Most Direct Marketers Apply the RFM Formula to Select Customers

question 19

Essay

Most direct marketers apply the RFM formula to select customers. Explain this formula and how it is used to select customers.

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Definitions:

Solicited Proposal

A solicited proposal is a request for proposals submitted in response to an organization's call for proposals, indicating a need for services or products.

Request for Proposal

A document issued by an organization to solicit proposals from suppliers and contractors.

Wellness Program

An initiative designed by organizations to promote healthy lifestyles among their employees, often including activities or resources related to health and fitness.

Employee Absenteeism

The frequent absence of an employee from work, which may affect productivity and operations.