The document discusses the evolution of business strategies over three stages: 1) the pioneering stage focused on product differentiation and individual customer needs, 2) the competitive stage emphasized low-cost mass production to meet demand, and 3) the retentive stage aims to maintain market share through product diversification and other strategies during economic downturns. It also examines how business strategies must adapt to changing economic conditions like prosperity and depression.

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product&differentiation
buying motives
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14. mass 
production
manufacturing costs

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prosperity
depression
down_swing

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21. pioneering stage 
competitive stage 
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