EBK USING MIS
EBK USING MIS
10th Edition
ISBN: 9780134658919
Author: KROENKE
Publisher: YUZU
bartleby

Concept explainers

Expert Solution & Answer
Book Icon
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...

Blurred answer
Students have asked these similar questions
Q12- A three phase transformer 3300/400 V,has D/Y connected and working on 50Hz. The line current on the primary side is 12A and secondary has a balanced load at 0.8 lagging p.f. Determine the i) Secondary phase voltage ii) Line current iii) Output power Ans. (230.95 V, 99.11 A, 54.94 kW)
make corrections of this program based on the errors shown. this is CIS 227 .
Create 6 users: Don, Liz, Shamir, Jose, Kate, and Sal. Create 2 groups: marketing and research. Add Shamir, Jose, and Kate to the marketing group. Add Don, Liz, and Sal to the research group. Create a shared directory for each group. Create two files to put into each directory: spreadsheetJanuary.txt meetingNotes.txt Assign access permissions to the directories:  Groups should have Read+Write access Leave owner permissions as they are  “Everyone else” should not have any access   Submit for grade: Screenshot of  /etc/passwd contents showing your new users Screenshot of /etc/group contents showing new groups with their members Screenshot of shared directories you created with files and permissions
Knowledge Booster
Background pattern image
Computer Science
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
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Information Technology Project Management
Computer Science
ISBN:9781337101356
Author:Kathy Schwalbe
Publisher:Cengage Learning
Text book image
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781305971776
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Text book image
Management Of Information Security
Computer Science
ISBN:9781337405713
Author:WHITMAN, Michael.
Publisher:Cengage Learning,
Text book image
MIS
Computer Science
ISBN:9781337681919
Author:BIDGOLI
Publisher:Cengage
Text book image
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781285867168
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Text book image
Fundamentals of Information Systems
Computer Science
ISBN:9781305082168
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning