1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Cerrena [4.2K]
3 years ago
15

What is the term that defines how recently a customer purchased items?

Business
1 answer:
KatRina [158]3 years ago
6 0
The answer is recency. This part of the RFM model. It is a marketing investigation tool used to classify a firm's best customers by calculating definite factors.

The RFM model is founded on three quantitative factors which are:

Recency - How recently a customer has made an acquisition or purchase of productFrequency – How frequent or often a customer makes a purchaseMonetary Value - How much cash a customer spends on purchases

RFM analysis often sustains the marketing saying that "80% of business comes from 20% of the customers."
You might be interested in
Upon starting her new position, Brenda is given a _______ that details the tasks, duties, and responsibilities considered a part
Arada [10]

Answer:

The answer is job description (JD).

Explanation:

The job description is the summary of tasks, duties, and responsibilities for a particular position. The job description also includes the requirements for the position holder. In some cases, it may details the reporting line, compensation and benefits regarding to the job.

3 0
3 years ago
On a shopping trip, Melanie decided to buy a light blue coat made from woven fabric. A tag on the coat stated that the price was
sergij07 [2.7K]

Answer: 5

Explanation: C

Consumer surplus is the difference between the quantity that a consumer is eager to pay for any product and the amount that he or she really ends up paying for that commodity. In this question Melanie was expecting to pay $79.95 when she saw the tag. Later she came to know that the coat was on a sale and she would have to pay 20% less. She finally paid $63.96 that is $15.99 less than the stated price $15.99. Thus, $15.99 is the consumers' surplus.

5 0
3 years ago
A(n) _____ is an agreement among two or more two companies to join forces to pursue specific opportunities without actually merg
aalyn [17]
The answer is Joint Venture. It is the agreement or the business arrangement of two or more companies that agrees to share resources for a specific purpose without loosing their identities. The companies will share expenses, looses and profit associated with the venture but their other business interest will remain separate.
8 0
3 years ago
WHAT STEP IN THE OPSEC PROCESS IS ANALYZING THREATS?
sukhopar [10]
Its the the second step, 

1. Identify critical information
2. Analyze threats
3. Analyze vulnerabilities
4. Assess risk
5. Apply OPSEC measures

7 0
2 years ago
According to an article by Sarah Witten published this May 18, 2018 on CNBC.com, birth rates in the U.S. have been falling since
Assoli18 [71]

Answer:

a) DIAPER market is witnessing a frenzy of activity by manufacturers launching brands, and petrochemical firms planning to produce superabsorbent polymers (SAPs) used in making disposable nappies.The disposable diaper market in the country is at a nascent stage, with extremely low consumption. However, the potential is huge, given the largest infant population in the world and a large, growing middle class with expanding disposable incomes. Diaper manufacturers and petrochemical companies seem to have realized the enormity of this emerging market.The Indian disposable diaper market is currently pegged at nearly Indian Rupees (Rs) 700m ($17.4m, E12.6m) and 30,000 tonnes/year, and is estimated to grow between 5-10% annually. It comprises brands like Huggies (60% market share) and Pampers (30%) from multinationals Kimberly Clark and Procter & Gamble, respectively. Domestic consumer products major Godrej's Snuggy is the third-largest brand of diapers in the Indian market, with a 10% share.

Procter & Gamble launched its $6bn (€4.4bn) diaper brand Pampers in India in December 2006. "Diapers is a focus area for the company in India and has huge potential," says Shantanu Khosla, managing director of Procter & Gamble India. The potential for Pampers is huge, as India has 45 million babies, the largest number of infants in the world, according to associate marketing director of Pampers J P Kuehlwein.

Godrej also has expansion plans. It acquired the Snuggy brand of diapers from Shogun Industries late last year. It has also recently formed a Rs200m joint venture with SCA of the UK for manufacturing and marketing of baby diapers in India, Nepal and Bhutan.

Most diaper brands continue to be imported, including Snuggy. Godrej outsources its diapers from a Chinese company and will continue to do so until volumes pick up.

Other companies are also getting into the act. India's third-largest software exporter, Wipro, is entering the diaper market, as is Malaysia's People & Gratt with its Shee Shee brand of diapers.

According to Musaib Ahmed, director of People & Gratt, his company is eyeing a 10% market share in India in its first year of operations. He says the company plans to establish a wide distribution network in the major metropolitan and second tier cities in the first year.

b) , since the increase in price does not have a large impact on quantity demanded. If an increase in price causes a decrease in total revenue, then demand can be said to be elastic, since the increase in price has a large impact on quantity demanded.On the other hand, if the price for an inelastic good is increased and the demand does not change, the total revenue increases due to the higher price and static quantity demanded. However, price increases typically do lead to a small decrease in quantity demanded.

Price inelasticity is very beneficial for businesses and is important in understanding how they should formulate their pricing strategy. Price inelasticity offers firms greater flexibility with prices as the change in demand remains essentially the same whether prices increase or decrease. If the price goes up or down, you can expect consumers’ buying habits to stay mostly unchanged.

How Price Inelasticity Affects Demand

For price inelastic goods or services, the change in the amount demanded is minimal with respect to the change in price.

This can affect demand and total revenue for a business in two ways.

Less Overall Revenue

If the price for an inelastic good is lowered, the demand for that good does not increase, resulting in less overall revenue due to the lower price and no change in demand. This would indicate that the firm should not reduce the price of its goods as there is no beneficial outcome in doing so.

More Overall Revenue

On the other hand, if the price for an inelastic good is increased and the demand does not change, the total revenue increases due to the higher price and static quantity demanded. However, price increases typically do lead to

Explanation:

8 0
2 years ago
Other questions:
  • Melinda kept a record of her spending for the week. She spent $25 to put gas in the car, bought a new shirt for a total of $22.3
    9·1 answer
  • _____________ is the new-product development phase where hope springs decides that the flavor additive has enough market interes
    10·1 answer
  • An inexperienced accountant for Marigold Corp. showed the following in the income statement: income before income taxes $432,000
    6·1 answer
  • Multiple Choice Question 143 A company shows a balance in Salaries and Wages Payable of $37900 at the end of the month. The next
    14·1 answer
  • Jawbreaker Company paid $640 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $640 and a
    15·1 answer
  • Barsuk Company began the year with stockholders' equity of $108,000. During the year, Barsuk issued stock for $147,000, recorded
    7·1 answer
  • A bond that pays interest semiannually has a coupon rate of 5.44 percent and a current yield of 4.91 percent. The par value is $
    13·1 answer
  • A person that studies how economic theories such as capitalism, socialism, and
    10·1 answer
  • A reduction in a provision for doubtful debts is recorded by
    8·1 answer
  • Primary demand is a desire for the ________ rather than for a ________; it is often the focus of marketing when there are few co
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!