Marketing: An Introduction (13th Edition)
13th Edition
ISBN: 9780134149530
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
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Question
Chapter 11, Problem 11.5DQ
Summary Introduction
To determine: The similarities and differences between the merchant wholesalers and brokers and agents.
Introduction:
A broker is a firm or a single person who charges a commission or fee for performing sell and buy orders submitted by an investor. A broker also refers to act as an agent for customer and charges the commission fees for the services made.
An agent is an individual who has been legally authorized to act on behalf of another individual. They are employed in an organization to deal with third parties.
The merchant wholesalers are those who sell the goods to end users.
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Chapter 11 Solutions
Marketing: An Introduction (13th Edition)
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Similar questions
- Explain how retailers can be classified based on the amount of service offered and give an example of each retailer type.arrow_forwardDistinguish the characteristics of retail and wholesale travel agents.arrow_forwardComment on this statement: “The only distinction among merchant wholesalers and agents and brokers is that merchant wholesalers take title to the products they sell.”arrow_forward
- I need help with these two questions In the general merchandise retailing category, off-price retailers A.sell high volumes of merchandise, offer limited service, and charge lower prices B.offer a wide variety of merchandise and limited depth C.sell brand-name and designer merchandise below regular retail D.sell primarily food products The three main retail formats include all of the following except A.general merchandise retailing B.food retailing C.discount retailing D.non-store retailingarrow_forwardExplain what a wholesaler does. How does this benefit the retailer? How does this benefit the manufacture?arrow_forwardDistinguish between variety and assortment. Why are these important elements of retail market structure?arrow_forward
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