Question

Nicole has been wanting to open her own business for many years. After much saving and a loan from the bank, she was able to open up her own store. This store features upscale jewelry, footwear, and clothing for professional women. She uses a premium pricing strategy to demonstrate the quality of her products. As time passed, she adopted other product lines including luggage and beauty products. Nicole has developed strong relationships with suppliers so that new orders come relatively quickly. Nicole distinguishes herself from the competition with the high level of service at her store. Her workers are trained to greet customers within fifteen seconds of them entering the store. She also gives her employees permission to take whatever time needed to make sure that customer needs are met. Refer to Scenario 15.1. Based upon the description, Nicole is engaging in _____________.

Answer 1

Answer: retailing

Explanation:

From the information given, Nicole is engaging in retailing. Retailing, is the selling of goods and services to the consumers.

In retailing, the retailer buys from the producer or whilesaler and then sells in individual units to the customers. Since Nicole has developed strong relationships with suppliers so that new orders come relatively quickly and then sells to the customers, she's a retailer.