What functions are carried out by the Retailer ?

A retailer is a person who is final piece of the chain performs certain functions which are described as under:

A retailer is involved with the process of buying and selling of the products from the both of the parties the wholesaler and the ultimate customer, a retailer purchase the products from wholesaler in a handsome quantity and sales those products in small quantity to the final customers.

A retailer keeps the products in the shop as it provides function of storing as well, retailer stores the products of different companies at single place for the very short period of time and in very little quantity as well.

Grading and packing function is also carried out by the retailer in which retailer gives the different categories to products and pack them, different quality and different sizes of the goods are packed by the retailer for a consumer.

A retailer is also act as an advisory for the customer, the customers ask for the advice from a retailer as a retailer is involved with the multiple brands customers sometimes feels confusion which to purchase and which to not that’s why they ask from the retailer and retailer what he thinks is good shares his views with the customer.

Provisions of Information: a retailer keep the information for the customer and shares it with the personalities for whom it is important to know what the customers are looking for like Producer it is very essential for the producer to know the likes and dislikes of the customers.

Retailer keeps the information like about the demand of the customer, fashion which is carried out by the public, culture and trend as well which is followed by the ultimate customers.

The retailer is also provides the facility to final customer of the home delivery, the products are provided to them at home with some extra charges retailer provides goods at home, in some business the home delivery is specialty like E-Commerce in which the goods are delivered at the door steps.

After sale service is also provided by the retailer, once a product is purchased by the customer now after the purchase of the goods the retailer also provided services such as maintains of the appliances, producer sometimes allows the customer to maintain their goods after six months free of cost from the retailer for what a retailer is paid by the producers.

Characteristics of a Retailer as a channel of Distribution

The word Retailer is derived from the French language whose meaning in to cut again the main motto or purpose for a retailer is to create the demand of a product among the consumers the majority of business in this universe is of retailing in which the directly selling of product goods and services to the final customer who purchase that product for personal use is involved.

A retailer posses so many attributes for what it is vital in the market for the customers and for producer as well , the traits of the retailer are can be:

A retailer who is a part of the channel of distribution in the chain it creates link among the wholesaler to the final or ultimate consumer.

A retailer is a person who has the personal contact or face to face sale with the customers for the producer it is very important to know what the general public is looking for, in which they are interested, this complete information is provided through a chain by the retailer.

As the business who totally rely on the satisfaction of the customers with the product but what really can satisfy the customer can know only either the customer or the retailer, a retailer has a knowledge regarding ends and want of the final customer.

A retailer do not have any single brand product it sales the goods in different varieties of goods there can be more then hundred company’s product in which a retailer is dealing with each product with different attribute and different utilities.

A retailer to attract its customers showcase the product or display its products on the window like you have seen the dummy wearing the cloths of different company in the markets through which you are attracted to purchase that particular shirts.

A retailer also deals on the credit as well some customers who are loyal but do not have money at the time of purchase of goods a retailer allows him to buy products on account after a time the payment is made by the customer, a retailer is known as the selling point as well from where you purchase the goods.

A retailer is a person who provides you goods at the convenient place sometimes door to door, the goods and services are available at easy point may be near to your home, in a area there are markets in each colony which are near to the population a retailer keeps its selling point in the market which is near and easily available to the public.

Who is Wholesaler and how it Provides Service to Producer

Wholesaler is a person who make the sale of product in a bunch it sales the product only to the retailer who with its margin sell those product to the final customers.

Wholesaler sales products in huge quantity he resale the products, it is very important in the channels of the distribution who buys and resell the merchandise to retailers and other merchants and institutions but he do not sell the products to the ultimate customer.

There are multiple services to a wholesaler provides to the producer which are described under:

Act as an Intermediary:

Wholesaler is an intermediate, he is an agent who creates links between the retailer and producer, it is a channel through which the producer make retailer makes contact and exchange of information regarding the need of the customers takes place.

Storage and Transportation:

Wholesaler is a person who keeps the product in the warehouses to provide the goods to remote areas where the direct selling of the product is not possible, it is only wholesaler through which the products are transported from the company to the wholesaler and wholesaler keeps goods in warehouses and from warehouses these goods are transported to remote areas.
Price Stability: Wholesaler plays a vital role in the stability of the price who maintains the mechanism of demand and supply, he fulfill the market needs with quick orders to the producer and do not let the market to be short in the products.

Risk Sharing:

A wholesaler is playing a vital role in the sharing of risk as it accepts the goods in huge quantity to fulfill the need of the market and store those goods into the warehouses now once the goods are stored the wholesaler bears the risk of possibilities of change in inflation, suppose a product of a producer is of $10 but after few days due to change in the policy of the government sometimes the governments provide subsidies to general public and reduce the taxes like General Sales Tax now the product which is of $10 now its price is $8 or may be less so the risk of $2 is shared by the wholesaler but it is also a fact that wholesaler also enjoys the benefit of inflation as well.

Prompt Delivery of Products:

A wholesaler is a person who creates link between the producer to final consumer there is a chain followed by the different personalities wholesaler keep the goods in the near places from the market, if any shortage of the products occurs the demand can be filled on immediate actions, it will take time to reach goods directly from the company this is how a wholesaler helps in the prompt or quickly delivery of the products.

Functions of Channels of Distributions

Channels of distribution also known as marketing channels it is path or way which is traced in the direct or indirect transfer of the ownership of the product, it moves from the producer who produces the product for earning the profit and to the consumer who purchases the product to satisfy its needs for whom the product is composed of the utilities.

There are different functions of the channels of distribution that are followed to facilitate and provide products at door steps, the functions are described here below:

Assembling of the Goods:

The product is composed of so many parts which are produced or manufactured at different places the product is made up of those different parts now these products are assembled or gathered at one place and form those different parts one or single product is produced.

Physical Distribution

Goods are physically distributed place to place it is transported via automobiles to stores like warehouses where these are kept for further far placement of the products, on these warehouses there are certain standard which are necessary to be meet like temperature so it should not become harmful to product.

Marketing Information/ Research (Strength and Weakness):
One of the most important factor for the channels of the distribution is to research the market gather the information regarding the product, place, selling techniques, advertisement methods what fashion is adopted and what are the methods to attract the customers.

There are certain elements for what the company enjoys the more edge like any company is rich with the technological and innovative factors or any company has any edge for its flavors.

Financing:

The work of finance can’t be ignored in this phase money is sometimes paid in advance as a loan they companies are financed by the different agencies to carry out its functions and for that favor the company is charged with the interest.

Grading and Mechanism of Demand and Supply

Grading meaning the categorizing of the product in which product is categorized like A B C and so on, in the market the equal balance of supply and demand must be maintained otherwise it can create inflation in the market as where at the market the demand for a product is high the supply should be according to the demand if there is a shortage in the supply the price for that product will go up as there will be huge number of buyer and less number of sellers.

What Process is Followed to Do Market Research ?

Research is a way, it is process in which the individuals are involved to extract the information which is needed according to the requirement of a person, the reason of the research is to acquire solutions to the problems.

When you need to investigate something you do research of that particular element by following a systematic way with the material and sources available at the spot and with those materials and sources people come into some new facts and effective conclusion.

Identification of the Problem

The process of research starts with the identification of the problem, people have to come across with a problem for which they are going to do a research, they need to find a topic or statement rely on that topic they go through the ground and do investigation regarding that problem aim is to obtain new facts and have an effective conclusion.

Situation Analysis

The next step is to analysis the situation regarding that particular problem that why that problem occurs, in situation analysis the experts use to collect the methods in which they analyze organization’s internal and external environment in which they decide about the capabilities, customers and business environment.

Research Design

In the process of research design the time-frame and cost of the research is going to be discussed that for how long it will take to complete the research, the cost which is going to be budgeted separately for the research how much funds should be allocated to researcher and the type of the research is discussed either it should be descriptive research, experiential, or correlation research (these are the different types of the research there are some other types as well but just to quote an example we have taken few types).

Collection of Data

In this step a research collects the data with two types the primary research and the secondary research (Primary Research includes the personal findings, own work when you do research personally going to the locations and asking for the facts is known as primary research whereas on the other hand secondary data is a kind of research in which people rely on the research work of others which is already been done by other researchers they do collect that information from the reviewing of literature, they use search engines on the internet, newspapers, both types of media etc is used in secondary type of research).

Perfect Competition in the Market Vs Imperfect Competition in the Market

Perfect competition is a situation in which they are so many persons or companies who offer they products whose products are homogenous, it is market in which there are number of sellers are involved in which they offer their products.

Lets understand this from an example that in a market there is a service which is needed by the customers of soft drinks now here there are almost six to seven different companies in which they do offer their services with different prices the utility of product is same that is satisfy the thrust of the people with soft drinks but their flavor varies according to the different formula.

Perfect competition is found very beneficial for the general public as in the perfect competition there are huge number of suppliers available who provide the complete knowledge and a space for making analysis.

In the situation of monopoly there is a restriction for companies not to offer the product and service except a single company there are barriers in the market for the new comers and there is a very little or no chance for the make comparison as there is no any alternative in a market which has adopted a monopoly trend and people have only to rely on that.

On the other hand in perfect competition the market is open for the new comers which increases the competition in which there are brands in very low quantity.

Perfect Competition of market allows the home industries to show case their product enhance their business in which it is the market who decide for the price not an individual which trend is adopted in the monopoly markets, the margin of profit in perfect market is for long run but very small in ratio.

In the Imperfect market there are not much competitors in the market if the competitors exist in bunch there can be a slide differences in their offering services such as electricity, fuel and so on in which the companies fulfill the need of the electricity so offer the hydro electricity and others solar system, in the fuels some companies offer gas facilitation and some rely on the petrol, diesel and so.

In the imperfect market where there is dominancy of a single company the price of the product is decided by the single man only the company independently makes decision regarding the price.

Imperfect market do not offer complete knowledge of the product , in the imperfect market the role of entrepreneurs is quite significant which is forcefully merged.

Performance Appraisals in the Organizations

Performance appraisal which is also sometimes called as AGR Annual General Report is set by the management (senior management) of each employee and send these reports to next level managers who on the basis of those reports decide for the rewards.

Performance appraisal is a formal process in which the employees are measured with the standard set by the organization, a file is set by the authority in which the detailed activities of the employee is recorded.

Before the commencement of job the employees are given training and a booklet in which the duties and responsibilities of the candidate is mentioned and also the standard of the organization is written which are necessary to meet for every individual.

In the performance appraisal the behavior of the employees how he do communicate with anybody, how he respond to any complex situation, how he utilizes his skills, knowledge and tribute in the contingencies.

The purpose of the performance appraisal is to identify the fault & weakness of employees where do they lack and then to suggest them how they can recover for that weakness, sometimes the training is also offered to the employees.

Professional peoples who are conducting the performance appraisal they never label their employees with negative markings neither they are bias but sometimes as we are human and we do mistakes we become bias sometimes the authority who is bias puts harshness in the marking it is also bias that they can give you favor they may give you good numbers which is known as leniency bias but again it comes into the biasness the authority must provide fair and true performance of the employees.

There are reasons for what the performance of the employees are shown as poor and they are not reward with certain awards, those who perform according to the set standard are awarded with rewards such increase in the salary to appreciate employees, to promote the employee from lower rank to higher rank for the employee recognition and sometimes shields are given such as best employee of the year, on the other hand those employee who do not perform according to the standard they can be shifted to lower position to their current position.

Poor performance occurs when the employee experiences inappropriate skills knowledge and skills they do not do such effort to make things goods they lack in their efforts, the shortness of communication may be the reason for the poor performance the job design is not well sated.

Qualities of Good Salesman

A sales man is a person who is an employee of an organization which is involved in the promotional activities for a company, they go to the different places shop to shop and door to door as well to increase the sale of a company, different locations are followed by the sales mans to provide complete knowledge of the product to general public which is known as promotional activity.

A sales man who is representative for a company needs some qualities as he is directly involved with the customers, a sales man is controlled and managed by the sales manager.

The physical quality of any sales man is his good appearance by look a sales man must be in dress coat if the company follows the dress coat rules if not so the sales man must have at least washed and clean cloths, a sales man must also be sound and healthy physically, if a person is looking dull by its appearance or he is lazy it puts bad impact on the general public.

Sales man must provide a good posture to public his body language and style the way of handshake, eye contact these are the things which are noted by the public and which attract them toward the purchase of product of any company.

The pleasant voice of sales man normally it is famous for the females that they have the pleasant voice which attract customer towards the company but it is a myth by the word pleasant voice means the voice of a salesman must be clear and easily understandable to each individual.

A salesman must also have the mental qualities for its quick actions when the salesman talk about the promotion or qualities for any product of the company he should not provide any space to think to a customer regarding any bad quality of the product, a salesman must be attentive and perform quick activities.

Salesman also posses the imaginative quality in which by your eyes a salesman understand what is needed to you what is your choice for the satisfaction, a salesman has the knowledge of the company’s product he will let you know to decide for your choice.

A salesman also posses the social and moral qualities, a salesman must behave in good manner to avoid any conflict he must be adopt the tactfulness, a salesman is helpful to others as he is co-operative and acts friendly, he is trustable for the customers.

What is Product and what are its types

Anything which possess the bundle of utilities meaning the power to satisfy one’s need, it is any offer which has or creates values, it is the combination of both the internal and external features, a product must have its physical existence or tangibility.

There are so many types of products which are offered by the different entrepreneurs for the consumers some of them are described below:

Measurable Goods: a goods which can be measured meaning which can be recognized from its title or name or trademarks, anything which has name for which it is known for such as BATA, NIKE these are the famous and well known companies for the foot wares.

Perishable Goods: Perishable goods are those which has expiry date or which can be finished and it cannot be stored in any storage not even in human body such as a meal for a human has the energy which provides different proteins and vitamins, when you eat dinner in night and go to bed the complete energy goes vanish when you wake up.

Inseparability and Variability of the Product: a product which possess services inside of the person or entity which provides service to you the linkage between the producer and consumer cannot be separated, a product must have variability as well, as today’s world changes very quickly and this global village has very tough market which is obliviously in favor of both the parties consumer and producer, a product must gives customer a different look.

Consumer and Indus Goods: the goods which are purchased by the final customer these goods are not for sale purpose as the ultimate customer have obtained the product, whereas in Indus goods the goods which are purchased by the customer are used for further processing it can be used in business.

Convenience Goods and Shopping Goods: convenience goods are those goods which are purchased within a blink of eye without putting much efforts or analyzing different products with no wastage of time the goods are purchased by the consumers.

Shopping goods are those goods for which you have to go shop to shop to purchase the specific product which requires more time and it needs more efforts as the customer do compression like when you do purchase your clothes for any party of function you go to different shops and make analyzing which one has the best utility you do purchase that product.

Define and Explain Product Life Cycle

The product life cycle is a process in which a series of steps is followed it starts from the introduction or the origin of the product next step is growth of the product and the it reaches to peak which is knows are maturity and if it could not survive at maturity than it goes down towards the declining stage.

A product must have maturity maintaining otherwise it will crash down. this means you need to create and increase the inertia with the heart efforts.

In the introduction stage or step the product of any company is introduced in the market, the complete knowledge regarding the features and facilities of a product is provided to the general public via marketing, so that consumer must have knowledge regarding the product so it can be attracted with its different features offered by the product, you need to tell and convince your customers what you are offering how your product can provide them satisfaction.

Once your product is well introduced in the market slowly graduate the product of your company will catch the growth, the product is well known to market commercialization of product has been tremendous your product’s name is enough than your product will uplift its reputation with the growth, in which there will be a certain increase in the sale of your product, demand of your product and increase in the profit as well.

Maturity is the peak for any product in which it enjoys high class good will and reputation in the market now you have taken your product in sky and the ratio of profit is increase day by day, the management need to increase the span of maturity in order to survive and maintained its maturity for longer period may be for unlimited time otherwise the product of you company will go down towards the declining position.

Although there is a tough competition in market specially in today’s era where each company has the latest technology and offers the luxuries and comfort in their product, with the use of latest technology they let the consumer know each and every knowledge of your product, it is very tough to maintain the maturity position and avoid declining position, but still you need to maintain maturity with tactics make the very special use of social media where now a days every individual is engaged you need to keep you customer busy with your product by offering them new fashionable trends.