A marketing database allows a firm to measure how much business it is actually doing with its best customers through an analysis of recency, frequency, and monetary factors.

Question

Quizplus · Accepted Answer

A marketing database helps a firm analyze customer behavior by tracking their purchase history, which includes recency (how recent was their last purchase), frequency (how often they make purchases), and monetary factors (how much they spend overall). This information helps the firm measure the success of their marketing strategies and identify opportunities for growth with their best customers.

A Marketing Database Allows a Firm to Measure How Much