Retail comes from the French word Retaillier which refers to cutting off, clip and divide and sale in smal quantity.Retailing consist of the sale of the goods or merchandise,from a fixed location such as a department store in small or individual lots for direct consumption by the purchaser.
A retailer buys goods or products in large quantity from manufactures either directly or through wholesalers and sells smaller quantities to the end user.
Retailers are the end point of the supply. Pricing techniques used by the most retailers is cost plus pricing. this involves adding a markup amount to the retailer cost. e.g Like a retail company purchase a colgate for Rs10 from Colgate Company and sells at Rs13 in outlet, so Rs3 is the markup amount.
Second technique used by the retailers is suggested retail pricing. It involves charging the amount suggested by the manufacturer and usually printed on the product.
4 comments:
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