Asked by Peter Kervin on Jul 04, 2024
Verified
Marketers of retail giants such as Walmart have learned that people tend to buy certain products at the same time, for example, toothpaste and dental floss or paper towels and paper plates. Knowing this, Walmart will promote and display these products together. To uncover these customer purchasing patterns, marketers use
A) data isolation.
B) data mining.
C) secondary data collection.
D) sentiment mining.
E) qualitative research.
Purchasing Patterns
Behavioral trends or habits of consumers in acquiring goods or services, including frequency, timing, and preferences.
Retail Giants
Large and dominant companies in the retail industry known for their extensive market reach and influence.
Data Mining
The process of analyzing large sets of data to discover patterns, trends, and useful information that can inform decision-making.
- Comprehend the value of data mining and big data in exposing consumer tendencies and optimizing business plans.
Verified Answer
Learning Objectives
- Comprehend the value of data mining and big data in exposing consumer tendencies and optimizing business plans.
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