INTERVIEW QUESTIONS MARKETING RETAIL MANAGEMENT DETAILS

Question: Explain briefly retail life cycle.

Answer: The retail life cycle is the process of growth and decline that retail outlets, like products, experience, which consists of the early growth, accelerated development, maturity and decline stages.
a) Innovation:- A new organization is born, it improves the convenience or creates other advantages to the final customers that differ sharply from those offered by other retailers. This is the stage of innovation, where the organization has a few competitors.
b) Accelerated Growth:- The retail organization faces rapid increases in sales. As the organization moves to the stage of growth, which is the stage of development, a few competitors emerge.
c) Maturity:- The organization still grows but competitive pressures are felt acutely from newer forms of retailing that tend to arise. Thus, the growth tends to decrease.
d) Decline:- The retail organization looses its competitive edge and there is a decline. In this stage, the organization needs to decline if it is still going to continue in the market. The rate of growth is negative, profitability declines further and overheads are high.

The retail life cycle is the process of growth and decline that retail outlets, like products, experience, which consists of the early growth, accelerated development, maturity and decline stages.
a) Innovation:- A new organization is born, it improves the convenience or creates other advantages to the final customers that differ sharply from those offered by other retailers. This is the stage of innovation, where the organization has a few competitors.
b) Accelerated Growth:- The retail organization faces rapid increases in sales. As the organization moves to the stage of growth, which is the stage of development, a few competitors emerge.
c) Maturity:- The organization still grows but competitive pressures are felt acutely from newer forms of retailing that tend to arise. Thus, the growth tends to decrease.
d) Decline:- The retail organization looses its competitive edge and there is a decline. In this stage, the organization needs to decline if it is still going to continue in the market. The rate of growth is negative, profitability declines further and overheads are high. Source: CoolInterview.com

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