A good way to isolate a firm's best customers from a marketing database is with ____ analysis.

Question

Quizplus · Accepted Answer

RFM analysis is a technique used to analyze and rank customers based on three factors: recency, frequency, and monetary value. By analyzing these factors, businesses can identify their best customers and tailor their marketing strategies accordingly. Cost per inquiry and cost per order are metrics used to measure the cost-effectiveness of marketing campaigns, while demographic, psychographic, and behavioral analysis are used to understand customer characteristics and preferences, but they may not necessarily isolate the firm's best customers.

A Good Way to Isolate a Firm's Best Customers from a Marketing