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umka2103 [35]
3 years ago
9

Ajax Inc. is one of the customers of a well-known linen manufacturing company. Ajax has not ordered linen in some time, but when

it did order in the past it ordered frequently, and its orders were of the highest monetary value. Under the given circumstances, Ajax is most likely to have an RFM score of ________.
Business
1 answer:
Aleksandr-060686 [28]3 years ago
8 0

Answer:

511

Explanation:

RFM analysis - recency, frequency, monetary

RFM analysis is used to analyze and rank customers according to their purchassing patterns.

RFM (recency, frequency, monetary) analysis is a behavior based technique used to segment customers by examining their transaction history such as

  • how recently a customer has purchased (recency)
  • how often they purchase (frequency)
  • how much the customer spends (monetary)

It is based on the marketing axiom that 80% of your business comes from 20% of your customers.

RFM helps to identify customers who are more likely to respond to promotions by segmenting them into various categories

<u>Solution:</u>

Ajax Inc. is one of the customers of a well-known linen manufacturing company. Ajax has not ordered linen in some time, but when it did order in the past it ordered frequently, and its orders were of the highest monetary value. Under the given circumstances, Ajax's RFM score is most likely <u>511</u>.

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