Answers:
Retailers play a significant role as a conduit between manufacturers, wholesalers, suppliers and consumers. The retailers perform some important functions to create value to the product, the customer and the manufacturer. They are:
1. Providing an assortment of products and services.
2. Breaking bulk.
3. Holding inventory.
4. Providing services.
5. Acting as a channel of communication.
6. Transporting and advertising.
7. Increasing the value of products and services.
8. Increasing the value of products and services.
9. Providing promotional support.
Providing an assortment of products and services: Retailers carry a large variety of products from maximum number of companies. Offering an assortment enables customers to choose from a range of brands, designs, sizes, colours, and prices at one location.
Breaking bulk: To reduce transportation costs, manufacturers and wholesalers typically ship large cartons of products. Retailers then break the combination of huge quantity of products and offer them in smaller quantities to the consumers according to their consumption patterns.
Acting as a channel of communication: Retailers also act as a channel of communication and information between the wholesalers or suppliers and the consumers.
Transporting and advertising: Small manufacturers use retailers to provide assistance with transport, storage, advertising and pre-payment of merchandise.