Final answer:
A merchant who performs all service functions is known as a full-service wholesaler, providing an extensive range of services like inventory management, credit, and marketing support to manufacturers and retailers.
Step-by-step explanation:
A merchant who performs all of the service functions is known as a full-service wholesaler. This type of wholesaler provides a range of services for their clients, including inventory management, product delivery, credit, and marketing support. These wholesalers play a crucial role in the distribution process because they help manufacturers by taking over some of the marketing responsibilities, and they assist retailers by ensuring a steady supply of products.
Full-service wholesalers often have extensive storage facilities to manage large inventories and a fleet of transportation vehicles to ensure consistent delivery to retailers. They might also offer pre-sale and after-sale services and may assist retailers in setting up displays, training sales staff, and providing information about product features and benefits.
The role of a full-service wholesaler is vital in various industries, especially where products require significant support and service before and after sale, such as in the electronics or heavy machinery sectors.