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RFM is a method used for analyzing customer value and segmenting customers which is commonly used in database marketing and direct marketing. It has received particular attention in the retail and professional services industries. [1] RFM stands for the three dimensions: Recency – How recently did the customer purchase?
Online Retail Dataset Online transactions for a UK online retailer. Details of each transaction given. 541,909 Text Classification, clustering 2015 [450] D. Chen Freebase Simple Topic Dump Freebase is an online effort to structure all human knowledge. Topics from Freebase have been extracted. large Text Classification, clustering 2011 [451 ...
Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing , site selection , and customer relationship management .
Claritas PRIZM Premier is a set of geo-demographic segments for the United States, developed by Claritas Inc., which was owned under The Nielsen Company umbrella from 2009 to 2016.
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [2] The S-T-P framework implements market segmentation in three steps: Segmenting means identifying and classifying consumers into categories called ...
Technographic segmentation was developed to measure and categorize consumers based on their ownership, use patterns, and attitudes toward information, communication and entertainment technologies. The concept and technique was first introduced in 1985 by Dr. Edward Forrest [1] in a study of VCR users.
A number of scholars have argued for an expanded marketing, mix with the inclusion of two new Ps, namely, Personnel and Presentation since these contribute to the customer's unique retail experience and are the principal basis for retail differentiation. Yet other scholars argue that the Retail Format (i.e. retail formula) should be included. [1]