Question 1

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

Accepted Answer

On the sales floor

Answer

At the manufacturer

Answer

At the distribution center

Answer

in the office

Question 2

A retailer's total inventory is:

Accepted Answer

All inventory owned by the retailer regardless of its location

Answer

All inventory a retailer has on order

Answer

All inventory sold within the past year

Answer

All inventory available in the retailer's physical stores

Question 3

A retailer's profit is:

Accepted Answer

The amount the company gets to keep after expenses

Answer

The amount the company spends

Answer

The amount the company owes

Answer

The amount the company makes in sales

Question 4

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

Accepted Answer

Replacement competitors

Answer

Indirect competitors

Answer

Direct competitors

Answer

Rival competitors

Question 5

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?

Accepted Answer

Indirect competitors

Answer

Direct competitors

Answer

Rival competitors

Answer

Replacement competitors

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