RFM Analysis Considers How Recently (R) a Customer Ordered, How

question 24

True/False

RFM analysis considers how recently (R) a customer ordered, how frequently (F) they ordered, and how much margin (M) the company made on the orders.

Understand the concept of consideration as an essential element of contract formation and enforcement.

Differentiate between valid and invalid consideration in contract law.

Recognize the legal exceptions that permit enforcement of promises even in the absence of consideration.

Understand the legal concept of promissory estoppel and its application.

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Definitions:

Personality

A person's unique patterns of thought, feeling, and behavior that characterize their individuality and influence their interactions with the environment and other people.

Characteristic Profile

A summary or description that outlines the distinguishing traits, qualities, or attributes of an individual or entity.

Individual Unique

Pertains to the distinct characteristics or qualities that differentiate one person from another.

Agreeableness

A personality trait in psychology that describes an individual's tendency to be kind, cooperative, and sympathetic towards others.