A fundamental assumption of the wheel of retailing theory is high customer loyalty.

Name: A fundamental assumption of the wheel of retailing theory is high customer loyalty.
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Question

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The fundamental assumption of the Wheel of Retailing theory is actually that new types of retailers enter the market with low status and low prices, eventually becoming more upscale and profitable, while existing retailers must adapt or fail. The theory does not necessarily assume high customer loyalty.

A Fundamental Assumption of the Wheel of Retailing Theory Is