Question

The purpose of is to determine what products customers purchase together with other products

Answer 1

Thank you for this important question.

The purpose of market basket analysis is to determine what products customers purchase together with other products
This is a way to decide for the marketing policy of the firm/company. This helps decide the goods to be produced and the target audiences. 

Answer 2

The purpose of market basket analysis is to determine what products customers purchase together with other products

Explanation:

• The main purpose of Market Basket Analysis is to make an assessment of the buying power and actions of the customers. It is method that determines the theory that when a customer decides to purchase some products then they would most likely buy another lot of items. The market basket analysis evaluates and analysis the actions of the customers and links them to the different products that are bought by the end users.
• The theory and analysis of market basket is used by the retailers and shop keepers to determine the products that the shops should keep for the customers. This procedure is adopted after studying the actions of the customers in buying the products and after making an analysis of what the customers like to buy together with other products. The retailers also use the method of "differential analysis' of the market basket analysis to determine and make comparisons of the buying actions of the end users in other stores.

To know more about market basket analysis

How will market basket analysis improve customer satisfaction?

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