User Account

All Pages

Problem regarding the market-basket analysis

Assignment Help Business Management
Reference no: EM131091392

Suppose you work at Costco or another major, national big-box store; you do a market-basket analysis and identify the 25 pairs of items in the store that have the highest lift and the 25 pairs that have the lowest lift. What would you do with this knowledge? Costco (or your big-box store) doesn't have salespeople, so upselling is not an option. What else might you do with information about these items lift? Consider advertising, pricing, item location in stores, and any other factor that you might adjust. Do you think the lift calculations are valid for all stores in the United States (or other country)? Why or why not? Are the 50 pairs of products with the highest and lowest lift the best place to focus your attention? What other 50 pairs of products might you want to consider? Explain.

Reference no: EM131091392

Questions Cloud

Reported net assets with a carrying amount : Patrick Corporation acquired 100 percent of O'Brien Company's outstanding common stock on January 1, for $550,000 in cash.
Rate development formulas : Explain the difference between underwriting and rating. What are the key elements that typically go into rate development formulas?
What are the compression ratio : 1. What are the compression ratio for S.I and C.I engines2. Define Scavenging3. What is meant by Pre-Ignition?
Find steady-state-capital stock per worker-output per worker : Consider an economy with the following Cobb-Douglas production function: Y = K^1/3 L^2/3. What is the per-worker production function? Assuming no population growth or technological progress, find the steady-state, capital stock per worker, output per..
Problem regarding the market-basket analysis : Suppose you work at Costco or another major, national big-box store; you do a market-basket analysis and identify the 25 pairs of items in the store that have the highest lift and the 25 pairs that have the lowest lift.
End of the pay period in which the overtime : Lidle Company needs time to calculate employees' overtime payments by the end of the pay period in which the overtime is worked. Can it pay the overtime payments with the following periods paycheck?
Why is the concept of elasticity useful to business : Elasticity is a measurement of how much a change in price of a product or service will affect a change in the quantity demanded or supplied of that same product or service. The product or service can be unit elastic, inelastic, or elastic. Why is the..
Effect on pricing policy can be profound and far reaching : Elasticity’s effect on pricing policy can be profound and far reaching. A poorly thought out price increase can drive profit down considerably. Likewise, a price cut might drive demand up to a level that the business cannot keep pace with thus disapp..
Description of data collection and analysis methods : Description of data collection and analysis methods. Strengthen and improve initial proposal. Description of expected research outcomes. Strengthen and improve initial proposal

Reviews

Write a Review

Business Management Questions & Answers

  An alarming drop in the earnings of microminds

Because of an alarming drop in the earnings of Microminds Ltd., Roger, the principal contract negotiator and president of the software development company, called a meeting to discuss productivity and customer satisfaction. At the meeting were Michae..

  Would you agree or disagree with the given statement

Would you agree or disagree with the following statement by writing expert William Zinsser? "Plain talk will not be easily achieved in corporate America. Too much vanity is on the line."

  Management developmentfind a recent article no more than a

management developmentfind a recent article no more than a year old that identifies ksas that will be critical for

  Formulate a communication system that will have the greatest

Formulate a communication system that will have the greatest impact on improving the situation, and specify the major reasons why your system will influence the employee behaviors for the better

  Importance of elements that make a good leader

What is the importance of understanding the elements or factors that make a good leader?

  Business ethics-moral agent

Illustrate the responsibility of the corporation as the moral agent.

  Employee turnover and retentionexplain how can a struggling

employee turnover and retentionexplain how can a struggling company retain their employees without losing them? for

  Strategic innovation

Strategic Innovation

  Spam is still in existence because spam still works

Spam is still in existence because spam still works. Take a stance on email marketing, for or against. Using the information from your text and from your experience, explain why email marketing works, or why it doesn't work. Keep in mind that ..

  Writing a business plan for a sandel business

Writing a business plan for a sandel business only 6 pages. Your group will research how to set up an online store at etsy.com. Each student will write a Business Plan for that business, using the guidelines at the Small Business Administration s..

  Is marcia required to have a registered office

Is Marcia required to have a registered office? If so, can she use her parents' home address and, does the office have to be open to the public - Does she have to display the company name and/or ACN/ABN

  Describe role of individual differences and traits

Leadership Challenge: Using Sources of Power Ethically - Describe the role of individual differences and traits in leadership and apply ethical reasoning skills and ethical theories to business situations

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd