Question

How would you classify the following customers according to the 'retail' or 'wholesale' definition?

Option 1: Retail
Option 2: Wholesale
Option 3: Business
Option 4: Corporate

Answer 1

To classify customers as 'retail' or 'wholesale,' we need to understand the definitions of these terms. Retail refers to the sale of goods or services directly to individual consumers for their personal use. Wholesale refers to the sale of goods in large quantities to other businesses rather than individual consumers. Customers can be classified as retail, wholesale, business, or corporate based on their purchasing behaviors and purposes.

Step-by-step explanation:

To classify customers as 'retail' or 'wholesale,' we need to understand the definitions of these terms.

Retail: Retail refers to the sale of goods or services directly to individual consumers for their personal use. Examples include clothing stores, supermarkets, and restaurants.

Wholesale: Wholesale refers to the sale of goods in large quantities to other businesses rather than individual consumers. Examples include suppliers that sell products to retail stores or businesses that purchase supplies in bulk.

Based on these definitions, we can classify customers as follows:

Retail: Customers who make purchases for personal use.

1. Retail: Customers who make purchases for personal use.
2. Wholesale: Customers who buy goods in large quantities to sell them to others.
3. Business: Customers who purchase goods or services for their own business needs, but not for resale.
4. Corporate: Customers who represent larger organizations and may have specific requirements or contracts