Market basket analysis in marketing research

Abstract

Market basket analysis is, to put it simply, analysis of the content of customer?s trolley. Market Basket Analysis is based on recognition of rules that customers apply while filling their trolleys, their habits, proper use of services and on research in what products are purchased together or in a defined order. Identification of the aforementioned rules may have a great influence on increasing customer?s value. Basket analysis may be applied for planning promotional campaigns, verifying their effectiveness, effective offering additional services and optimising service packages, tariffs and fees (e.g. banks, insurance companies, telephone operators); accurate recommendation on what other products to buy (e.g. online shops), increasing sales (e.g. supermarkets, special offers) and preventing companies providing services from losing their customers.