RRP supplies retailers are the smallest and last in the chains of distribution of products in the market. However they are many in number compared to the other members in the chain of distribution. People need to be informed on the works they do and services they offer towards delivery of goods to the final customer in the market and appreciate because without them there would not be equilibrium in the market.
The retailers have the liberty to charge any cost on the goods they sell to the customer. However they need to be fair not to exploit the customer. Exploitation would come if the customers are charged hefty prices so that the retailers reach their goal of achieving the highest profit margins. This necessitates action to be taken. This is the reason for the coming up of this kind of distribution.
Why have these distributors? The suggested price is very useful in the market. This is so to stabilize the prices in the market. This eliminates the disadvantages that exist in a free market economy where every seller fix their own prices or apply the forces of demand and supply. In a free economy then there would be inefficiencies that would be evident if there is no stabilization of prices.
Protection of consumers is another thing which is put into consideration. If the retailers were left to manipulate prices as they want there would be other inefficiencies. Some retailers would start practicing hoarding, such that they wait for appropriate time when the prices are high to make more profits leading to shortages. They could also increase prices directly and exploit the consumers.
They are actually known for the better and community development. It does not really fix the retailer to the price as they can choose to do with a lower price. This is so because they want to attract more customers. Because of the stiff competition in the market this is one way of luring customers. However if it is not done right it may lead to losses.
Therefore retailers ensure that the customer gets the products on time. The retailers should create utility for the goods passed to them in the chain of distribution. It could be time utility, form, place and time utilities to ensure satisfaction. Form utility would be created by repackaging after breaking bulk so as to meet the taste and preferences of the consumers.
Generally, retailers are the best utility creators in the economy. They would store goods until required by customer hence time utility. They ensure the goods are availed to the customer when and where needed and also the quantity. After making sales they can extend more services like demonstration of usage.
Besides RRP supplies for market and price stability meant to protect the consumer, they retailers involved could offer more services. They show how to use the product and may extend services to free delivery or credit facilities. Therefore everyone should learn to appreciate the work of the retailers.
The retailers have the liberty to charge any cost on the goods they sell to the customer. However they need to be fair not to exploit the customer. Exploitation would come if the customers are charged hefty prices so that the retailers reach their goal of achieving the highest profit margins. This necessitates action to be taken. This is the reason for the coming up of this kind of distribution.
Why have these distributors? The suggested price is very useful in the market. This is so to stabilize the prices in the market. This eliminates the disadvantages that exist in a free market economy where every seller fix their own prices or apply the forces of demand and supply. In a free economy then there would be inefficiencies that would be evident if there is no stabilization of prices.
Protection of consumers is another thing which is put into consideration. If the retailers were left to manipulate prices as they want there would be other inefficiencies. Some retailers would start practicing hoarding, such that they wait for appropriate time when the prices are high to make more profits leading to shortages. They could also increase prices directly and exploit the consumers.
They are actually known for the better and community development. It does not really fix the retailer to the price as they can choose to do with a lower price. This is so because they want to attract more customers. Because of the stiff competition in the market this is one way of luring customers. However if it is not done right it may lead to losses.
Therefore retailers ensure that the customer gets the products on time. The retailers should create utility for the goods passed to them in the chain of distribution. It could be time utility, form, place and time utilities to ensure satisfaction. Form utility would be created by repackaging after breaking bulk so as to meet the taste and preferences of the consumers.
Generally, retailers are the best utility creators in the economy. They would store goods until required by customer hence time utility. They ensure the goods are availed to the customer when and where needed and also the quantity. After making sales they can extend more services like demonstration of usage.
Besides RRP supplies for market and price stability meant to protect the consumer, they retailers involved could offer more services. They show how to use the product and may extend services to free delivery or credit facilities. Therefore everyone should learn to appreciate the work of the retailers.
About the Author:
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via oneofthebest
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