The best way to categorize retailers is:
A) by the U.S. Bureau of Census' three-digit North American Industrial Classification Systems (NAICS).
B) by the retailers' locations.
C) by the number of outlets the store maintains.
D) by the retailers' margins and turnover.
E) there is no single accepted method of classifying retail competitors.

Question

Quizplus · Accepted Answer

The retail industry is diverse and dynamic, making it difficult to classify retailers using a single method. Factors such as product lines, service levels, pricing strategies, market segments, and operational models vary widely, leading to the conclusion that there is no universally accepted method for classifying retail competitors.

The Best Way to Categorize Retailers Is