Contemporary Marketing (MindTap Course List)
17th Edition
ISBN: 9781305075368
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
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Question
Chapter 15, Problem 1ALR
Summary Introduction
To discuss: The examples of retailers that demonstrate the concept ‘Wheel of retailing’. Also, describe the stages and the current stages.
Wheel retailing refers to the method of offering low prices to the consumers than the charge of current suppliers by the new marketers to move upward.
Expert Solution & Answer
Explanation of Solution
Examples:
Products like cell phones, DVD (Digital Versatile Disk), a computer, and many more came with the lowest price and then they gradually increased.
The stages of wheel retailing are as follows:
- • Entry
- • Growth
- • Maturity
- • Decline
Currently product DVD is in decline stage, computer is in maturity stage, and cell phones are also in maturity stage.
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Students have asked these similar questions
Find some examples of retailers that demonstrate the conceptof the wheel of retailing. Explain the stages they have gonethrough and which stage they are in currently.
Do wholesaling intermediaries provide any ultimate value to customers, or do they just interfere with the process of retailing? Explain the reasons for your answer. What role has technology, including online shopping, played in retailing and wholesaling transactions?
Develop a chart to highlight the role of each of the four main elements of the retailing mix across the four stages of the retail life cycle.
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