Adding the "P" (Product Category) to RFM (1,079 words)
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There are few catalogers who don't know what RFM stands for. It is the technique of capturing customer purchase history by the three most important variables:
R = Recency -- date of customer's last purchase; F = Frequency of purchase -- number of times a customer bought; M = Monetary -- lifetime dollars spent on a catalog by a customer.
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- Companies:
- J. Schmid & Assoc.
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