Absolut vodka has developed into one of the largest spirit corporations in the world. The Swedish company’s campaign of “constant creativity” have caused it to perform strongly over the years. Absolut was founded in 1879 by Lars Olsson Smith, and by the time he was in his twenties, Smith controlled one-third of the Swedish vodka production by improving the production process and using local products (Pernod Ricard). Distilling this fine liquor in a country where vodka was already a rich tradition, Smith invented the process of continuous distillation, where the liquor is continuously distilled through its production. This ...
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A wheel of retailing can be defined as the process that is observed in the retail market when an originally established discount store advances its products and services in order to increase prices once it has established (Lehman, 2009). As it moves through the wheel of retailing, a discount retail business may develop into a higher end department store, leaving its former niche to be filled by newer discount businesses. Some retail businesses such as Wal-Mart have formed major representations of many businesses that have undergone the wheel of retailing for a long period. The theory of Wheel of retailing states that ...
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