Name the Four Actors of the IR System as Presented

question 47

Essay

Name the four actors of the IR system as presented in the text.

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Definitions:

Off-price Retailers

Retail stores that sell branded goods at lower prices than those typically charged by departmental stores or traditional retailers, often due to overproduction or closeouts.

Discount Prices

Lower than the standard price, often used as a promotional strategy to increase sales or clear out inventory.

Omnichannel Strategy

Involves integrating multiple methods of shopping available to consumers, such as online, in-store, and through mobile apps, to provide a seamless customer experience.

Multichannel Strategy

A marketing approach that combines various communication channels, such as retail stores, online, and mobile apps, to provide a seamless customer experience and broaden market reach.