What is the cycle that includes selection, allocation, distribution, selling, and markdowns?

The correct answer is the Retail Product Cycle. This cycle encompasses all key steps involved in managing products from selection to markdowns. It begins with the selection of products that will meet customer demand, followed by the allocation of those products to different locations or stores. Once products are in place, they are distributed to consumers through selling efforts. Eventually, products that do not sell as expected go through markdowns to encourage sales.

Understanding this cycle is crucial for retail professionals, as it guides inventory management and sales strategies to optimize profitability. The Retail Product Cycle emphasizes the entire journey of a product, from initial selection through its eventual clearance, allowing retailers to make strategic decisions at each stage to respond to market demands effectively.