Data Analytics Benefits Retailers by Accurately Predicting Changes in the External

question 205

Multiple Choice

Data analytics benefits retailers by accurately predicting changes in the external environment.

• A) accurately predicting changes in the external environment.
• B) allowing merchants to provide personalized, real-time messaging and promotions.
• C) eliminating the need for wholesaling and the associated markups that raise prices.
• D) shortening the retail life cycle.
• E) improving sales per square foot or same-store sales growth by providing access to alternate channels.

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Definitions:

Do Stage

Represents a phase in project management or process improvement where planned actions or strategies are executed to test their effectiveness or to implement solutions.

Action

In marketing, refers to the desired behavior or response a marketer wants from the audience, such as making a purchase or signing up for a newsletter.

Lagged Effect

A delayed response to a marketing or advertising campaign, where the impact on consumer behavior or sales becomes apparent after a period of time.

IMC Strategy

An approach to market communication that integrates and coordinates various promotional tools and channels to deliver a clear, consistent, and compelling message about an organization and its products.