Accounting technicians scheme west africa
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- (vi) Discount stores
- (viii) Specialty store
- C.9.6 Wholesaling
| Consumer co-operatives: These are the stores owned by a group of consumers themselves on cooperative principles. Here the store purchasing in bulk quantity and sells it to the consumers at a reasonable price. It is formed to eliminate the exploitation of middlemen. (v) Super markets: This is a large, low cost, low margin, high volume, self service operation designed to serve customer’s need for food laundry and household products. The wide range of product mix carried by these stores make them a favorite retail outlet. (vi) Discount stores: Discount stores are the ones that sell standard merchandise at lower prize than conventional merchants by accepting lower margins but pushing for higher sales volume. (vii) Convenience store: These are generally food stores that are much smaller in size than in supermarkets. They are conveniently located in residential areas. Due to a high degree of personalized service and home delivery by store clerk, these stores fill in a very important need of a house wife. (viii) Specialty store: These are ones that carry a narrow product line with a deep assortment within that line. According to some marketing thinkers, the future scenario belongs to super specialty store as they provide increasing opportunities for market segmentation, focused marketing, and creation of brand equity. C.9.6 Wholesaling Wholesaling has to do with all business activities related to the sale of products to those who buy for purposes of resale and/or business use. Wholesalers buy in large quantities from the producers and sell in smaller quantities to retailers and other users. The wholesaler is important because of the following reasons 255 i) They provide very essential market information to the producer. They inform the producer the extent of demand for the product and preference of customers in relation to styles, quality, price, packaging etc. ii) Some wholesalers warehouse goods and relieve the producer of the cost of keeping large stocks of finished products. iii) Wholesalers sometimes pay producers promptly. This reduces the financial problem of producers. iv) The wholesaler relieves the retailer of the necessity of keeping large stocks because the retailer can replenish his stock anytime he wants. v) Some wholesalers finance retailers by granting them credit. This reduces the amount of capital required by retailers. vi) The wholesaler relieves the marketing problems of retailers by breaking products into the required sizes and repackaging. Download 3.37 Mb. Share with your friends:
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