Complete the following using the terms listed.
-In a process called the _____,new retailers enter the market by offering lower prices made possible through reductions in service.
A)marketing intermediary
B)Test marketing
C)Brand insistence
D)Product life cycle
E)brand names
F)wholesaler
G)family brand
H)Brand awareness
I)Convenience products
J)product line
K)wheel of retailing
L)logistics

Question

Quizplus · Accepted Answer

The wheel of retailing theory suggests that new retailers enter the market by offering lower prices made possible through reductions in service, thereby creating a new retail format. This process is characterized by a cycle of growth in which new retailers enter the market with low prices and limited service, but eventually add more services and increase their prices, which leaves them vulnerable to new low-priced competitors entering the market.

Complete the Following Using the Terms Listed