Which of the following is a factor considered when a customer is evaluated based on RFM formula?
A)the amount of time has passed since the customer's last purchase
B)the product categories purchased by the customer
C)the mode of payment used by the customer
D)the location from which the customer has bought goods
E)the type of feedback provided by the customer

Question

Quizplus · Accepted Answer

RFM formula (Recency, Frequency, Monetary) considers the recency of the customer's last purchase as one of the factors. The amount of time that has passed since the customer's last purchase is a measure of the recency factor in the RFM model.

Which of the Following Is a Factor Considered When a Customer