Why does the “rfm” rubric present the three key measures (recency, frequency, and monetary value) in that order?

1 answer:

5 0

The order of the attributes in RFM conforms to the order of their importance in ranking customers. Recency is the most important factor. Recency alone won’t sort out your good customers from your new ones. You need frequency for that. Frequency measures the intensity of a customer’s relationship with your business. How much a customer spends on average or in total is the final measure of his or her monetary value.

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the recency effect occurs when a rater gives greater weight to information received first when appraising an individual's perfor

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The recency effect occurs when a rater gives greater weight to information received first when appraising an individual's performance is a true statement.

<h3>What does recency effect refer to?</h3>

The recency effect is a memory phenomena where individuals tend to accurately recall information that is most recent. It is a cognitive bias whereby the last things, concepts, or arguments are remembered more vividly than the initial ones. The recency effect, in contrast to the primacy effect, is the propensity for people to more readily recall items that are presented last in a list. This is probably because those items were the most recent and are still stored in your short-term memory in the case of the recency effect.

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1 year ago

The income statement provided is from June. Since Aafreen operates her restaurant on a calendar year, the net income represents

sweet-ann [11.9K]

The income statement is one of the most common and important financial statements. The income statement, also known as the income statement (P&L), summarizes all income and expenses over a period of time, including the cumulative impact of income, profits, expenses, and loss transactions.

S stands for Selling Expenses and includes the costs of advertising, selling, and delivering goods and services. Selling expenses include sales materials, travel expenses to customers and prospects, advertising expenses, salesperson salaries and commissions, and so on.

Operating expenses — also known as selling, general, and administrative (SG&A) expenses — are the costs of running a business. These include rent and utilities, marketing costs, computer equipment, and employee benefits.

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