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Retail trade is carried on both at small scale and large scale. Small scale retailers are either mobile traders (itinerants) or fixed shops. Mobile Traders or Itinerants These retailers have no fixed place of business. They move from place to place and sell articles of daily use near to consumers. These include the following:

1. Hawkers: A hawker moves about in residential localities. He carries his goods in a hand cart or bicycle. He deals in low-priced goods of daily use. E.g. combs, toys, soaps, mirrors, bangles, vegetables, fruits, ice-cream, etc. 

2. Peddlers: A peddler also moves from house to house and sells articles of daily use. But he carries his wares on his head or on the back of a mule. 

3. Cheap Jacks: A cheap jack hires a small shop in a residential locality for a temporary period. He shifts his business from one locality to another depending on the availability of customers. He deals in low-priced household articles. 

4. Pavement dealers or Street Traders: A pavement dealer displays his wares on footpath and outside public places such as railway station, bus stand, cinema, temple, etc. He sells low priced articles like newspapers, magazines, fruits, vegetables, footwear to the passersby. He is also called street trader. 

5. Market Traders: A market trader sells goods at weekly markets when the shops are closed for weekly holiday. He displays goods outside the closed shops. He deals in lowpriced articles of daily use. He may also set up stalls on fairs and exhibitions. Fixed Shops (Small Scale Retail Shops) Small scale retail shops are the most popular form of retail trade. 

These may be classified as follows: 

1. Street stalls holders: These stalls are located in the main streets or street crossings. A stall is an improvised structure made of tin or wood. The street stall holder displays his goods on a temporary platform and sells toys, stationery, hosiery items, etc. at low prices. 

2. Second hand goods shops: These shops sell used or second hand articles such as books, clothes, furniture, etc. They cater to the needs of poor people who cannot afford new articles. These shops collect goods at private and public auctions. 

3. General stores: These stores sell a wide variety of products under one roof. .For example, a provision store deals in grocery, bread, butter, toothpaste, razor blades, bathing soap, washing powder, soft drinks, confectionery, cosmetics, etc. Consumers can buy most of their daily requirements at one place. Their time and effort is saved. Some of these stores offer free home delivery and monthly credit facilities to regular customers. 

4. Single line stores: These stores deal in one line of goods. They keep stock of different size, design and quality of goods in the same line. Book stores, chemist shops, electrical stores, shoe stores, cloth stores, jeweler shops, etc., are examples of single line stores. 

5. Specialty shops: These shops generally specialise in one type of product rather than dealing in a line of products. Shops selling children’s garments, educational books, etc., are examples of such shops.

Fixed shops are of two types: (A) Small scale and (B) Large scale. 

(A) Small Scale:

There are different types of small retailers which are explained as under:

1. Street Stalls Holders: These retailers carry their business on a very small scale basis in busy and crowded streets by erecting permanent shops. They purchase goods in large quantities from the wholesalers and local suppliers for reselling to the ultimate consumers. They usually deal in household articles and products of daily need. These stall holders are usually the sole proprietors of their shops i.e. carrying every activity right from buying till final disbursement of goods to the consumers. 

2. Second Hand Goods Sellers: These dealers deal in second hand or used articles. They purchase these articles from public or private auctions and private households. These articles usually include used garments, furniture, books etc. These dealers meet the needs of the poor people who cannot afford new articles. 

3. General Shops: They deal in different variety of goods and are known as general merchants. The goods are meant for daily use or household purposes. They carry their business in permanent shops. They manage the shops themselves and are most often assisted by sales assistants. Usually goods are sold on credit by these merchants to their permanent customers. They also provide free home delivery service and facility of exchange of rejected goods to the customers. 

4. Speciality Shops: These retailers deal in one particular line of goods e.g. books, utensils, shoes and medicines etc. These shops can be operated on small scale basis and managed by the owners themselves assisted by salesmen. The most important advantage which can be derived from these shops is that the owners possess the specialised knowledge about the product which is very helpful in satisfying the customers.

(B) Large Scale Retailers: 

The second type of retailers under fixed shops is large scale retailers. The large scale production and rapid urbanisation are responsible for the establishment of large scale retailing organizations. Most prevalent of these are: 

1. Departmental Stores; 

2. Multiple Shops or Chain Stores; 

3. Mail Order Houses; 

4. Super-Markets; 

5. Co-operative Stores ; and 

6. Vending Machines

I do not agree. In India it is the most visible segment of the urban informal economy. It is indisputable that there are thousands—and in some cases, tens or hundreds of thousands —of street vendors in most big cities of the developing world. Yet it is exceedingly difficult to produce accurate estimates of the number of street traders in any given city. In some countries, official statistics on street vendors are available, though they underestimate the total number of people engaged in street vending. Without providing them an alternative employment, we cannot think of making it illegal. Yes, for security reasons, they may be asked to get an ID with them or they may be issued a pass by local authorities.

The retail trade is conducted now on a large scale. The mass production of goods and the concentration of population in urban centers has necessitated the establishment of largescale retail trading houses. There are many advantages of retailing on a large scale. However, in spite of the economies of large scale retailing, the small-scale units could not be eliminated because of the various special advantages possessed by them. Some of the more prominent large-scale retail organizations are as follows: 

1. Departmental Stores 

2. Multiple Shops or Chain Stores 

3. Mail Order Houses 

4. Super Markets 

5. Consumer Cooperative Stores 

6. Vending Machines

1. Departmental Stores: A departmental store is a large-scale retail organisation having a number of departments under one roof. Each department specialises in one particular kind of trade. All these departments are centrally organized and are under one united management and control. A departmental store is an organization of several retail stores carried on in one building and under united controlled management. The basic objective of a departmental store is to provide a large variety or merchandise from a pin to an aeroplane at one place. 

2. Multiple Shops or Chain Stores: A multiple shop system is a network of branch shops, situated at different localities in the city or in different parts of the country, under a centralised management and dealing in similar lines of goods. Such multiple shops are very common and popular in the west and are known as Chain Stores. According to J.L. Fri, “Chain Stores is a group of stores handling similar lines of merchandise with single ownership and centralised location.” The Federal Trade Commission defined a chain store as “an organization owing a controlling interest in two or more establishments which sell substantially similar merchandise at retail prices.” 

3. Mail Order Sale Houses: A Mail Order Sale is a retail business where orders are placed by post or mail and goods Eire received either by registered parcel or V.P.P. i.e., Value Payable Post. Under such a type of selling, the seller advertises his products in the leading dailies and magazines of the area and the intending buyers respond to such advertisements by requesting for catalogues and price lists from the seller. The buyers do not inspect the goods before purchasing but place orders on the basis of the advertisements which they see in the newspapers and magazines. After orders are received from customers, the goods are dispatched by V.P.P. or registered mail. The postman of the buyer’s locality delivers the goods to him and takes the payment for the same. Thus the post office plays a vital role in such type of sale, and it is because of this type of sale is also sometimes referred to as “Shopping by Post”. 

4. Super Markets: The super market is a large-scale retail institution specialising in necessaries and convenience goods. They have huge premises and generally deal in food and non-food articles. In the words of M. M. Zimmerman, “A super market is a departmentalised retail establishment having four basic departments viz, self-service grocery, meat produce, dairy products plus other household departments, doing a maximum business. It may be entirely owner operated or have some of the departments leased out on a concession basis.”Super markets came into existence in the USA during the Great Depression of the thirties. However, the original super markets were established by independent merchants who dealt mainly in food products. 

5. Consumer Co-Operative Stores: A consumer co-operative is a retail business which is owned by the consumers themselves. Their basic objective is to eliminate middlemen The consumers join together and manage the business and the profit thus earned is retained among themselves in the proportion of their contribution. The society purchases in bulk and avails the discounts and sells in small lots to the members. Some of the co-operative stores are run on a large-scale basis while others are small in size and nature. 

6. Vending Machines: Such selling machines are extensively used in the west. The vending machine is operated by inserting a coin and the buyer can get the articles. Vending machines are usually acquired to sell articles like cigarettes, soft drinks, chocolates, candles etc. Railway platform and bus tickets are also sold by this method. The articles sold by a vending machine are pre-packed and labeled and are usually of reputed brands. The goods should be uniform in size and shape and less bulky in weight. The installation of such machines is an expensive affair and it needs regular maintenance also. Such machines are quite attractive in appearance and installed at busy shopping centers.

The major services offered by wholesalers to the producers of goods and services are given below:

(i) Facilitating Large Scale Production: Wholesalers collect small orders from number of retailers and pass on the pool of such orders to manufacturers and make purchases in bulk quantities.

(ii) Bearing Risk: The wholesalers deal in goods in their own name, take delivery of the goods and keep them in their warehouses bearing risks of fall in prices, theft, spoilage, fire, etc.

(i) Financial Assistance: The wholesalers provide financial assistance to the manufacturers in the sense that they generally make cash payment for the goods purchased by them.

(ii) Expert Advice: Wholesalers can advice the manufacturers about various aspects like customer’s tastes \ – and preferences, market conditions, competitive activities and the features preferred by the buyers as they are in touch with retailers.

(iii) Help in the Marketing Function: The wholesalers take care of the distribution of goods to a number of retailers who, in turn, sell to large number of goods to customers spread over a large geographical area.

(iv) Facilitate Continuity: The wholesalers facilitate continuity of production activity throughout the year by purchasing the goods as and when they are produced.

(v) Storage: Wholesalers take delivery of goods when the goods are produced in factory and keep them in their godowns/warehouses.

Wholesalers provide useful market information to the manufacturers about various aspects like customer’s tastes and preferences, market conditions, competitive activities and the features preferred by the buyers. This information proves extremely beneficial to the manufacturers as it helps them in taking effective decisions regarding their production and marketing strategies.

Wholesalers offer a wide variety of services to manufacturers. The following are examples of such services: 

1. They facilitate large-scale production: Wholesalers purchase goods in bulk from manufacturers and sell them to retailers in small quantities for further resale. This bulk purchase made by wholesalers enables manufacturers to undertake production on a large scale without worrying about storage facilities. Thus, wholesalers facilitate largescale production. 

2. They provide storage facilities: When wholesalers purchase goods in bulk quantities from manufacturers, they store these goods in their god owns or warehouses, reducing manufacturers burden of finding proper storage . 

3. They collect market information: Wholesalers provide different kinds of information to manufacturers, such as information about the tastes and preferences of customers, prevailing market conditions, level of competition in the market and type of goods demanded by consumers. This in turn helps manufacturers to produce goods according to the market needs.

The retail outlets that sell their goods through mail are referred to as mail-order houses. There is no personal contact between the buyers and the sellers in this type of trading. The trader contacts the customer through advertisement in the newspaper or magazines, circulars, catalogues and price list is sent to them by post. All the information about product such as price, features, delivery terms, terms of payment etc are described in the advertisement. The customers may be asked to make full payment in advance or goods may be sent by VPP (Value Payable Post), under which goods are delivered to the customer only when he makes full payment for the same. The goods may be sent through a bank which delivers them to the customer only when he makes full payment.

Advantages of Mail Order Houses: 

1. They can be started with low amount of capital as no expenditure on building or other infrastructural facilities are required. 

2. They do not require the services of middlemen so they are eliminated. . 

3. They do not extend credit facilities to the customers and thus there are no chances of bad debts. 

4. They can serve people wherever postal services are available. 

5. They deliver goods at the doorstep of the customer which result in great convenience to the customers in buying the goods. 

Limitations of Mail Order Houses: 

1. There is no personal contact between the buyers and the sellers. The buyers are not in a position to examine the products before buying. 

2. They rely heavily on advertisement and other promotional activities which increases their cost of product. 

3. In mail order selling after sales services are absent.

Weaker sections of society run retail shops in following ways: 

1. Hawkers and Peddlers: The hawkers carry their goods in a wheeled vehicle while the peddlers carry the goods on their heads or backs. 

2. Market Traders: These retailers open their shops at different places on fixed days. 

3. Street Traders or Pavement Vendors: These retailers display their goods at busy street corners or pavements. 

4. Cheap Jacks: These retailers generally hire a small shop in a residential colony for a temporary period.

No, they are not capable to face competition from large scale retailers. In fact there I do not have to face competition from large scale retailers because their clientele is different from them. Poor and lower middle class people buy from small retail shops while upper middle class and rich people buy from large scale retail shops. Therefore, they can manage to exist due to following advantages over large scale retail shops.

• A small scale retailer himself looks after his business. He is not required to employ managers or to spend on advertising, etc. Therefore, he can sell goods at lower prices.
• A small scale retailer can take quick decisions. He is not required to consult others.
• A small scale retailer can easily adjust his stocks according to the changing needs and fashions of his customers.
• A small scale retailer can more easily maintain secrecy of his business affairs.

Manufacturer gets following services from retailer which he will not be able to get if wholesaler is eliminated from the chain. 

1. By selling under his own brand name the wholesaler often relieves the manufacturer of the need to advertise his product. 

2. The wholesaler removes goods in larger quantities as they are produced, thus clearing the production lines. 

3. By warehousing the goods the wholesaler bridges the time gap between production and consumption, leaving the manufacturer free to concentrate on his specialised activities. 

4. He eliminates the need for a marketing system with all that involves in terms of warehousing space, distribution network, sales staff, accounting records, and debt collection. 

5. By paying promptly the wholesaler reduces the working capital required by the manufacturers.

A consumer co-operative store is an organization owned, managed and controlled by consumers themselves. The cooperative stores generally buy in large quantity, directly from manufacturers or wholesalers and sell them to the consumers at reasonable prices. Members get products of good quality at cheaper rates since the middlemen are eliminated or reduced.

The major advantages of a consumer cooperative store are as follows:

(i) Ease of Formation: It is easy to form a consumer cooperative society Any 10 people can come together to form a voluntary association and get themselves registered with the Registrar of Cooperative Societies by completing certain formalities.

(ii) Limited Liability: The liability of the members in a cooperative store is limited to the extent of the capital contributed by them. They are not liable personally to pay for the debts of society, in case the liabilities are greater than its assets.

(i) Democratic Management: Cooperative societies are democratically managed through management committees which are elected by the members. Each member has one vote,, irrespective of the number of shares held by him/her.

(ii) Lower Prices: A cooperative store purchases goods directly from the manufacturers or wholesalers and sells them to members and others. Elimination of middlemen results in lower prices for the consumer goods to the members.

(v) Cash Sales: The consumer cooperative stores normally sell goods on cash basis. As a result, the requirement for working capital is reduced.

(vi) Convenient Location: The consumer cooperative stores are generally opened at convenient public places where the members and others can easily buy the products as per their requirements.

If retailers are removed, it will lead to direct marketing. In general, you cannot save money by “eliminating the middleman” because intermediaries specialize in performing certain tasks that they can perform more cheaply than the manufacturer. Most grocery products are most efficiently sold to the consumer through retail stores that take a modest mark-up—it would not make sense for manufacturers to ship their grocery products in small quantities directly to consumers. Intermediaries perform tasks such as 

1. Moving the goods efficiently (e.g., large quantities are moved from factories or warehouses to retail stores); 

2. Breaking bulk (manufacturers sell to a modest number of wholesalers in large quantities —quantities are then gradually broken down as they make their way toward the consumer); 

3. Consolidating goods (retail stores carry a wide assortment of goods from different manufacturers—e.g., super markets span from toilet paper to catsup); and Aiding services (e.g., demonstrations and repairs). 

4. If these middlemen are eliminated, they will face absence of these functions which will be troublesome for them.

Mail order houses are the retail outlets that sell their merchandise through mail. There is generally no direct personal contact between the buyers and the sellers in this type of trading. For obtaining orders, potential customers are approached through advertisements in newspapers or magazines, circulars, catalogs, samples and bills, and price lists sent to them by post. All the relevant information about the products such as the price, features, delivery terms, terms of payment, etc, are described in the advertisement. On receiving the orders, the items are carefully scrutinized with respect to the specifications asked for by the buyers and are complied with through the post office.

Advantages of Mail Order Houses:

(i) Limited Capital Requirement: Mail order business, can be started with relatively low amount of capital as it does not require heavy expenditure on building and other infrastructural facilities. 

(ii) Elimination of Middle Men: The biggest advantage of mail-order business for consumers is that unnecessary middlemen between the buyers and sellers are eliminated which results in savings to the buyers as well as tp the sellers. 

(iii) Absence of Bad Debt: Since the mail order houses do not extend credit facilities to the customers, there are no chances of any bad debt on account of non-payment by the customers.

(iv) Wide Reach: This system has a wide reach as a large number of people throughout the country can be served through mail and the goods can be sent to all the places having postal services.

(v) Convenience: This system is very convenient for the consumers as the goods are delivered at the doorstep of the customers.

Mail order houses usually deals only in the goods that can be:

1. Graded and standardized 

2. Easily transported at low cost 

3. Have ready demand in the market 

4. Are available in large quantity throughout the year 

5. Involve least possible competition in the market 

6. Can be described through pictures etc.

If there is no retailer then the consumer will not get the services provided by retailers to him. These services are as under: 

1. The consumers are provided with a wide variety of products as the retailers stock a wide range of products produced by different firms. 

2. The retailers provide expert advice on the merits and uses of different products and thereby educate consumers on the product. 

3. As ready stock of different varieties are maintained with the retailers, the consumer is not required to maintain enough stock of the products. 

4. The consumers are given the facilities of purchasing according to their purchasing power since a wide range of products are maintained with the retailers. 

5. The retailer arranges home delivery of the product if necessary and renders after sale service.

Life without a local market would be very difficult because of the following points:

(i) Non-Availability of Products: Without a local market, regular availability of goods to the consumers would be hampered. There would not be a mechanism through which products could reach consumers from the manufacturers as and when required.

(ii) Information about New Products: Information about new products reaches the consumers through the local markets. The new products even after being advertised would not be available to consumers easily if there were no local markets.

(iii) Inconvenience: Local markets provide consumers the convenience’ of place and time in buying products. In the absence of local markets the consumers will have to go long distances for buying products directly from the manufacturers warehouse.

(iv) Lack of Variety of Products: Local markets provide consumers with a wide variety of products for choice based selection. This would not be available at one place in the absence of local markets.

(v) Lack of After Sales Services: The retailers in the local market provide after sales service to the consumers for goods purchased from the retail shops. This service would become difficult in case there are no local markets.

Itinerant retailers are traders who do not have a fixed place of business to operate from. They keep on moving with their wares from street to street or place to place, in search of customers.

Following are the reasons for their survival in spite of competition from large scale retailers:

1. They are small traders and hence rural customers and consumers from backward areas find themselves more comfortable dealing with them. 

2. They normally deal in consumer products of daily use such as toiletry products, fruits and vegetables, etc demand for which does not fall much with time. 

3. The emphasis of such traders is on providing greater customer service by making the products available at the very doorstep of the customers. This makes it convenient for the consumers.

4. Their cost of operation is very low as compared to large scale retailers as they do not have to incur expense; of fixed shops and inventory costs. Therefore, they are in a position to offer lower prices to consumers.

Itinerant traders are retailers who do not have a fixed place of operation. That is, they do not have a shop from where they sell their products. They are also known as mobile tradersas they keep moving from place to place in order to sell their products. They are generally found on street sides, and they shift their place of operation in search of more customers. They usually sell low-priced and non-standard goods. The reasons that itinerant traders survive in spite of the tough competition from large-scale retailers can be attributed to the following factors: 

1. It is very easy to set up a small scale retail shop. One person with limited funds himself can start business. He need not associate other persons and no formalities are necessary. 

2. A small scale retail shop can be located anywhere. It can provide goods of daily use near the place of consumers. They are not required to travel to big markets. 

3. The small scale retailer knows his customers. He can attend to them personally and cater to their individual tastes and needs. Such personalised service is not available in large scale retail stores. 

4. Small scale retailers cater to the masses that have limited income and can afford to buy small quantity. In India majority of the population is poor. 

5. It is easy to manage and control a small sale retail shop. The owner himself is the manager. He has direct motivation to work hard and increase the efficiency of business. He takes personal interest in his business organisations. 

6. Small amount of capital is required to start a small retail shop. People with small amount of funds can start retail business on a small scale.

Retail outlets that sell merchandise through mail. Telebrands

Arguments for the Elimination of the Wholesalers:

1. Many manufacturers feel that they can promote their sales without the assistance of wholesalers by aggressive selling effort, advertising, branding and product differentiation, lower prices, etc. They also feel that they can do the wholesaling function more economically than they wholesalers.

2. Many wholesalers use their own brands in competition with the manufacturer’s brands. This affects the reputation and the business of the manufacturers adversely. So, they want to eliminate the wholesalers.

3. Some of the manufactures wish to deal directly with the retailers, as they feel that the retailers are the best means of promoting sales.

4. Manufacturers of goods which require sales and after-sales services, such as demonstration, installation, adjustments, fitting, repair service, etc. prefer to deal directly with the retailers to assure such services.

5. Perishable commodities like bakery products, dairy products and fashion goods must be sold as quickly as possible. That means, the channel of distribution of these goods must, not have wholesalers.

Arguments against the Elimination of the Wholesalers:

1. Many manufacturers do not have sufficient finance and will raised marketing department to assume to the functions of the wholesalers and to deal directly with the retailers. 

2. Marketing functions are so complex that they require specialization and experts. But most of the manufacturers do not have them. So, they have to depend up to the specialist’s experts, viz., the wholesalers. 

3. The wholesalers perform the functions of concentration, equalization and dispersion better than the manufacturers. 

4. It is not economic for manufacturers to deal directly with the small orders of a large number of small retailers. That means, they have to depend up to the wholesalers. 

5. These are the days of specilisation. In these days of specialization, the manufacturers must be specialized in production, and the retailers must specialize in retailing.

Correct option is (A) Ordering goods in large quantity

A company that allows its franchises to use company’s logo, trade mark and brand name, policies, strategies and business model against a fix charge called royalty is called a parent company.

A large enclosed building that contains many small and big shops selling various types of national and international branched goods both for daily utility and luxury is called a shopping mall or simply a mall. Shopping malls are much bigger than super markets.

Shopping malls offer a large variety of national and international brand products under one roof so customers can have a wide variety of options to select from.

Telemarketing:

Marketing of goods or services through telephone calls or promotion through demonstration of product as advertisements on television is called telemarketing.

Types :
(A) Telephonic marketing
(B) Television marketing

(A) Telephonic marketing:

• A trade method where in potential customers are contacted through telephones and information and features about products is given and then sold is called telephonic marketing.
• If the potential customers show interest on telephone, the telemarketers take – their appointment and visit them at decided time. They then explain the product in detail and try to sell.
• This method is largely used for selling financial products like home loans, vehicle loan, insurance, credit cards, etc.
• Telemarketing is advantageous to customers as they can meet the sales executives at their convenient time and place.
• The products are demonstrated and sold directly by executives of companies i.e. without involving any middleman. Hence, they can sell the products cheaper and also offer discounts and schemes.

(B) Television marketing:

• The method of demonstrating features of products and providing their information on television to attract viewers and encourage them to buy the shown products is called trade through television marketing.
• Telemarketers display their telephone numbers and website address on which customers can contact and place their orders. Products are then delivered at customer’s home.
• Customers can make payment in two ways;
  1. Pay in advance through credit/ debit card or
  2. Pay cash to the person who delivers the product i.e. Cash on Delivery (COD) method.
• Products of home utilities and luxury such as mixer grinder, bed sheets, gym equipments, crockery, clothes, etc. are sold through television marketing. Television marketers sell their products directly to customers without having any wholesalers or retailers in between. Hence, customers get products at reasonable prices.

Correct option is (A) 2

Marketing of goods or services through telephone calls or promotion through demonstration of product as advertisements on television is called telemarketing.

Currency, weights and measurements, laws, trade practices, etc.

Similar discount schemes and sales are mall offered on products of identical categories, This increases competition among such products and it can be termed as a special characteristic of the mall. For example, both Reebok and Nike brands may offer discount of flat 40% during festive season.

Telemarketing:

Marketing of goods or services through telephone calls or promotion through demonstration of product as advertisements on television is called telemarketing.

Types:
(A) Telephonic marketing
(B) Television marketing

(A) Telephonic marketing:

• A trade method where in potential customers are contacted through telephones and information and features about products is given and then sold is called telephonic marketing.
• If the potential customers show interest on telephone, the telemarketers take – their appointment and visit them at decided time. They then explain the product in detail and try to sell.
• This method is largely used for selling financial products like home loans, vehicle loan, insurance, credit cards, etc.
• Telemarketing is advantageous to customers as they can meet the sales executives at their convenient time and place.
• The products are demonstrated and sold directly by executives of companies i.e. without involving any middleman. Hence, they can sell the products cheaper and also offer discounts and schemes.

(B) Television marketing:

• The method of demonstrating features of products and providing their information on television to attract viewers and encourage them to buy the shown products is called trade through television marketing.
• Telemarketers display their telephone numbers and website address on which customers can contact and place their orders. Products are then delivered at customer’s home.
• Customers can make payment in two ways;
  1. Pay in advance through credit/ debit card or
  2. Pay cash to the person who delivers the product i.e. Cash on Delivery (COD) method.
• Products of home utilities and luxury such as mixer grinder, bed sheets, gym equipments, crockery, clothes, etc. are sold through television marketing. Television marketers sell their products directly to customers without having any wholesalers or retailers in between. Hence, customers get products at reasonable prices.

Internet marketing:

• The process of marketing and selling products or services by promoting them on company’s websites, shopping websites like Amazon, Snapdeal, Flipkart, etc. or social networking websites like Facebook or by sending e-mails to prospective customers is called internet marketing.
• Customers while browsing the internet come across such advertisements or promotions or purposely visit shopping sites, studies the features of the products, compares them with other products and on other websites and then place their orders.
• Internet is a very large and effective way of marketing. Customers get products at cheaper prices compared to local markets because internet marketers do not bear expenses of shops and send the products directly to customer eliminating wholesalers and retailers. Customers also get after sales services such as product installation, demonstration, repair, replacement and refund, etc.
• Payment is made either through credit/debit cards, internet banking or cash on delivery mode.

A trade method where in potential customers are contacted through telephones and information and features about products is given and then sold is called telephonic marketing.

Correct Answer is: A. FDI 

Correct Answer is: D. none

Correct Answer is: B. FII

Correct Answer is: C. both

Theory of comparative advantage was presented by Ricardo.

D. AH of the above

D. (a) and (c) of above

B. Government looses income from custom duties

C. Show the ratio between total export earnings and import bill of a country

Correct option is (A) Temporary traders

Retailers provide customers information on utility, features, quality, price, etc. of the products. Their explanation and selling skills helps the customer make decision about buying a product. Moreover, retailers at times also offer credit and installment facilities.

Correct option is (D) Fruits

Correct option is (D) None of these

Retailers guide the customers in various ways. They guide them about the changes likely to occur in near future, new products and schemes about to be issued by producers, guide them about supply or demand of a product, price rise that it may witness, etc.

Correct option is (D) Mail order

Cash trading and credit trading.

Television marketing:

• The method of demonstrating features of products and providing their information on television to attract viewers and encourage them to buy the shown products is called trade through television marketing.
• Telemarketers display their telephone numbers and website address on which customers can contact and place their orders. Products are then delivered at customer’s home.
• Customers can make payment in two ways;
  1. Pay in advance through credit/ debit card or
  2. Pay cash to the person who delivers the product i.e. Cash on Delivery (COD) method.
• Products of home utilities and luxury such as mixer grinder, bed sheets, gym equipments, crockery, clothes, etc. are sold through television marketing. Television marketers sell their products directly to customers without having any wholesalers or retailers in between. Hence, customers get products at reasonable prices.

In television marketing, customers can make payment in two ways:

• Pay in advance through credit/debit card or
• Pay cash to the person who delivers the product i.e. Cash on Delivery (COD) method.

The method of demonstrating features of products and providing their information on television to attract viewers and encourage them to buy the shown products is called trade through television marketing.