MCS 1000 Lecture Notes - Lecture 15: Omnichannel, Category Management, Openair

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Archie Bonifacio

Document Summary

Lifestyle centre: an open-air cluster of specialty retailers, along with theatres, restaurants, fountains, play areas, and green spaces. Category management: an approach that assigns a manager with the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category. Wheel of retailing: new retail outlets enter the market as low-status, low-margin stores and gradually add embellishments that raise their prices and status. Retail life cycle: the process of growth and decline that retail outlets, like products, experience. Showrooming: consumers go to retailers to test products, but ultimately purchase the products from an online retailer.