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  • 47 terms

    Term:

    Wheel of Retailing

    Definition:

    The hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers and maintains profits by reducing or eliminating services. Once established, the innovator begins to add more services. Its prices rise making it vulnerable to new low-price retailers.

    • Marketing Exam #4
    • 47 terms
    • Vocabulary for Marketing Exam #4. Find, create, and access Marketing, flashcards with Course Hero.

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