RFM analysis is used to analyze and rank customers according to their ________.
A) purchasing patterns
B) propensity to respond to a marketing stimulus
C) socio-economic status
D) motivation and needs

Question

Quizplus · Accepted Answer

RFM analysis is a marketing technique that stands for recency, frequency, and monetary analysis. This technique is used to analyze and rank customers based on the timing of their most recent purchase, the frequency of their purchases, and the amount of money spent in each transaction. In other words, RFM analysis is used to identify the most valuable customers and develop customized marketing strategies to retain them.

RFM Analysis Is Used to Analyze and Rank Customers According