Application of the product life cycle concept to retailing suggests that all types of retailers are in early market growth due to continually increasing family income.

Question

Quizplus · Accepted Answer

The application of the product life cycle concept to retailing suggests that different types of retailers may be at different stages in the life cycle. Additionally, factors such as changes in consumer preferences, economic conditions, and technological advancements can impact the growth or decline of different types of retailers. Therefore, it is not accurate to suggest that all retailers are in early market growth due to increasing family income.

Application of the Product Life Cycle Concept to Retailing Suggests