Manag., December-2019 – Q32
- Option : D
- Explanation : Retailing is the process of reaching out to
customers through suitable ‘formats’ to
provide a choice of product offerings
providing value for the money they spend
and in a pleasing ambiance so that the
the consumer keeps getting back to the same
store again and again. The ‘format’ is
obviously the physical features of the store
and the ‘service’ it provides. Retailers use
the format to distinguish themselves from
each other. The format could include the
location of the store, its size, layout/design,
the range of offerings and also the service.
Retail formats are defined by location,
merchandise offered size, price of goods, and
any special offers to the consumers. It is only
the modern organised retailers who have given
the consumer newer formats. For ages, the
only format known to the Indian consumer
has been the small shopkeeper nearest to his
place of residence. The consumer has been
concerned with the location which has to be
close by rather than what is the physical
characteristics of the store he frequents. The
storekeeper also started extending the
convenience of home delivery, payment once
a month, and hence the physical format did
not matter to the consumer. Modern retail
formats have added to the pleasure of
shopping through their ‘formats’.
For the consumer, he now has the choice of shopping using a store format which is a physical entity or a non-store format which could be through the internet or through a catalogue. In the physical store format be has the benefit of getting a look and feel of the product he is buying and assisted by a store salesman. The physical store format therefore provides more satisfaction to the consumers.
