Business of Retail 1.2 Retail Operations Overview

Front

Other than in the stockroom, where is a store's inventory kept?

Back

on the sales floor

Front

A retailer's total inventory is:

Back

All inventory owned by the retailer, regardless of its location

Front

A retailer's profit is

Back

The amount the company gets to keep, after expenses

Front

A customer has $300 to spend on a gift and is considering buying either a product at Best Buy (Electronics store) or a product at Brooks Brothers (clothing store). What type of competitive relationship exists between the two retailers in this situation?

Back

Replacement Competitors

Front

A customer is hungry and can't decide whether to get a roast beef sandwich at Arby's or pick up Chinese food at Panda Express. What type of competitive relationship exists between the two retailers in this situation?

Back

Indirect Competitors