Marketers of Retail Giants Such as Walmart Have Learned That

question 58

Multiple Choice

Marketers of retail giants such as Walmart have learned that people tend to buy certain products at the same time, for example, toothpaste and dental floss or paper towels and paper plates. Knowing this, Walmart will promote and display these products together. To uncover these customer purchasing patterns, marketers use

• A)data isolation.
• B)data mining.
• C)secondary data collection.
• D)sentiment mining.
• E)qualitative research.

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Definitions:

Major Steps

outlines the crucial stages or key milestones in a process, plan, or project that need to be accomplished to achieve a particular goal.

Odd-Even Pricing

Setting prices a few dollars or cents under an even number.

Customary Pricing

A pricing strategy where the price of a product or service is based on what is traditional or expected in the industry, rather than being determined by market dynamics or costs.

Everyday Lower Pricing

A pricing approach where businesses maintain consistently low prices for their products instead of depending on sales or markdowns.