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Question 371 - CSCP discussion

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A grocery store found that ground beef sales increased when burns were a featured sales item. This customer relationship management (CRM) technique is called:

A.
data mining
Answers
A.
data mining
B.
data trading
Answers
B.
data trading
C.
point-of-purchase (POP) promotion
Answers
C.
point-of-purchase (POP) promotion
D.
upselling.
Answers
D.
upselling.
Suggested answer: A

Explanation:

Data mining is the CRM technique used when a grocery store identifies a correlation between ground beef sales and buns being featured as a sales item. Data mining involves analyzing large datasets to discover patterns and relationships that can inform business decisions. By uncovering these insights, the store can strategically plan promotions and inventory to maximize sales. Data trading (B) involves exchanging data with other entities, point-of-purchase (POP) promotion (C) refers to marketing at the location of purchase, and upselling (D) is encouraging customers to purchase more expensive items or add-ons.

Berry, M. J. A., & Linoff, G. (2011). Data Mining Techniques: For Marketing, Sales, and Customer Relationship Management. Wiley.

Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.

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asked 16/09/2024
Kurt Onal
43 questions
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