Principles of Marketing (16th Edition)
16th Edition
ISBN: 9780133795028
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Chapter 13, Problem 13.5DQ
Summary Introduction
To determine: The similarities and differences between the merchant wholesalers and brokers and agents.
A broker is a firm or a single person who charges a commission or fee for performing sell and buy orders submitted by an investor. A broker also refers to act as an agent for customer and charges the commission fees for the services made.
An agent is an individual who has been legally authorized to act on behalf of another individual. They are employed in an organization to deal with third parties.
The merchant wholesalers are those who sell the goods to end users.
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