Define the following - the departmental …

A consumer co-operative store is owned, managed and

operated by the consumers themselves. It is organised and incorporated as an association under the Co operative Societies Act. Its membership is voluntary and its capital is provided by the consumers by becoming shareholders. The store purchases goods in bulk directly from the manufacturers or wholesalers and sells them to its members at reasonable prices. The aim of the store is not maximise profits but to render service to the members.

(1) Departmental stores delegate the responsibility and authority to departmental heads for purchasing of commodities and for overseeing the sale in different sections of the stores.

(ii) Chain stores are able to purchase merchandise most economically, often going so far as to direct the goods to be manufactured to their specification. They employ highly skilled specialists in many executive tasks. They have the ability to experiment in one store and apply the results to many. By doing so, they spread risk over many locations. Advertising and sales promotion is more economic.