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Market basket analytics can be used to identify relationships between items that are commonly purchased together. This information can be used by businesses to improve their operations and drive sales. By understanding these relationships, businesses can make more informed decisions that can help to improve their performance and drive customer satisfaction.Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to advertise the prodcut, is affected by the environment.
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Customer churn in the industry refers to the loss of customers who choose to switch to a different provider for their financial services. This can be a major concern for businesses, as acquiring new customers is typically more expensive than retaining existing ones. By analyzing customer churn data, businesses in the industry can identify the reasons for customer loss and implement strategies to prevent it. This can include offering better services, improving the customer experience, and addressing any pain points or dissatisfaction that may be driving customers away.