Retailing
Retailing is any store or service that is provided directly to the consumer for their personal use. Retail stores help get brands directly to consumers and play an important role in marketing channels (Kotler and Armstrong, 2014). Retail comes in three service levels which are self- service where convenience goods are sold. There is also limited- service which provides sales assistance because customers need to know about information. Last there is full- service which consists of high end stores where customers are assisted in all phases of shopping. Retail stores can exist as supermarkets, convenience stores, and super stores. In addition they are normally owned by one individual however, they can be franchises or corporate groups as well.
Wholesaling
Wholesaling exists as any company that sells goods to buyers for resale. Wholesalers by from producers and sell to retailers (Kotler and Armstrong, 2014). wholesalers are important for helping sellers sell and promote and well as build assortments. Wholesalers also have the option of transporting faster to buyers as well as help finance because they can provide credit. In addition they are a big contributor of bulk breaking where consumers get a lower prices because they can buy and sell large amounts. Wholesalers exist as merchant wholesalers, brokers, agents, and manufacturers. They have an increasing need to be efficient.
Applied Work
Retail service is present in the example of my market plan located under the (applied work) tab. At In-Shape Fit for kids is served directly to the final buyer which is the member. In addition, it promotes the brand directly to the consumer.
Sources
Kotler, P. & Armstrong, G. (2014). Principles of Marketing. Upper Saddle River, NJ: Pearson Education, Inc.
Journey through Marketing 