BUSINESS ADMINISTRATION
RETAIL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Established formats-Emerging Formats-Traditional Formats
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Established formats-Traditional Formats-Emerging Formats
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Traditional Formats-Established formats-Emerging Formats
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Traditional Formats-Emerging Formats-Established formats
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Detailed explanation-1: -Retail in India originated with the Mom and Pop Stores and Kirana Stores, which used to cater to the requirements of the local population. Over a period, the government encouraged rural retail and provided support for establishing Khadi & Village industries.
Detailed explanation-2: -Retail as an organized industry really began in the 18th and 19th centuries with the rise of urban covered markets, specialty shops, and department stores. Catalogs brought the opportunity to shop without leaving the home for the first time in the late 1800’s.
Detailed explanation-3: -Making a purchase in a traditional retail environment results in the customer receiving the product there and then. Once they have selected the product they want to buy, they take the item to the checkout, pay for it and leave with it.
Detailed explanation-4: -Traditional Retail: The sales person goes to the outlet, counts the inventory, explains the promotions (if any) and then suggests an order to the store owner. The store owner then agrees or modifies the order. Modern Retail: The order would be suggested by the IT system of the Modern Retail chain.