LESSON 3

LESSON TRANSCRIPT 3 : RETAIL TRADE

The objectives of the lesson

1. The pupil understood the concept of retail trade
2. The pupil differentiate the retail trade with wholesale trade
3. The pupil synthesis the knowledge that retail trade and wholesale trade varies from its functions and dealings
4. The pupil synthesis the functions of wholesale trade

PHASES

Anticipatory set / Introduction

The students understood the concept of retail trade with the help of different examples.  The student will be able to understand the important functions of retail trade.  The student compares the wholesale trade and retail trade with suitable examples.

Input/procedure

Teacher presents the lesson in different steps.
1. Teacher explains the content in series of small steps
2. Teacher checks the understanding of students with the help of multiple choice questions
3. Teacher explains the content once again through guided practice
4. Teacher makes a closure of lesson through independent practice

RETAIL TRADE

Retail Trade means trade includes all actions directly related to sale of goods or services to ultimate consumers for consumption.  The word “retail” is derived from the French word “cut off” in small quantities.

Simply retailer buys goods from wholesaler cut them into small pieces or units and sells them to the consumers.

He stocks wide variety of goods to meet the requirements of his customers.

Retailers being directly and intimately in touch with the consumers.  He is the last link in the chain connecting the producer and consumer.

In retailing goods may be sold to a consumer at a store or on the street or at the residence of consumers or through mail.

Functions of retailer

1. Assembling goods
Collect different varieties of goods and hold different and adequate stock of the same.  He knows the customers precisely and buys from the best and cheapest way

2. Provide market information
A retailer has direct personal touch with the customers.  Here they are very helpful in providing market information

3. Conventional location
Retailer locates their business in safe and convenient places generally nearest to the residential areas.

4. Financing
Provide credit facilities to their regular customers.

5. Personal and after sale service

Modeling

Shows the pictures of famous retail shops and dealings of Retail shops.

Shows the examples of wholesale shop and retail shop simultaneously

Checking for Understanding
1. _____ being directly in touch with consumers?
Wholesaler, Retailer)
2. The word retail trade is derived from the French word     _______?     (Cut off, Cut on)
3. The retailer buys goods from___________?
(Producer, Wholesaler)
4. Retailer locates their business in convenient place.
(Yes, No)

Guided Practice

Answers

Independent practice And closure of the Lesson                    
Answer the following questions by yourself.
If you want to check whether it is right or wrong, You can go to another file and see whether your answers are correct

1. What is retail trade?
2. What are the features of retail trade?
3. What are the main functions of retail trade?

Answers