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:

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a handbook used by healthcare professionals as the authoritative guide to diagnosing mental disorders.

Anti-psychotic Qualities

Characteristics of medications that are used to treat psychotic symptoms, such as hallucinations and delusions, commonly associated with schizophrenia and bipolar disorder.

Opiates

A group of drugs, derived from the opium poppy, that are used for their analgesic (pain-relieving) properties but can also lead to addiction.

NSSI

Non-Suicidal Self-Injury, the act of deliberately harming one's own body without intending to cause death.