There are five major components in product cycle: design, manufacturing, distribution, retail, and marketing management ( Figure 1 ). These five components composed a closed loop that is the trunk in global economics. Globalization shortens the distance between three components: design, manufacturing and distribution, and both the cost and the production time are reduced. On the other hand, modern logistic industry shortens the distance between two components: manufacturing and retail, and the distribution efficiency can be increased. However there is still lack of technologies developed to shorten the distance between two components: retail and marketing management. For instance, in addition to tracking sales to measure their salespeople’s performance via point of sales (POS), companies must figure out how to quantify and analyze customer behavior and sales knowledge for effective, efficient and adaptive marketing management.
Figure 1. Retail Product Cycle
Hong Kong is a service based
economy with the service sector accounting for 90% of
 The Hong Kong Retail Management Association, http://www.hkrma.org/en/library/index.html
Report on Monthly Survey of Retail Sales, Census and Statistics Department,
 Main Statistical Data in 2009, National Bureau of Statistics of China 2010.
 Communication and discussion with Mr. Vincent Fang, Legislative Councilor