Hindu Law (The Hindu Succession Act, 1956). 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In business, choosing the right type of 7 min read Cooperative Society : Meaning, Features, and TypesWhat is Cooperative Society?The word "cooperative" means to work together and cooperate with each other, similarly, in a cooperative society, a group of people forms a voluntary association to benefit the members and work for the betterment of society, especially for the weaker sections. The members 6 min read Advantages and Disadvantages of Cooperative SocietyThe word "cooperative" means to work together and cooperate with each other, similarly, in a cooperative society, a group of people forms a voluntary association to benefit the members and work for the betterment of society, especially for the weaker sections. According to "The Cooperative Societies 4 min read Joint Stock Company: Meaning, Features, and TypesWhat is Joint Stock Company?An association of different individuals formed to carry out business activities is known as a joint stock company. 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A contract or agreement under which one party agrees in return for a consideration to pay an agreed amount of money to another party to make a loss, damage or injury to something of value in which the insured has a pecuniary interest as a result of some uncertain event is known as 3 min read Marine Insurance : Importance, Types, Advantages & DisadvantagesWhat is Marine Insurance? Marine insurance is a contract in which the insurer agrees to compensate the insured against maritime losses in the way and to the extent agreed upon. Maritime insurance protects against loss caused by marine hazards or perils of the sea. Marine risks include ship collision 7 min read Difference between Life, Marine, and Fire InsuranceIndividuals and property owners in the modern world use insurance as one of the most important safety nets. Insurance is essentially a bond that you sign with a bank or your insurance provider, in which the insurance provider promises to pay you a specific amount in the event of an emergency or if y 4 min read Communication Services: Postal and Telecom ServicesCommunication is a two-way process in which information or messages are sent from one person or group to another. This process continues with at least one sender and recipient passing on the messages. These messages can be any combination of ideas, imagination, emotions, or thoughts. Meaning of Comm 5 min read Types of General InsuranceA contract between two parties, whereby one party agrees to indemnify or cover the loss suffered by the other party for a consideration of some money(premium) is known as Insurance. Insurance policies protect against the numerous forms of uncertainty that might occur in a person's life. Insurance pr 5 min read Warehousing Services: Meaning, Types, and FunctionWhat is Warehousing? When goods are held in stock to make them available as and when required, it is known as Warehousing. It helps businesses to overcome the problems of storage and makes goods available when needed and thus, helping in maintaining prices at a reasonable level. It is a planned plac 6 min read Chapter 5: Emerging Modes of BusinessIntroduction to Emerging Modes of BusinessDigitization, Outsourcing, and Globalisation are some of the strongest trends that are shaping business across the world. The way business is done has undergone some fundamental changes, in the last decade or so we are introduced to some different types and modes of business. 'Mode of Business' can 7 min read Scope of e-Business : B2B | B2C | C2C | Intra B-CommerceWhat is e-business?Conducting business activities over internet or any other computer network is known as e-business or electronic business. e-business electronically covers the conduct of the activities involved in business activities, like trade, commerce and industry. Computer networks which are 5 min read Benefits of E-commerceWhat is E-commerce?E-commerce, also known as Electronic Commerce, refers to the purchase and sale of goods and services through the Internet. The first online transaction occurred in 1994 when a guy sold a Sting CD to a friend via his website Net Market, an American retail platform. This is the firs 4 min read Difference between E-business and Traditional BusinessE-business and traditional business are two ways of conducting business through the Internet and local stores respectively. Even though both are ways of performing business and selling goods and services, they are different from each other. Table of Content What is E-business?What is Traditional bus 3 min read What is an Online Transaction?Business transactions conducted through the internet are called online transactions. It is a payment method that aims to settle money transfers or funds settlements via electronic mode. It also requires security and protection using basic methods like password protection and OTP verification to safe 4 min read Types of e-business RisksWhat is e-business Risk? Unlike arm's length transactions in physical exchange, online transactions are subject to a number of risks. The probability of any mishap resulting in financial, reputational, or psychological losses to the parties involved in a transaction is referred to as risk. Because o 4 min read Outsourcing : Meaning, Features, Scope, Types of OSP & BPOWhat is Outsourcing?Contracting out non-core and regular activities in which a company lacks competence to other agencies in order to benefit from their experience, knowledge, and efficiency is called Outsourcing. It is a business practice, known as contracting out or business process outsourcing in 9 min read Concern Over OutsourcingEvery organisation is not competent in every activity, and to get those things done properly and efficiently, it needs to outsource some of its activities from outside. This contracting out of some activities that were earlier performed by the company itself to a third party is known as Outsourcing. 2 min read Chapter 6: Social Responsibilities of Business and Business EthicsSocial Responsibilities of a Business and its NeedWhat is Social Responsibility?An organization's obligation to make decisions and perform them for the benefit of society and its values is known as the social responsibility of a business. An organization performs different activities to fulfill its profit-earning motive and satisfy the needs of so 5 min read Types of Social Responsibilities of a BusinessWhat is Social Responsibility?An organization's obligation to make decisions and perform them for the benefit of society and its values is known as the social responsibility of a business. It is assumed under social responsibilities that businesses will respect the values and aspirations of society 3 min read Business Ethics : Meaning, Benefits and ElementsWhat is Business Ethics?Business ethics refers to the set of principles or standards that govern the moral conduct of business. It is concerned with the relationship between the techniques, practices, and objectives of an organization. Business ethics says that businesses have to be honest with them 6 min read Social Responsibility towards Different Interest GroupsA business is a part of society and it gets the manpower and resources required for the accomplishment of different activities from society. It means that the existence of a business depends upon society, and hence an organization should not ignore its responsibilities toward society. In other words 6 min read Business & Environmental Protection: Causes, Types, Role & Need for Pollution ControlWhat is Business and Environmental Protection?Environmental protection is a serious issue that business leaders and decision-makers must confront. The term "environment" refers to the totality of man's surroundings, both natural and man-made. These surroundings are also made up of resources that are 7 min read Chapter 7: Formation of a Company (Not in CBSE Curriculum for the Academic Year 2022-23)Steps in the Formation of a CompanyModern-day business requires a large amount of funds. The competition and change in the technological environment are also increasing day by day. As a result, the company form of organization is being preferred by more and more business firms. 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It has different stages and in every stage of the formation of the company there lies a set of documents and pre-defined procedures, it has to fulfil for starting a business. Article of Association and Memora 5 min read Steps required for raising Funds from PublicWhat is Capital Subscription? Capital Subscription is known to be a very important step in the process of the formation of a company. This step is a must for any public company before it can commence its business operations. But what does actually 'Capital Subscription' mean? It means that once the 6 min read One Person Company: Meaning and CharacteristicsOn the basis of ownership, a company can be of three types: 1. One Person Company 2. Private Company 3. Public Company. The Companies Act, of 2013, introduced a number of ideas that had never before been used in Indian corporate law. 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Every business requires funds to operate and carry out various activities, and without funds, there is no future for any organization. Therefore, finance is called the lifeblood of any business. There is always an initial amount of capi 4 min read What are the different Sources of Finance?Business is concerned with the production and distribution of goods and services to meet demands. Finance is required by businesses to carry out many activities. As a result, finance is said to as the "vital blood" of any business. Business finance refers to a company's need for finances to carry ou 8 min read Retained Earnings : Meaning, Features, Advantages and LimitationsWhat are Retained Earnings?Retained Earnings are that part of the profits of an organisation, which remains with it after meeting all its operating expenses and paying out dividends to all the shareholders. The organization intends to keep this surplus amount with itself in the form of reserves and 4 min read Trade Credit : Advantages and DisadvantagesWhat is Trade Credit?Trade credit is credit given by one merchant to another for the purchase of products and services. Trade credit allows for the purchase of materials without the need for immediate payment. Such credits appear as 'sundry creditors' or 'accounts payable in the records of the buyer 3 min read Advantages and Disadvantages of FactoringA financial service under which a 'factor' provides various services, like discounting of bills and providing information about the credit worthiness of prospective clients, etc., is known as Factoring. Table of Content What Services does Factoring Include?Advantages of FactoringDisadvantages of Fac 4 min read Lease Financing : Meaning, Advantages and DisadvantagesLease financing is a popular medium and long-term financing option in which the owner of an asset grant another person the right to use the asset in exchange for a periodic payment. The asset's owner is known as the lessor, and the user is known as the lessee. A contract is to be made between the le 4 min read Public Deposits: Advantages and DisadvantagesWhat is Public Deposits? Public deposits are deposits collected directly from the public by organisations. Interest rates on public deposits are typically higher than those on bank deposits. Anyone who is interested in making a monetary contribution to an organisation may do so by completing a presc 3 min read Commercial Paper : Features and TypesWhat is Commercial Paper?A Commercial Paper (CP) is a short-period 90 to 364 day, unsecured promissory note that is issued by a company to raise funds (usually for the inventories, finance, and temporary liabilities). It is issued by one organization (Primary Dealers (PD) and All-India Financial Ins 4 min read Advantages and Disadvantages of Commercial PaperWhat is a Commercial Paper? A Commercial Paper (CP) is a short-period 90 to 364 day, unsecured promissory note that is issued by a company to raise funds (usually for the inventories, finance, and temporary liabilities). It is issued by one organization (Primary Dealers (PD) and All-India Financial 2 min read Issue of Shares : Meaning and Types of SharesWhat is Issue of Shares?Share capital is capital obtained through the issuance of shares. A company's capital is divided into small units called shares. Each share has a nominal value. For example, a company can issue 2,00,000 shares of Rs. 10 each for a total of Rs. 20,00,000. The person who holds 5 min read Equity Shares : Merits and DemeritsWhat are Equity Shares?A company's most important source of long-term capital is equity shares. Because equity shares represent a company's ownership, the capital raised through the issuance of such shares is known as ownership capital or owner's funds. A company must have equity share capital in or 5 min read Preference Shares : Features, Types, Merits and DemeritsWhat are Preference Shares?Preference shares are those shares that are issued with features like preferential claim to dividends and capital repayment with a fixed rate of return. Preference share capital is the capital acquired through the issuance of preferred shares. There are two ways in which p 5 min read Debenture : Meaning, Types, Advantages, and DisadvantagesWhat is Debenture?A debenture can be described as a debt instrument issued by a company to the public in order to raise funds for medium or long-term usage. It is just like a bank loan, with debt obligation and liability for interest payment, but instead of borrowing from a bank, these are issued an 5 min read Commercial Banks : Features, Advantages & DisadvantagesWhat are Commercial Banks?A commercial bank is a financial institution that provides services like accepting deposits, granting loans, bank overdrafts, offering certificates of deposits, and savings accounts to individuals and businesses. Commercial banks are considered to be an important component 6 min read Advantages and Disadvantages of Financial InstitutionsFinancial Institutions refer to a business establishment that serves as a link between the savers and investors and helps them to channelize the funds into different investing options. Financial Institutions are the financial intermediaries that accept deposits from the general public (their savings 3 min read International Financing: Meaning and Sources of International FinancingWhat is International Financing?When LPG (Liberalisation, Privatisation And Globalisation) was accepted by the country in 1991, the aspect of Globalisation broadened the avenues with which businesses can arrange funds. Prior to this policy, firms were constrained only to the four walls of the countr 8 min read Factors Affecting the Choice of the Source of FundsEvery organization requires capital to run its daily operations. The initial capital of a firm can never be sufficient for the proper running of the business. Therefore, it has to identify and estimate the financial needs and different sources from where funds can be arranged. A business can run its 4 min read Chapter 9: Small BusinessMSME and Business EntrepreneurshipThe size of a business in small industries and business establishments is a major issue. Several parameters can be used to measure the size of business units. These include the number of people employed in a business, capital invested in a business, the volume of output or value of the output of a b 9 min read Importance and Types of Intellectual Property Rights (IPR)Intellectual Property Rights or IPR refers to the legal rights that creators or owners have over their intellectual properties.Intellectual Property, sometimes known as IP, refers to the creations of the human mind, exclusive to a single person. Intellectual Property includes inventions, literature 7 min read Like