Business of Retail - 1

Front

Other than in a stock room, where is a store's inventory kept? Options: on the sales floor, at the distribution center, at the manufacturer, in the office

Back

on the sales floor

Front

A retailer's total inventory is:

Back

All the inventory owned by the retailer regardless of its location

Front

A retailer's profit is: The amount the company gets to keep, The amount the company owes, The amount the company spends, The amount the company makes in sales

Back

The amount the company gets to keep

Front

A customer has $300 to spend on a gift and is considering buying either a product at Home Depot or a product at Kay Jewelers. What type of competitive relationship exists between the two retailers in this situation?

Back

Replacement Competitors

Front

A customer has $55 to spend on a gift and is considering a Apple's iPhone or a Samsung's Galaxy. What type of competitive relationship exists between the two retailers in this situation?

Back

Direct Competitors

Front

What type of competitive relationship exists between McDonald's and Popeye's when Ronde, Kobee, and Kaitlyn are considering going to either for lunch?

Back

Indirect Competitors

Front

What type of competitive relationship exists between Arby's and Panda Express?

Back

Indirect Competitors

Front

________ are physical goods that are bought and sold.

Back

Products

Front

_____ are the audience of retail stores—that is, the people who will buy things from the stores.

Back

Customers

Front

________ are intangible things that are sold by retailers.

Back

Services