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.
The product life cycle can be divided into several stages characterized by the revenue generated by the product or range of products, such as a brand. The life cycle can be very short, as pertains to a product that is for an event, such as a Christmas toy, or very long such as a watch or a car. For most products, the beginning of the life cycle is the product development stage. Companies develop new products all the time and a small percentage of those reach the market.