A Horizontal Retail Audit _____

question 11

Multiple Choice

A horizontal retail audit _____.

• A)identifies the relative importance of each retailing mix element
• B)focuses on separate functional elements
• C)evaluates the environment facing a retailer: the economy,demographics,competition,and consumers
• D)is always disguised

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Definitions:

Variety

The presence of multiple different items or options within a collection, offering a selection to choose from.

Average Inventory

The average amount of stock held by a company over a specified period, calculated to understand inventory levels and manage them efficiently.

Setup Times

The duration required to prepare equipment, machines, or systems for production or operation, including adjustments for new tasks or products.

Competitive Advantage

The attribute that allows an organization to outperform its competitors, often through superior quality, innovation, or efficiency.