Chapter 1 Guide - Retailing RETAIL FUNCTIONS 1 Contact 2...

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Retailing: RETAIL FUNCTIONS 1. Contact: ?? 2. Sorting: I 2. Storage: D 3. Service: K 1. spatial: the geographic distance between producer and consumer 2. quantity: due to mass production, a product is made in a larger quantity than the consumer can use at a specific moment in time (they hold inventory) 3. assortment: consumers want/need an assortment of products in order to gain full benefits of products (I need milk with my Oreos) and an individ individual producer can only provide a portion of that assortment (due to specialization and mass production) 4. temporal: consumers may not yet be ready to purchase what the producers are currently making (a good example would be seasonal products) You can see the similarities between the text list and the way we discussed the functions in the text and the way we discussed them in POM, but, overall, the idea is that the retailer functions as a connection between the producer and consumer.
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