Concise annotation of the given article Essay Example | Topics and Well Written Essays - 500 words

aphoristic annotation of the given article - Essay ExampleThe life cycle concept applied to products and inventorys (Davidson, Bates, and Bass, 1976) penalise a significant study that defined the concept of the retail life cycle. Prior to that, the key business relationship for retail development was the wheel of retailing concept.The main assumption in Browns (1991) retailing theory is that businesses normally start with low service / low price product mixes. The main motivation for shopping on this initial stage is price. As the wheel revolves, and it usually does, the stores start adding more services (such as credit, sales-support staff, display, etc.) When this happens, the store does not attract the consumers who buy based on price any more. The store then becomes secure service and supports higher prices.Stephen Browns article is a highly academic piece of work. This valuable theoretical research around the topic of retail change and evolution of retail institutions is d eeply credible, regarding the authors background. Brown is professor of selling Research at the University of Ulster, Newtownabbey, situated in Northern Ireland.