Describe the Key Channel Functions Retailers Perform That Create Efficiencies

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The Answer is Retailers create overall efficiencies for their suppliers and value for the end-consumer by performing several key channel functions:(1)Breaking bulk and providing assortment-retailers make the overall marketing channel work more efficiently by buying large quantities of goods from a variety of suppliers and distributing them to store locations that are conveniently located for the end-consumers.(2)Communication-shoppers learn about availability of goods and services,their features and benefits,store hours,special sales and promotion,and so forth from retailer ads,salespeople,store circulars,and displays.Because they are closer to customers and end-users,retailers can provide manufacturers and wholesaler partners with a wealth of useful and timely information on customer preferences.(3)Facilitating functions-Retailers provide a collection of services that ease and enhance the selling and buying goods.For instance,they offer credit to customers and accept returned merchandise.Depending on the product,retailers may also deliver,install,and service the products they sell.In some cases,they may even add value to products before distributing them to customers,such as by adding after-market parts or by bundling the product with other goods and services.(4)Completing transactions with end-consumers-retailers offer convenient locations,fill orders promptly and accurately,and process payments.

Describe the Key Channel Functions Retailers Perform That Create Efficiencies

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