Final answer:
Lighting-One is a national retailer-sponsored cooperative that allows member retailers to combine their purchasing power and plan joint marketing and pricing strategies, especially beneficial with advancements like LED lighting fixtures.
Step-by-step explanation:
Lighting-One is a national retailer-sponsored cooperative. This cooperative structure enables its member retailers, who specialize in selling lighting fixtures, such as LED lighting fixtures, to consolidate their purchasing power when buying from wholesalers. This collaboration not only results in cost savings but also facilitates joint marketing and pricing strategies, which are crucial for staying competitive in the industry. Indeed, with technological advancements that include convenient features like easily changing colors without needing a ladder, the lighting industry is experiencing significant growth and evolution.
Lighting-One is a national retailer-sponsored cooperative that allows its members, retailers of lighting fixtures, to concentrate their buying power through wholesalers and plan collaborative promotional and pricing activities. In a retailer-sponsored cooperative, retailers join together to form an organization that collectively purchases inventory, advertises, and negotiates with suppliers. This type of cooperative enables retailers to leverage their combined resources and increase their competitiveness in the market.