Competitions are for events where you submit work, some of the work is accepted, and your work can win awards. All of these things are trackable within this Competition record.
Exhibitions are for one-off shows (either online or in real life) where your work is being shown for a specific amount of time.
Assigning Pieces in an Exhibition or Competition to a Location:
When creating a new Exhibition or Competition record, you can also choose to create a Location record for the Pieces accepted to this show. Simply check the box under Location Info.
All the Pieces in the Exhibition will be assigned to that Location for the specific start and end dates of the Exhibition.