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

Question

Quizplus · Accepted Answer

The described technique is market-basket analysis, which involves analyzing transactions to identify patterns of items that are commonly purchased together. This information can be used to inform store layout and product placement.

Many Technologically Advanced Retailers Are Using a Technique to Analyze