Many Technologically Advanced Retailers Are Using a Technique Called _____

question 145

Multiple Choice

Many technologically advanced retailers are using a technique called _____ 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.

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

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, indicative of a thriving economy.

Poor Societies

Communities characterized by a lack of financial resources and access to basic amenities, leading to widespread poverty.

Counteracting Globalization

Efforts aimed at resisting or managing the effects of globalization in order to preserve local cultures, economies, and environments.

Global Homogeneity

The process or state where cultures around the world become increasingly similar to one another, often due to globalization and the spread of Western culture.