Smart Store Base Grocery: Facilitating Future Forecasting Profit

Smart Store Base Grocery: Facilitating Future Forecasting Profit

Amit Roy (NOVA University of Lisbon, Portugal & Instituto Universitário de Lisboa (ISCTE-IUL), Portugal)
DOI: 10.4018/978-1-7998-2874-7.ch016

Abstract

Marketing Intelligence is a new topic in marketing with scarce work published. Physical store base grocery is not transmitted digitally. In terms of reason the profit is lower in Portugal or other countries where the app is not available. Therefore, grocery store owners are less engaged with customers. Store owners are losing business interest and, finally, many stores have shut down. The information can emerge from several bases to analyze different kinds of e-commerce roles to show how e-commerce brings more profit and how physical store base grocery transmits digitally to engage customers and increase profit. The chapter uses different types of tools for effective decision making. Software marketing makes vital tactical decisions to exploit profits and success of the business. As a result, the chapter offers a digital model of smart store base Grocery app to engage customers and store owners in one platform for service of excellence, as well as facilitating future forecasting profit.
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Introduction

Information Technology (IT) is the positive connection between IT itself capability and business performance measured by profit and cost. IT plays an important role in different sector. Connection between IT capability, Marketing Intelligence and e-commerce increase business performance and facilities more profit (Chae, Koh, & Park, 2018). Electronic innovativeness progressively reflects information as a significant resource. The challenge contains via entirely the combination methods of information, data or application systems to build a marketing intelligence platform (Dragomir & Surugiu, 2015). The significance of marketing intelligence in any organization is acceptable because is unbearable to develop a good plan without collection and appropriately examining the info from the market info and the marketing knowledge detained by the association about users, market rivalry, suppliers, delivery channels, usually around the atmosphere in which it functions, can be simply handled by means of those technologies precise to the computerized schemes which assist the marketing decision faster (Dragomir & Surugiu, 2015). Marketing intelligence is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace (Ladipo, Awoniyi, & Arebi, 2017). Marketing intelligence will attain high marketing productivity and profitability. therefore, the proposed research has used technological model to get good decision. good decision assists to increase high number of productivity and profitability (Dragomir & Surugiu, 2015). Marketing intelligence focuses on the implementation of information such clients, market, competitors and contribute marketing decision maker to improve marketing activities. The rise of computer technology and the online world have affected smaller store because they do not use technology, specially store base grocery sector. Store base grocery has not totally focused because they are of small business. Grocery store has no relation with technology. Therefore, many grocery stores have shut down, consumer interaction is not satisfied, less consumer engagement and less profit. Smart store base grocery app can help to increase physical grocery store selling performance to bring good revenue. The distended climax on sustainability and typical of living choices will also seriously influence to any business which influence store grocery as well. Smart store base grocery app mainly delivers grocery service to encounter clients need that essential all intelligence competences (Wangsankaew, Prathanporn, & Raksong, 2018). Smart store base grocery app mainly defines in Portugal in order to forecast more profit using technology. Moreover, store base grocery business is a type of business that rely marketing information. In this case Marketing Intelligence added with E-commerce has a deep relationship with marketing and inter-related each other to demand high number of profits. As a result, the key research question is how smart store base grocery apps has an engaged with store owner and customer to forecast on marketing profitability, especially in Portugal.

Key Terms in this Chapter

Artificial Intelligence: Machines that exhibit aspects of human intelligence.

Estimated Forecasting Profit: A projection of how much money you will bring in by selling products or services and how much profit you will make from these sales.

Marketing Intelligence: The process of gathering, analyzing and disseminating data relating to customers, products and services, experiences and business, for instance, competitor intelligence, product intelligence and market understanding.

Customer Engagement: A communication connections and interaction between customer and the firm, which may enhance cognitively and emotionally such interaction.

Machine Learning: An application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience without being explicitly programmed.

Artificial Empathy: A model-based approach to infer a consumer’s internal states (cognitive, affective, physical) based on the information he or she emits (audio, video, or other formats) as well as to infer a consumer’s reaction given a particular set of stimuli.

E-Commerce: Refers to the buying and selling of experiences using the internet, and the transfer of money and data to execute these transactions.

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