EBK USING MIS
10th Edition
ISBN: 9780134658919
Author: KROENKE
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Concept explainers
Expert Solution & Answer
Chapter 9, Problem 9.22MML
Explanation of Solution
Retailer’s role:
As a retailer, one’s role in the organization is to provide ideas on how to increase sales. This is achieved by market analysis, which can be done using two approaches; they are,
- Recently (R), Frequency (F), and Money (M) approach and
- Market basket analysis.
Usage of RFM and market basket approach to increase sales:
RFM approach:
RFM approach deals with Recently (R), Frequency (F), and Money (M), which states the following:
- How recently customers purchased the goods?
- How often do the customers purchase goods?
- How much do they spend on goods?
Customer satisfaction using RFM model:
Segmenting the customer needs using just one parameter will not work every time and that is the reason RFM model can work efficiently for an online sports goods retailer.
By getting these details, it is possible to determine what the customers are actually looking for.
- With these details, the organization can segment the customers such as promising customers, loyal customers, recent customers, and so on...
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What is the worst case time complexity of the following algorithm
for i = 1 to x do
for j = 2^((i-1)x) to 2^(in) do
print(i,j)
Prove for each pair of expression f(n) and g(n) whether f(n) is big O, little o Ω,ω or Θ of g(n). For each case it is possible that more than one of these conditions is satisfied:1. f(n) =log(n2^n), g(n) = log(sqrt(n)2^(n^2))2. f(n) =nsqrt(n) +log(n^n), g(n) =n + sqrt(n)logn
I need to make a parallel version of this sequential code
Chapter 9 Solutions
EBK USING MIS
Ch. 9.3 - Prob. 1EGDQCh. 9.3 - Prob. 2EGDQCh. 9.3 - Prob. 3EGDQCh. 9.3 - Prob. 4EGDQCh. 9.6 - Prob. 1BFSQCh. 9.6 - Prob. 2BFSQCh. 9.6 - Prob. 3BFSQCh. 9.6 - Prob. 4BFSQCh. 9.9 - Prob. 1SGDQCh. 9.9 - Prob. 2SGDQ
Ch. 9.9 - Prob. 3SGDQCh. 9.9 - Prob. 4SGDQCh. 9.9 - Prob. 5SGDQCh. 9.9 - Prob. 9.1ARQCh. 9.9 - Prob. 9.2ARQCh. 9.9 - Prob. 9.3ARQCh. 9.9 - Prob. 9.4ARQCh. 9.9 - Prob. 9.5ARQCh. 9.9 - Prob. 9.6ARQCh. 9.9 - Prob. 9.8ARQCh. 9.9 - Prob. 9.9ARQCh. 9 - Prob. 9.1UYKCh. 9 - Prob. 9.2UYKCh. 9 - Prob. 9.3UYKCh. 9 - Prob. 9.4UYKCh. 9 - Prob. 9.5UYKCh. 9 - Prob. 9.6UYKCh. 9 - Prob. 9.7UYKCh. 9 - Prob. 9.8UYKCh. 9 - Prob. 9.9CE9Ch. 9 - Prob. 9.1CE9Ch. 9 - Prob. 9.11CE9Ch. 9 - Prob. 9.12CE9Ch. 9 - Prob. 9.13CE9Ch. 9 - Prob. 9.14CE9Ch. 9 - Prob. 9.15CE9Ch. 9 - Prob. 9.16CS9Ch. 9 - Prob. 9.17CS9Ch. 9 - Prob. 9.18CS9Ch. 9 - Prob. 9.19CS9Ch. 9 - Prob. 9.22MML
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.Similar questions
- I need to make a parallel version of this sequential code.arrow_forwardBenefits of using arrays as instance variables: What are the advantages of incorporating arrays as instance variables within a class? Initializing and managing arrays: How do you initialize and manage arrays within class constructors and mutators (setters)? Example of using arrays as instance variables: Share an example where you have used arrays as instance variables and discuss its application in a real-world scenario. Common mistakes with arrays as instance variables: What are some common mistakes to avoid when working with arrays as instance variables? Information hiding violations: What is the potential violation of information hiding when using arrays as instance variables? How can this be resolved?arrow_forwardDo you think that computers should replace teachers? Give three references with your answer.arrow_forward
- Is online learning or face to face learning better to teach students around the around the world? Give reasons for your answer and provide two references with your response. What are benefits of both online learning and face to face learning ? Give two references with your answer. How does online learning and face to face learning affects students around the world? Give two references with your answer.arrow_forwardExplain Five reasons if computers should replace teachers. Provide three references with your answer. List three advantages and three disadvantages face to face learning and online learning may have on children. Provide two references with your answer.arrow_forwardYou were requested to design IP addresses for the following network using the address block 10.10.10.0/24. Specify an address and net mask for each network and router interfacearrow_forward
- For the following network, propose routing tables in each of the routers R1 to R5arrow_forwardFor the following network, propose routing tables in each of the routers R1 to R5arrow_forwardUsing R language. Here is the information link. http://www.cnachtsheim-text.csom.umn.edu/Kutner/Chapter%20%206%20Data%20Sets/CH06PR18.txtarrow_forward
- Using R languagearrow_forwardHow can I type the Java OOP code by using JOptionPane with this following code below: public static void sellCruiseTicket(Cruise[] allCruises) { //Type the code here }arrow_forwardDraw a system/level-0 diagram for this scenario: You are developing a new customer relationship management system for the BEC store, which rents out movies to customers. Customers will provide comments on new products, and request rental extensions and new products, each of which will be stored into the system and used by the manager for purchasing movies, extra copies, etc. Each month, one employee of BEC will select their favorite movie pick of that week, which will be stored in the system. The actual inventory information will be stored in the Entertainment Tracker system, and would be retrieved by this new system as and when necessary. Example of what a level-0 diagram looks like is attached.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Information Technology Project ManagementComputer ScienceISBN:9781337101356Author:Kathy SchwalbePublisher:Cengage Learning
Principles of Information Systems (MindTap Course...Computer ScienceISBN:9781305971776Author:Ralph Stair, George ReynoldsPublisher:Cengage Learning
Management Of Information SecurityComputer ScienceISBN:9781337405713Author:WHITMAN, Michael.Publisher:Cengage Learning,
Principles of Information Systems (MindTap Course...Computer ScienceISBN:9781285867168Author:Ralph Stair, George ReynoldsPublisher:Cengage Learning
Fundamentals of Information SystemsComputer ScienceISBN:9781305082168Author:Ralph Stair, George ReynoldsPublisher:Cengage Learning
Information Technology Project Management
Computer Science
ISBN:9781337101356
Author:Kathy Schwalbe
Publisher:Cengage Learning
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781305971776
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Management Of Information Security
Computer Science
ISBN:9781337405713
Author:WHITMAN, Michael.
Publisher:Cengage Learning,
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781285867168
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Fundamentals of Information Systems
Computer Science
ISBN:9781305082168
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning