Most direct marketers apply the RFM formula to select customers. Explain this formula and how it is used to select customers
What will be an ideal response?
Most direct marketers apply the RFM (recency, frequency, monetary amount) formula to select customers according to how much time has passed since their last purchase, how many times they have purchased, and how much they have spent since becoming a customer. Suppose a company is offering leather jackets. It might make this offer to the most attractive customers, those who made their last purchase between 30 and 60 days ago, who make three to six purchases a year, and who have spent at least $100 since becoming customers. Points are established for varying RFM levels; the more points, the more attractive the customer.
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Discuss the advantages of systematic sampling
What will be an ideal response?
Operating income is:
a. net sales less cost of goods sold. b. earnings before interest and tax. c. earnings before tax and nonrecurring items. d. gross profit less operating expenses. e. net income plus interest.
By law, arbitrators may not award punitive damages; they must only calculate compensatory damages in disputes they resolve
a. True b. False Indicate whether the statement is true or false
What type of integrity constraint does not allow someone to create an order for a nonexistent customer?
A. Relational integrity constraint. B. Business-critical integrity constraint. C. Information-critical integrity constraint. D. None of the above.