Retail Marketing: Introduction, Importance, Functions and Benefits
1. Introduction to Retail Marketing: Retailer is the person or institution who delivers goods to final consumer in the channel of distribution. Goods and services are created for consumption and use by people, it is retailer who assumes the role of taking the goods to its final destiny of consumption. The word retail is derived from the French word Retailer, that is to cut a piece, a break down. A retailer buys in large quantity from the middleman or manufacturer and breaks the bulk in small quantity, sells or markets them in small quantity to meet the needs of customers. He acts as a link between manufacturer or middleman and consumer. He delivers the product or service in a form, size, that is acceptable to final consumer. Retailer is described as merchandising arm of manufacturers or a neck in the bottle of distribution. Retail as trade has developed over the period of time, from un organized street vendor or seller like ‘SUBJIWALA’, PAANAWALA to organized shops like super baza...