Question
Have you ever asked yourselves why investment firms advertise in golf magazines and sellers of music in magazines for female populations that are 50+ year
Have you ever asked yourselves why investment firms advertise in golf magazines and sellers of music in magazines for female populations that are 50+ year old? This has to do a lot with market basket analysis and association rules analysis. Affluent people tend to play golf and grandmothers make up a significant segment of the population that purchases music fro their grandkids. Market basket analyses are behind the decisions to sell, say shampoo in a store, together with a coupon for detergent, for example, or other similar decisions that may not make 'sense' or are readily obvious at a first glance. Can you share other examples that help businesses extend the message about their products or services based on market basket analysis? Please describe the scenarios and provided a brief explanation.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started