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2.The retail life cycle concept states that retail institutions, like products and services, pass through identifiable life stages. a. Define these four stages and explain

2.The retail life cycle concept states that retail institutions, like products and services, pass through identifiable life stages.

a. Define these four stages and explain what strategic emphasis should be used by retailers in each stage.

b. Give an example of a fashion retailer that you have seen move through these stages and thatis now obsolete. Why did this retailer fail?

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