Two very different distributions of responses to a 5-point rating scale can yield the same mean. Consider the following example showing response values for two different ratings. In the first example (Rating A) the Standard Deviation is zero because ALL responses were exactly the mean value. The individual responses did not deviate at all from the mean. In Rating B, even though the group mean is the same (3.0) as the first distribution, the Standard Deviation is higher.
The retail life cycle concept states that retail institutions--like the goods and services they sell--pass through identifiable life stages: introduction (early growth), growth (accelerated development), maturity, and decline.The direction and speed of institutional changes can be interpreted from this concept.et us examine the stages of the retail life cycle as they apply to individual institutional formats and show specific examples. During the first stage of the cycle (introduction), there is a strong departure from the strategy mixes of existing retail institutions.
Maturity Stage â During the maturity stage, the product is established and the aim for the manufacturer is now to maintain the market share they have built up. This is probably the most competitive time for most products and businesses need to invest wisely in any marketing they undertake.