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Volume 7
Product Bundling for ‘Efficient’ Vs ‘Non-Efficient’ Customers: Market Basket Analysis Employing Genetic Algorithm
Saurabh Pradhan, Pankaj Priya , Gokulananda Patel
Achieving profit maximization by retailers is based on a comprehensive understanding of their customers’ brand preferences as well as their purchasing patterns. Segmentation of customers merely leads to grouping the customers into segmented cluster according to their buying behaviour and demographics. However, an in-depth knowledge of purchase pattern over a period of time is necessary to tailor customers’ needs according to their worth to the retailers. It would be more beneficial for the retailers ...
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