A Local Hair Salon Is Analyzing Its Customer Data to Determine

question 139

Multiple Choice

A local hair salon is analyzing its customer data to determine the last time each customer visited the salon, if he or she purchased a hair care product, and how much money the customer spends on the salon's services and products. In essence, it is trying to determine its customers' profit potential so it can target them for marketing efforts. What data analysis tool is the salon using?

• A)recency-frequency-monetary analysis
• B)profit modeling
• C)lifetime value analysis
• D)customer segmentation analysis
• E)demographic value analysis

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Definitions:

Trust

The belief that another will act as they are expected to act.

Relationships

Connections or interactions between individuals or entities, characterized by mutual interest, involvement, or dependence.

Plan

A method of achieving an end.

Accomplishing

The act of achieving or completing a task or goal successfully, often through effort and skill.