Q1.

Explain the meaning and application of Various HR

related terminologies.

ANS :- Why name human resource management?

Human: refer to the skilled workforce in the organisation.

Resource: refer to limited availability or scarce.

Management: refer to maximise or proper utilisation and make best use of limited and a scarce
resource.

The success of any organization depends upon how it manages its resources. While several
resources arethe non–humanresource such as land, capital, and equipment, it is the human
resource and its management which is at the heart of an organization’s success.

Human Resource (HR) refers to all the people who work in an organization called personnel.
Human Resource Management refers to the organizational function which includes practices that
help the organization to deal effectively with its people during the various phases of the
employment cycle. HRM is management function concerned with hiring, motivating, and
maintaining people in an organisation. It focuses on people in the organisati

1.1 According to Lawrence Appley, “Working with, for and through people is the way in which a
manager accomplishes his job. Maintaining good human resources is a Manager’s
responsibility. Providing human satisfaction from work output and relationship is a Manager’s
obligation.”

1.2 In the words of Mr. NR Narayana Murthy, Chairman Emeritus, Infosys, “You must treat
your employees with respect and dignity because in the most automated factory in the world, you
need the power of human mind. That is what brings in innovation. If you want high quality minds
to work for you, then you must protect the respect and dignity.”

1.3 In the words of John F. Kennedy, “Our progress as a nation can be no swifter than our
progress in education. The human mind is our fundamental resource.”

3. Meaning and Definition

Essentially, the Human Resource Management (HRM) is a management function that deals with
recruiting, selecting, training and developing human resource in an organization. It
isconcerned with the”people” dimension in management. It includes activities focusing on the
effective use of human resources in an organization. It is concerned with thedevelopment of a
highly motivated and smooth functioning workforce. It also includes planning, acquiring,
developing, utilising and maintaining ‘human resources’ in theachievement of organizational
goals.

3.1 According to Edwin B. Flippo, “Human resource management is the planning, organizing,
directing, and controlling of the procurement, development, compensation, integration,

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maintenance and separation of human resources to the end that individual, organizational
and societial objectives are accomplished.”

3.2 The Indian Institute of Personnel Management defines HRM as, “Human resource
management is a responsibility of all those who manage people as well as being a description of
the work of those who are employed as specialists. It is that part of management which is
concerned with people at work and with their relationships within an enterprise. It applies not
only to industry and commerce but to all fields of employment.”

3.3 According to Tead and Metcaff, “Human resource management is the planning,
supervision, direction and co-ordination of those activities of an organization which contribute
to realising the definite purpose of that organization, with an animating spirit of co-operation
and with a proper regard for the well-being of all the members of the organization.”

3.4 Milkovich and Boudreau view HRM as, “A series of integrated decisions that form the
employment relationship; their quality contributes to the ability of the organizations and the
employees to achieve their objective.”

It is thus clear that human resource management is a specialized knowledge and practice
concerned with the management of human resources in an organization. It constitutes a
significant activity of the management. It attracts and selects capable men, organises them in
productive groups, develops their potential, gives them necessary motivation and maintains their
high morale.
4. Scope of HRM

The scope of HRM is indeed vast. All major activities in the working life of a worker -from the
time of his or her entry until he or she leaves- come under the purview of HRM.

4.1. According to Dale Yoder, the scope of human resource management consists of the
following functions:

 4.1.1. Setting general and specific management policy for organisational relationships,
and establishing and maintaining a suitable organisation for leadership and co-operation.
 4.1.2. Collective bargaining, contract negotiation, contract administration and grievance
handling.
 4.1.3. Staffing the organisation, finding, getting and holding prescribed types and number
of workers.
 4.1.4. Aiding in the self-development of employees at all levels providing opportunities
for personal development and growth as well as for acquiring requisite skill and
experience.
 4.1.5. Developing and maintaining motivation for workers by providing incentives.
 4.1.6. Reviewing and auditing manpower management in the organisation.
 4.1.7. Industrial relations research – carrying out studies designed to explain employee
behavior

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4.2. The Indian Institute of Personnel Management has described the scope of human
resource management into the following aspects:

4.2.1. The Labour or Personnel Aspect: It is concerned with manpower planning, recruitment,
selection, placement, induction, transfer, promotion, demotion, termination, training and
development, layoff and retrenchment, wage and salary administration (remuneration),
incentives, productivity, etc.

4.2.2. The Welfare Aspect: This aspect is concerned with working conditions and amenities such
as canteens, creches, rest rooms, lunch rooms, housing, transport, education, medical help,
health and safety, washing facilities, recreation and cultural facilities, etc.

4.2.3. The Industrial Relations Aspect: This is concerned with the company’s relations with the
employees. It includes union-management relations, joint consultation, negotiating, collective
bargaining, grievance handling, disciplinary actions, settlement of industrial disputes, etc.

All the above aspects are concerned with human element in industry as distinct from the
mechanical element.

5. Objectives of HRM

The primary objective of HRM is to ensure the availability of a competent and willing workforce
to an organization. Apart from this, there are other objectives too.

Specifically, HRM objectives are four fold: societal, organisational, functional, and personal.

5.1. Societal Objectives

The societal objectives are socially and ethically responsible for the needs and challenges of
society. While doing so, they have to minimize the negative impact of such demands upon the
organisation. The failure of organisations to use their resources for society’s benefit in ethical
ways may lead to restrictions. For example, the society may limit human resource decisions to
laws that enforce reservation in hiring and laws that address discrimination, safety or other such
areas of societal concern.

5.2. Organisational Objectives

The organisational objectives recognise the role of human resource management in bringing
about organisational effectiveness. Human resource management is not an in itself; it is only a
means to assist the organisation with its primary objectives. Simply stated the human resource
department exists to serve the rest of the organisation.

5.3. Functional Objectives

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Functional objectives try to maintain the department’s contribution at a level appropriate to the
organisation’s needs. Human resources are to be adjusted to suit the organisation ’s demands.
The department’s level of service must be tailored to fit the organisation it serves.

5.4. Personal Objectives

Personal objectives assist employees in achieving their personal goals, at least in so far as these
goals enhance the individual’s contribution to the organisation. Personal objectives of employees
must be met if they are to be maintained, retained and motivated. Otherwise, employee
performance and satisfaction may decline giving rise to employee turnover.

6. Functions of HRM

Human Resources management has an important role to play in equipping organizations to meet
the challenges of an expanding and increasingly competitive sector. Increase in staff numbers,
contractual diversification and changes in demographic profile which compel the HR managers
to reconfigure the role and significance of human resources management.

Human Resource or Personnel Department is established in most of the organisations, under the
charge of an executive known as Human Resource/Personnel Manager. This department plays an
important role in the efficient management of human resources.

Some of the major functions of human resource management are as follows:

 Managerial Functions

 Operative Function

 Advisory Function

6.1. Managerial Functions:

The Human Resource Manager is a part of the organisational management. So he must perform
the basic managerial functions of planning, organising, directing and controlling in relation to his
department. These functions are briefly discussed below:

6.1.1. Planning: To get things done through the subordinates, a manager must plan ahead.
Planning is necessary to determine the goals of the organisation and lay down policies and
procedures to reach the goals. For a human resource manager, planning means the determination
of personnel programs that will contribute to the goals of the enterprise, i.e., anticipating
vacancies, planning job requirements, job descriptions and determination of the sources of
recruitment.

The process of personnel planning involves three essential steps.

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6.1.1.1. A supply and demand forecast for each job category is made. This step requires
knowledge to both labour market conditions and the strategic posture and goals of the
organization.

6.1.1.2. Net shortage and excess of personnel by job category are projected for a specific time
horizon.

6.1.1.3. Plans are developed to eliminate the forecast shortages and excess of particular
categories of human resources.

6.1.2. Organizing: Once the human resource manager has established objectives and developed
plans and programs to reach them, he must design and develop organisation structure to carry out
the various operations. The organisation structure basically includes the following:

6.1.2.1. Grouping of personnel activity logically into functions or positions;

6.1.2.2. Assignment of different functions to different individuals;

6.1.2.3. Delegation of authority according to the tasks assigned and responsibilities involved;

6.1.2.4. Co-ordination of activities of different individuals.

6.1.3. Directing: The plans are to be pure into effect by people. But how smoothly the plans are
implemented depends on the motivation of people. The direction function of the personnel
involved encouraging people to work willingly and effectively for the goals of the enterprise.

In other words, the direction function is meant to guide and motivate the people to accomplish
the personnel programs. The personnel manager can motivate the employees in an organisation
through career planning, salary administration, ensuring employee morale, developing cordial
relationships and provision of safety requirements and welfare of employees.

The motivational function poses a great challenge for any manager. The personnel manager must
have the ability to identify the needs of employees and the means and methods of satisfy those
needs. Motivation is a continuous process as new needs and expectations emerge among
employees when old ones are satisfied.

6.1.4. Controlling: Controlling is concerned with the regulation of activities in accordance

with the plans, which in turn have been formulated on the basis of the objectives of the
organisation. Thus, controlling completes the cycle and leads back to planning. It involves the
observation and comparison of results with the standards and correction of deviations that may
occur.

Controlling helps the personnel manager to evaluate the control the performance of the personnel
department in terms of various operative functions. It involves performance appraisal, critical
examination of personnel records and statistics and personnel audit.

6.2. Operative Functions:

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The operative functions are those tasks or duties which are specifically entrusted to the human
resource or personnel department. These are concerned with employment, development,
compensation, integration and maintenance of personnel of the organisation. The operative
functions of human resource or personnel department are discussed below:

6.2.1. Employment: The first operative function of the human resource of personnel
department is the employment of proper kind and number of persons necessary to achieve the
objectives of the organisation. This involves recruitment, selection, placement, etc. of the
personnel.

Before these processes are performed, it is better to determine the manpower requirements both
in terms of number and quality of the personnel. Recruitment and selection cover the sources of
supply of labour and the devices designed to select the right type of people for various jobs.
Induction and placement of personnel for their better performance also come under the
employment or procurement function.

6.2.2. Development: Training and development of personnel is a follow up of the employment

function. It is a duty of management to train each employee property to develop technical skills
for the job for which he has been employed and also to develop him for the higher jobs in the
organisation. Proper development of personnel is necessary to increase their skills in doing their
jobs and in satisfying their growth need.
For this purpose, the personnel departments will device appropriate training programs. There are
several on- the-job and off-the-job methods available for training purposes. A good training
program should include a mixture of both types of methods. It is important to point out that
personnel department arranges for training not only of new employees but also of old employees
to update their knowledge in the use of latest techniques.

6.2.3. Compensation: This function is concerned with the determination of adequate and
equitable remuneration of the employees in the organisation of their contribution to the
organisational goals. The personnel can be compensated both in terms of monetary as well as
non-monetary rewards.
Factors which must be borne in mind while fixing the remuneration of personnel are their basic
needs, requirements of jobs, legal provisions regarding minimum wages, capacity of the
organisation to pay, wage level afforded by competitors etc. For fixing the wage levels, the
personnel department can make use of certain techniques like job evaluation and performance
appraisal.

6.2.4. Maintenance (Working Conditions and Welfare): Merely appointment and training of
people is not sufficient; they must be provided with good working, conditions so that they may
like their work and workplace and maintain their efficiency. Working conditions certainly
influence the motivation and morale of the employees. These include measures taken for health,
safety, and comfort of the workforce. The personnel department also provides for various
welfare services which relate to the physical and social well-being of the employees. These may
include provision of cafeteria, rest rooms, counseling, group insurance, education for children of
employees, recreational facilities, etc.

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6.2.5. Motivation: Employees work in the organisation for the satisfaction of their needs. In
many of the cases, it is found that they do not contribute towards the organisational goals as
much as they can. This happens because employees are not adequately motivated. The human
resource manager helps the various departmental managers to design a system of financial and
non-financial rewards to motivate the employees.

6.2.6. Personnel Records: The human resource or personnel department maintains the records
of the employees working in the enterprise. It keeps full records of their training, achievements,
transfer, promotion, etc. It also preserves many other records relating to the behaviour of
personnel like absenteeism and labour turnover and the personnel programs and policies of the
organisation.

6.2.7. Industrial Relations: These days, the responsibility of maintaining good industrial
relations is mainly discharged by the human resource manager. The human resource manager can
help in collective bargaining, joint consultation and settlement of disputes, if the need arises.
This is because of the fact that he is in possession of full information relating to personnel and
has the working knowledge of various labour enactments.
The human resource manager can do a great deal in maintaining industrial peace in the
organisation as he is deeply associated with various committees on discipline, labour welfare,
safety, grievance, etc. He helps in laying down the grievance procedure to redress the grievances
of the employees. He also gives authentic information to the trade union leaders and conveys
their views on various labour problems to the top management.

6.2.8. Separation: Since the first function of human resource management is to procure the
employees, it is logical that the last should be the separation and return of that person to society.
Most people do not die on the job. The organisation is responsible for meeting certain
requirements of due process in separation, as well as assuring that the returned person is in as
good shape as possible. The personnel manager has to ensure the release of retirement benefits to
the retiring personnel in time.

6.3. Advisory Functions:

Human resource manager has specialised education and training in managing human resources.
He is an expert in his area and so can give advice on matters relating to human resources of the
organisation. He offers his advice to:

6.3.1. Advised to Top Management: Personnel manager advises the top management in
formulation and evaluation of personnel programs, policies and procedures. He also gives advice
for achieving and maintaining good human relations and high employee morale.

6.3.2. Advised to Departmental Heads: Personnel manager offers advice to the heads of
various departments on matters such as manpower planning, job analysis and design,
recruitment and selection, placement, training, performance appraisal, etc.

The functions are responsive to current staffing needs, but can be proactive in reshaping
organizational objectives. All the functions of HRM are correlated with the core objectives of
HRM (Table 1).

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For example- Personal objectives is sought to be realized through functions like remuneration,
assessment etc.

HRM Objectives Supporting Functions

Societal Objectives 1.Legal compliance2.Benefits3.Union Management relations

Organizational 1.Human resource planning2.Employee relations3.Selection4.Training and

Objectives development5.Appraisal6.Placement7.Assessment

Functional
1.Appraisal2.Placement3.Assessment
Objectives

Personal Objectives 1.Training 2. Appraisal 3. Placement 4. Compensation 5. Assessment

Summary

 Human Resource Management is the management function that helps the managers to
plan, recruit, select, train, develop, remunerate and maintain members for an organization.

 Maintaining good human resources is the manager’s responsibility. Providing human

satisfaction from work output and relationship is a manager’s obligation

 The scope of HRM is very large. All major activities in the working life of a worker i.e.
from the time of his or her entry until he or she leaves the organisation comes under the purview
of HRM.

 HRM has four objectives of societal, organizational, functional and personal

development.

 HR manager performs three functions within organizations like managerial, operative and
advisory functions.

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Q2. Describe the benefits and challenges of
effective Multi Channel Retailing.

ANS :- What is multichannel retailing?

Multichannel retailing is a business model that offers customers different sales channels.
These channels include brick & mortar stores, eCommerce stores, marketplaces like Amazon
or Walmart, and social media platforms like Facebook Marketplace and Pinterest.

66% of online buyers rely on more than one channel before they can make a purchase.
Research done by Bazaarvoice indicates that channel loyalty is now a thing of the past.

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Amazon shoppers compare prices and ratings on different channels before they decide to
buy. Here is the breakdown;

 For Walmart its 46%, across major consumer electronic websites

45%, on Target 40%, home improvement websites 39%, and branded
websites 39%
Again, a report released by IDC indicates that multichannel shoppers spend more money
when shopping;

 30% higher (LTV) lifetime value than single-channel shoppers.

 Up to 10% loyal customer profitability.
 15-35% higher value transaction.

How can a business benefit from multichannel retailing?

79% of smartphone users have made an online purchase through their phone in the last six
months. 82% want to start their catalog selection on any channel.

Retail embracing multichannel shopping in this modern technology with over 1.5 billion online
and growing who spend around 3.5 hours on their smartphones, come so many benefits with
the primary being; growth of their business. Here are some benefits of multichannel retailing;

1. Target customers across their buyer’s journey

Understanding your customer’s journey till they purchase your products is critical in this age of
fierce competition online.

A buyer won’t buy immediately from you when they see your product for the first time. For
instance, a customer sees your product on Instagram, is promoted by an influencer, or through
a Facebook ad.

6 out of 10 consumers start the online product searches on Amazon. Also, 48% of product
searches like “best product” begin on Google search engine, making the most attractive
platform for retailers to optimize.

Ensuring your online store has a multichannel approach from your website to the top
marketplace and social media branding, you can know where your target customers are
buying from most, so your focus more on that platform.

Again, you can track prospective buyers across the buyer’s journey till they convert.

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2. Better data collection for sales optimization

From offline with your physical store, third-party to your online store, a vast amount of data gets
generated every day.

Doing data analytics for your business comes with lots of benefits. For example, you get to use
the data to predict your market trends and improve customer experience.

In this modern commerce, speed and convenience are the main factors for online stores to
stay ahead of the competition.

With enough data collected from different sales channels for your product, you can know your
customer expectations like fast delivery or easy returns to build trust in your customer service.

3. Leverage the marketplace to increase sales

53% of units sold on Amazon in Q2 2020 were from third-party sellers. With over 300 million
active users on the platform, you should create a store on the platform if you haven’t.

Other platforms like eBay, Etsy, and now Walmart have enormous potential to generate your
business sales. One single-channel doesn’t scale anymore.

You don’t have to sell your product on only one marketplace when you can sell as many with a
simple built for your integration software.

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What are the challenges of multichannel retailing?
Multichannel shopping comes with complex challenges that most online stores might find
costly to solve.

Here are some of them;

1. Cross-channel branding and messaging

How you position your eCommerce store on social media channels or marketplaces needs to
match your core messaging and branding seamlessly.

However, these platforms limit how you control your messaging. Again, if you are promoting a
new product, you need to paint the right picture to a new audience, from your product
promotion to complaints handling.

To get it right the first time, you must keep each platform’s requirements on a strategy and
adjust your messages to deliver the desired results. Here is a list of examples like Oasis and
Apple; you can shadow how they articulate their brand across multiple channels.

2. Inventory management

To keep up with the inventory of sales across multiple channels is critical to your business
success. And building an inventory management system for your online store when starting is
expensive.

You need a system to keep track of factors like;

 Stock and sells depending on the supply and demand of each product.
 Visibility of all inventory in the multiple warehouses
 Seamless integration with multiple sales channels when scaling.
 Shipment tracking and returns.
As a merchant, you can get this built-for-you system from NextSmartShip that you integrate
with your store without any software background.

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With NextSmartShip, you get to keep track of all these factors from a dashboard on your tablet
or desktop screen.

Additionally, you gain insights on how to grow your business from the data collected by our
Inventory Management System (IMS) across all significant multichannel platforms like
Amazon, Shopify, eBay, or Etsy that your eCommerce is selling on.

3. Customer service experience

Nurturing and supporting your customers with any issues is challenging with multichannel
retailing. Every online marketplace has a different way of handling customer service.

Mapping your customer journey for every channel is essential. Always look for opportunities to
delight your customers as an instant response to complaints.

This goes a long way to build customer loyalty. Check this blog by Shopify on mapping your
customer’s journey.

Again them being giant companies, they may not reach every customer’s complaint. You need
to hire the right customer service team or use automation tools.

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Q3. Explain the function and Economic significance of
Retailing.

ANS :- What is Retailing?

Retailing encompasses those business activities involved with the sale of goods and
services to the final consumer for personal, family, or household use.
Retailing is the final stage in a channel of distribution. Retailing functions are performed
by any firm selling merchandise or providing services to the final consumer.

Retailing Definition
According to Kotler, “Retailing includes all the activities involved in selling goods or
services to the final customers for personal, non-business use.”
Retailing is the activity of selling goods and services to last level consumers for their use.
It is concerned with getting goods in their finished state into the hands of customers who
are prepared to pay for the pleasure of eating, wearing or experiencing particular product
items.
Retailing is all about the distribution of goods and services because retailers play a key
role in the route that products take after originating from a manufacturer, grower or
service-provider to reach the person who consumes.

Retailing is also one of the key elements of a marketing strategy facilitating the targeting
process, making sure that a product reaches particular groups of consumers. It is
important in a marketing strategy to match the arena in which a product is purchased to
the benefits and characteristics of the product itself and its price.

Functions of Retailing
1. Understanding the Needs of Consumers
2. Buying and Assembling
3. Breaking the Bulk
4. Warehousing or Storing
5. Selling
6. Credit Facilities
7. Risk Bearing
8. Grading and Packing
9. Collection and Supply of Market Information
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 10. Helps in Introducing New Products
11. Window Display and Advertising
Understanding the Needs of Consumers
Knowing and understanding customer needs is at the centre of every successful business.
Therefore, a retailer should clearly understand needs of his target customers. Every
retailer should know the reason for their customers to buy from them and not from their
competitors. This is called Unique Selling Proposition {USP}.

USP can change as the business or market changes. A retailer can have different USPs for
different types of customer.

Buying and Assembling

A retailer deals in different variety of goods which he purchases from different
wholesalers for selling to the consumers. He tries to locate best and economical source of
the supply of goods.

Breaking the Bulk

Manufacturers normally send their products in bulk (whole cases or cartons) to retailers
to minimize transportation cost. As the retailers sell goods in smaller quantities, they
should break large quantities into convenient smaller quantities. This process is called
breaking the bulk.

Warehousing or Storing
After the assembly of goods from different suppliers, the retailers preserve them in-store
and supply these goods to the consumers as and when required by them. The goods are
kept as reserve stocks in order to ensure uninterrupted supply to the consumers.

Selling
The end objective of the retailer is to sell the goods to consumers. He undertakes various
methods to sell goods to the ultimate consumers.

Credit Facilities
He caters to the needs of the customers even by supplying them goods on credit. He bears
the risk of bad debts on account of non–payment of amount by the customers.

Risk Bearing
A retailer has to bear different type of risks in relation to goods. While in stores, goods
are exposed to various risks like deterioration in quality, spoilage and perishability etc.

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The products are confronted to natural risks viz., fire, flood, earthquake and other natural
calamities. Other type of risks like change in customers tastes also adversely affects the
sales.

Grading and Packing

The retailer grades the goods which are left ungraded by the manufacturers and the
wholesalers. He packs the goods in small packages and containers for the convenience of
the customers.

Collection and Supply of Market Information

The retailers are in direct touch with the consumers. They gather invaluable information
with regard to likes dislikes tastes and demands of the consumers and pass on this
information to the wholesales and the producers which are very helpful to them.

Helps in Introducing New Products

Without the services of retailers, new products cannot be introduced properly in the
market. This is so because a retailer has a direct link with consumer. He can explain
nicely about the utility and the characteristics of a new product to the customer.

Window Display and Advertising

The retailer displays the products in show windows in order to attract customers. This
leads to immense publicity for the product.

Social and Economic Importance of

Retailing
The social and economic significance of retailing is explained under the following heads.

1. Social Responsibility
2. Retail Sales
3. Employment
4. Global Retailers
Social Responsibility

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Retailers are socially responsible businesses. Corporate social responsibility describes the
voluntary actions taken by a company to address the ethical, social, and environmental
impacts of its business operations and the concerns of its stakeholders.

Retail Sales
Retailing affects every facet of life. Just think of how many daily contacts you have with
retailers when you eat meals, furnish your apartment, have your car fixed, and buy
clothing for a party or job interview.

American retail sales are over $3.6 Trillion for 2012, but even this sales level
underestimates the impact of retailing because it does not include the retail sales of
automobiles and repairs.

Employment
Retailing also is one of the nation’s largest industries in terms of employment. More than
25 million people were employed in retailing-approximately 18 per cent of the non-
agricultural U.S. workforce.

Global Retailers
Retailing is becoming a global industry, as more and more retailers pursue growth by
expanding their operations to other countries. Large retail firms are becoming
increasingly international in the geographical scope of their operations.

Amway, Avon, Ace Hardware, and Inditex (Zara) operate in more than 20 countries.

Characteristics of Retailer
The followings are some of the essential characteristics of a retailer:

• He is regarded as the last link in the chain of distribution.

• He purchases goods in large quantities from the wholesaler and sell in small quantity to
the consumer.

• He deals in general products or a variety of merchandise.

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• He develops personal contact with the consumer.

• He aims at providing maximum satisfaction to the consumer.

• He has a limited sphere in the market.

Functions of Retailer
Retailers perform a number of functions. These are :

 The retailer buys a variety of products from the wholesaler or a number of

wholesalers. He thus performs two functions like buying goods and assembling
of goods.

 The retailer performs storing function by stocking the goods for a consumer.

 He develops personal contact with the consumers and gives them goods on
credit.

 He bears the risks in connection with the Physical Spoilage of goods and fall in
price. Besides he bears risks on account of fire, theft, deterioration in the
quality and spoilage of goods.

 He resorts to standardization and grading of goods in such a way that these are
accepted by the customers.

 He makes arrangement for delivery of goods and supply valuable market

information to both wholesaler and the consumer.

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