Question

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

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

Answer 1

Customers can be classified as retail, wholesale, corporate, or individual based on their purchasing behavior and characteristics.

Step-by-step explanation:

Customers can be classified according to the 'retail' or 'wholesale' definition based on their purchasing behavior and characteristics. Here is how each option corresponds to a customer classification:

1. Retail: This option refers to customers who purchase goods or services for personal use. They usually buy products in small quantities and are the end consumers.
2. Wholesale: This option refers to customers who buy goods in large quantities from manufacturers or distributors with the purpose of reselling them to retailers or other businesses.
3. Corporate: This option is broad and can refer to a variety of customers depending on the context. It usually includes businesses, organizations, and institutions that make bulk purchases for operational or commercial purposes.
4. Individual: This option represents customers who purchase for personal use or small-scale consumption, similar to the 'Retail' category.