Which of the following statements is true of the retail life cycle?
a) It explains how a retail outlet enters a market.
b) It represents the changes in a retailer's market share over time.
c) It explains the competition faced by retail outlets from high-status stores.
d) According to the retail life cycle, retail outlets enter a market as high-margin stores.
e) Retailers experience maximum profits in the accelerated-development stage.
Answer: B