Many Technologically Advanced Retailers Are Using a Technique to Analyze

question 153

Multiple Choice

Many technologically advanced retailers are using a technique to analyze the huge amounts of data collected through their point-of-purchase scanning equipment.The analysis looks for products that are commonly purchased together to help retailers merchandise their stores to place products in the right places.What is this technique?

• A) market-basket analysis
• B) market cross-tabulations
• C) product/customer correlation analysis
• D) customer lifestyle analysis

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Definitions:

Market Characteristics

Features or attributes of a market, including its size, growth rate, competitiveness, and customer demographics.

Competitors

Entities that contest with others for the same objective, such as market share or recognition.

Real Potential

The genuine capacity or likelihood for success, growth, or development, often based on tangible factors like market demand or unique capabilities.

Asset-Intensive

Describes businesses or industries that require significant investments in physical assets, such as machinery, plants, or equipment, to operate.