Ask Question
BusinessBusiness
23 November, 10:41

Why does the "rfm" rubric present the three key measures (recency, frequency, and monetary value) in that order?

+2
Answers (1)
  1. 23 November, 13:12
    0
    The order of the attributes in RFM conforms to the order of their importance in ranking customers. Recency is the most important factor. Recency alone won't sort out your good customers from your new ones. You need frequency for that. Frequency measures the intensity of a customer's relationship with your business. How much a customer spends on average or in total is the final measure of his or her monetary value.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Why does the "rfm" rubric present the three key measures (recency, frequency, and monetary value) in that order? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
When workers intentionally reduce their productivity, it is called a (n) ?
Answers (1)
Inventories are defined by IFRS as held-for-sale a. in the ordinary course of business. b. in the process of production for sale in the ordinary course of business. c.
Answers (1)
Some advantages of the sole proprietorship also apply to the small business
Answers (1)
You buy a UST with a remaining maturity of 10 years at 99, The coupon rate is 6%. You project that 1 year from today, the 9-year UST yield will be 5%. And you project that 2 years from today the 8-year UST yield will be 7% a.
Answers (1)
In 1998, Parker Corporation purchased land for $130,000. In 2010, Parker Company had the land appraised, and its value was estimated to be $190,000. Also during 2010, another company offered Parker $145,000 for the parcel of land.
Answers (1)
New Questions in Business
With regard to bid pricing, a marketing manager should be aware that:A. the same overhead charges and profit rates usually apply to all bids. B. bids are usually based on inspection. C.
Answers (1)
Ms. Child is considering the purchase of a new food packaging system. The system costs $105265. Ms.
Answers (1)
According to the four-frame model, without the capacity to use multiple frames, managers may become locked into their one favored way of seeing the world. a. True b. False
Answers (1)
Q 13-1 what are the essential characteristics of liabilities for the purposes of financial reporting?
Answers (1)
The analysis of the behavior of individual decision-making units is the definition of A) microeconomics. B) positive economics. C) macroeconomics. D) normative economics.
Answers (2)
Home » Business » Why does the "rfm" rubric present the three key measures (recency, frequency, and monetary value) in that order?
Sign Up Forgot Password?