Retail Coupon Game
You are the manager of a grocery store Whole Mart. To attract more sales, your management has decided to give your loyal customers (i.e., with reward card) one of the three coupons - 30% off on a single item (i.e., coupon A), 10% off on the entire purchase (i.e., coupon B) or $10 voucher for the next visit (i.e., coupon C).
When a loyal customer arrives at the store, you can access the information about their age (in years), gender (i.e., male or female), marital status (i.e., married, not married or unknown), income group (i.e., high, medium or low), and the number of children (i.e, none, one or two+) from your system.
Although you have been instructed by your supervisor to select a coupon randomly (among the three) for a customer, you see an opportunity to maximize revenue by strategizing the distribution process of the coupons. The objective of the game is to find the best coupon distribution strategy that maximizes your average revenue per customer.
The customers arrive at the store in a random order. When a customer arrives, choose a coupon and click the 'Issue' button. The next customer arrives immediately. Stop after the first 50 customers. Note the average revenue per customer.
Now try a different strategy of assigning coupons to the next 50 customers and check if your average revenue per customer has improved. Keep trying a new strategy for a set of 50 customers each time and compare the result with your previous strategies until you find the best strategy.
P.S. You will be surprised to see that I am always the first customer of Whole Mart, even if it is not Black Friday!
When a loyal customer arrives at the store, you can access the information about their age (in years), gender (i.e., male or female), marital status (i.e., married, not married or unknown), income group (i.e., high, medium or low), and the number of children (i.e, none, one or two+) from your system.
Although you have been instructed by your supervisor to select a coupon randomly (among the three) for a customer, you see an opportunity to maximize revenue by strategizing the distribution process of the coupons. The objective of the game is to find the best coupon distribution strategy that maximizes your average revenue per customer.
The customers arrive at the store in a random order. When a customer arrives, choose a coupon and click the 'Issue' button. The next customer arrives immediately. Stop after the first 50 customers. Note the average revenue per customer.
Now try a different strategy of assigning coupons to the next 50 customers and check if your average revenue per customer has improved. Keep trying a new strategy for a set of 50 customers each time and compare the result with your previous strategies until you find the best strategy.
P.S. You will be surprised to see that I am always the first customer of Whole Mart, even if it is not Black Friday!
Retail Coupon Game
Customer#:of 30
Age:
years
Gender:
Married?
Income Group:
Children:
Select Coupon: <== Step 1: Select a coupon for the above customer.
<== Step 2: Click the button to issue the coupon to the customer.
Revenue from Current Customer:
$
Total Customers:
Cumulative Revenue:
$
Average Revenue per Customer: <== Step 3: Note your overall score and go back to Step 1 for the next customer.
$
Data:
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