Tag: role of market/bazaar

A trader who sells goods in small quantities to the buyers is known as a retailer. Traders purchase the goods from the wholesaler and then sell the final goods to the consumers. Example of retailers is neighbourhood shops, shops in malls, hawkers, vendors etc.

In a market, the people in between the producer and the final consumer are the traders. The wholesaler is the trader who buy goods in large quantity from various producers. They are the traders who are the first one to buy goods in large quantities from the producer. They then sold the goods to small traders known as retailers.

Retailers cannot be classified based on the quantity of goods. Dealing in bulk quantities would make them a wholesaler. They are connecting link between the consumers and whole sellers.
 
Retailers are of many categories and they are classified on the following basis;

• Size
• Goods
• Price
• Ownership

Marketing means sale and purchase of goods and products. Earlier the products were made keeping in mind the generality of the use and customers used to buy such products and bring them into use to avail their productivity. . According to the modern view of marketing, a producer or a manufacturer needs to understand the needs and wants of the customer. It relies on sensing, increasing, servicing and satisfying the needs and wants of the customer, both current and potential. As the customer is the focus of this entire process in the modern view, he is the 'King'.

Market is the place where activities of sale and purchase take place at wide scale. The market places are also called Bazaars. It has many shops of different goods and commodities. People spend their money to take goods and services whereas the sellers earn profit by sale. It can be a place physically like mall or virtually like Flipkart etc.

Trade is the activity of buying, selling and exchanging goods or services between people, firms and country. It creates a link between producer and consumers.

Itinerant means traveling from place to place. Itinerant retailers have no fixed place of business. The Kisan Mandi or Market is itinerant retailing where retailers bring their  produce or product, invest small amount of capital, sell them and earn profit and move to next place.

The whole sellers buy goods directly from the consumers in stock or in bulk quantity. They further sell it to the retailers to earn profit. This way they become connecting link between retailer and producer. The retailer further sells it to the customers.

Retailers buy goods from whole sellers who buy directly from the producers in massive or bulk quantity. The retailers buy goods as per their need and requirement of sale and sell them to the consumers. 

The whole seller directly buys goods from the manufacturer of producers and sell them to retailers in small quantities. The whole sellers deal in one item in large quantity and sell them to different retailers to earn maximum margin profits.