Market Analysis : Market Basket Analysis

The story of Market Basket became a fascinating case study for researchers studying organizational leadership as well as for members of the business world. Aside from being modeled after a symbolic-interpretive perspective, this case caused sensation as it proved that employees, customers, and even stakeholders do have the power to, not only halt operations, of an organization, but also were able to cripple a 4 billion dollar company. The once mom-and pop- store throughout the years grew to become a 4 billion-dollar company led by two cousins Arthur T. Demoulas and Arthur S. Demoulas. After, Arthur T. Demoulas, was ousted by the company by his own cousin, Arthur S. Demoulas, employees & customers took matters into their own hands and banded

Businesses give an analysis of the profit and sales also other business data to find a trend of popular sales and what is making the most money for the company. An example is if an item is usually sold out in days and making lots of profit and if an item is barely sales businesses would buy more of the popular product and less of the unwanted product.

It helps clarify relationsips between variables that cannot be examined by other methods and allows prediction

In 1975, Hi-Value Supermarkets became a division of Hall Consolidated, a privately owned wholesale and retail food distributor. In 2002, Hi-Value had sales of $192.2 million, which was the smallest out of the three supermarket chains owned by Hall Consolidated. Although Hi-Value is considered small against industry standards, they were the number one or two ranked supermarket chain in each of its trade markets measured through market share. The primary problem that Hi-Value has developed is that they are the highest priced compared to the competitors within the region. The Hi-Value Supermarket Shopper Interview Results (Exhibit 7 in case) demonstrates this through the question “Liked most about other regular store,” the most popular answer across the board was “Price.” So what is Hi-Value supposed to do?

To begin with, Dell software an information technology enterprises describes Data Mining as “an analytic process designed to explore data in search of consistent patterns and/or systematic relationships between variables, and then to validate the findings by applying the

Well, suppose that what we see consumers typically buying are 4 hot dogs and 2 hamburgers – that is what is in their shopping cart…

Market Basket opened the first store in Lowell, Massachusetts in 1916, and almost one hundred years later, the family owned and operated company has expanded its chain to seventy one supermarkets across Massachusetts, New Hampshire, and Maine. By all accounts, the grocery store chain has been very successful, generating four billion dollars in revenue in 2012, and making a profit of over 200 million. (Kohn, S. 8/1/2014 Market Basket Workers are Right; Retrieved from: www.wcvb.com) However, a change in leadership has brought on a temporary demise of the company, providing evidence that a great leader is the backbone upon which an organization thrives.

2Wheels conducts exhaustive customer surveys to discover customer preferences and attitudes towards the brand. Sally uses cluster analysis to classify the data and help the company determine the trends in the information. Sally is using the technique of ________.

It has recently come to my attention that Target Co. utilizes data mining to extract a wide spectrum of information about its customers by accumulating, analyzing and storing data about customer purchases. While I understand that this practice enables Target Co. to simultaneously deliver individually targeted advertisements across its diverse customer groupings, thereby increasing the potential for sales and improving customer retention, I also understand that large amounts of data unearthed by data mining can be manipulated to uncover hidden purchasing patterns to predict and shape future purchase decisions. Therefore, although there are significant benefits to using data mining, there are also serious costs associated with data mining that

"A correlation is a statistical to determine the tendency or pattern for two (or more) variables or two sets of data to very consistently" (Creswell, (2012). any

Teams have become a very important element of businesses as it enhances a corporation’s efficiency due to their optimization of employee talents, flexibility and responsiveness to changing events. It is because of these many advantages that companies like Market Basket have team work implemented within their organization. Market Basket operates with the multiteam system, the collection of various teams in which they all have a superordinate goal . For example, all the teams at Market Basket share the higher goal of satisfying the customer’s needs . This type of teams can be seen at their headquarters, with different teams such as the marketing and the operations departments, and at their retail stores with different teams such as the bakery, deli, and grocery departments2. In addition, this also helps explain why Market Basket uses the multiteam system, as each of these teams have very distinct functions, but they all need to be coordinated for the ultimate satisfaction of the customers. However, this paper will be focused on the teams at the retail stores of Market Basket, evaluating their team composition, and environment.

In order to market the product into the market successfully, marketers need to have some marketing strategy to enter the desired market and make profit. Market segmentation is the process of dividing a market into subsets of consumers with common needs or characteristics (Schiffman et al., 2011). Understanding the market size and segmentation is valuable, but the keys to effective targeting is to know just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends ( Berry, 1999).

Data mining can aid direct marketers by providing them with useful and accurate trends about

Growth in China and other emerging markets expected increase sales by 7.8% in 2015, reaching $350 billion

The process of communicating the value of a product or service to customers, for the main purpose of selling that product or service is known as marketing. The science of choosing target markets through market segmentation and analysis, and understanding consumer behavior while providing superior customer value to the customers is termed as Marketing Management. It can be looked at as one of the most important of the organizational functions and a set of processes for creating, communicating and delivering the value to their customers or potential customers, and a customer relationship management that benefits the organization in a variety of ways.