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Model Paper 2 — Business Studies STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceBusiness StudiesModel Paper 24 Marks
Question
Describe any four functions of retailers.
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Answer

The functions of retailers are as follows:
i. Financing: Retailers provide goods to consumers often on a credit basis to their regular customers. This increases the level of consumption and hence the standard of living of salaried class.
ii. Supplying market information: Since the retailer is in direct contact with the consumers, he provides information regarding their tastes, preferences, and attitudes, etc. to the wholesaler. This information helps them in making important marketing decisions.
iii. Convenience in buying: Retailers provide goods to consumers according to their requirements through the door to door services or by telephone etc. Usually, they are situated near residential areas and remain open for long hours.
iv. Risk bearing: A retailer has to bear the risk if the change in style and fashion occurs when the goods are stored in large quantities in the warehouses.
v. After sales services: Retailers sometimes provide home delivery and after sales service to costumers.

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