Rishi is running a cake baking unit in order to expand his market share .he started predicting bread burgers and sandwiches etc which auxiliaries to trade can help him in this venture ?
Answers
Answer:
Transport, Banking and finance, warehousing, insurance, advertising and Packaging
Explanation:
1. Transport . Transportation carries goods from producers to traders and finally to consumers. It creates ‘places utility’.
2. Banking and Finance. Banks and financial institutions provide credit facility; loan etc. to provide finance for smooth flow of business activities. Rishi will require their services to take care of the financial aspects of his venture.
3. Warehousing. It refers to the holding of goods until they are finally ready to be consumed. Warehousing performs a useful function by matching supply with demand. It helps to make available the seasonally produced goods throughout the year. Warehousing creates ‘time utility’. Rishi will be needing to place his ingredients and will require warehousing.
4. Insurance. There are a number of risks in any business activity. These can be covered with the help of insurance companies.
5. Advertising. In order to find customers, Rishi has to inform the prospective customers about the utility and features of his business venture. This can be done using Advertising.
6. Packaging. Packaging removes hindrance of risk of spoilage, etc. In his business, this will help Rishi to deliver his food to customers in a much better manner and ensure customer satisfaction.
Regards,
Arfa