Place

• What is the definition of agents in business?

  Agents do not take ownership of goods.
• What role do agents play in business?

  They represent businesses and try to gain sales.
• Why are agents used when operating abroad?

  To negotiate sales on behalf of a seller.
• How do agents assist businesses unsure about trading practices?

  They provide knowledge of legal requirements.
• What is one benefit of using agents in foreign markets?

  They reduce the risk of trading abroad.
• What are the pros and cons of various distribution channels?

  Pros:

  • Direct control over the process
  • Easier quality maintenance
  • Greater profit share

  
  

  Cons:

  • Costs of retail outlets
  • Limited market reach without intermediaries
• What is the definition of distribution channels?

  The route taken by a product to consumers.
• How do more distribution channels affect a business?

  They allow reaching a wider potential market.
• What is the sequence of a typical distribution channel?

  Manufacturer – agent – wholesaler – retailer – consumer.
• What do wholesalers do in the distribution process?

  They buy in bulk and break into smaller quantities.
• What is the traditional approach of wholesalers?

  Wholesalers buy in bulk to reduce small deliveries.
• How has the modern approach to wholesaling changed?

  Large retailers buy in bulk directly from producers.
• What are some forms of retailing mentioned?

  Department stores, supermarkets, convenience stores.
• What trend has been growing in retailing over the past few years?

  Out-of-town shopping centres and online shopping.
• How do out-of-town shopping centres differ from traditional retailing?

  They offer larger spaces and diverse options.