2.2.4 Place 🏜

Question 1

What is place ?

Answer 1

How we get our products to our customers

Question 2

What is retailing ?

Answer 2

Business that sales goods from a wholesaler or a manufacturer by adding mark up on to products they sale - COST PLUS PRICING

Question 3

What are the 4 ways we classify retailers?

Answer 3

1. Food and drink
2. Soft goods - clothing
3. Hard goods - furniture
4. Arts and entertainment

Question 4

What are the 2 ways we can classify technology goods ?

Answer 4

1. Black goods - screen based for entertainment - speaker / TV
2. White goods - more functional electronics - washing machine

Question 5

What are the 3 types of retailers

Answer 5

Multiple retailers- asda

Independent retailers may have non-price factors

E-tailers- online shops

Question 6

What are the negatives of retailers ?
(3)

Answer 6

2. May charge higher prices than e-tailers
3. May be open when customers are busy - inconvenient
4. May find it embarrassing to buy certain products

Question 7

What are the negatives or e-tailers

Answer 7

1. Hard to establish trust with no face to face contact
2. Only as good as your delivery service
3. Prone to Security/ fraud issues
4. Website costs can be high

Question 8

What are the advantages of having an e-tailer ?

Answer 8

1. Low start up costs - can start with small investment
2. Lots potential to grow
3. Sale more range than a retailer
4. Can undercut competitors by being more cheap