Customer Contact Personnel with a Company Should Not Use RFM

question 31

True/False

Customer contact personnel with a company should not use RFM codes or lifetime values of individual customers to affect the way they deal with a customer since every customer should be treated equally.

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Definitions:

Correlation Coefficient

A numerical measure that indicates the extent to which two variables fluctuate together, showing the strength and direction of a relationship.

Scatter Plot

A type of graphical representation displaying values for typically two variables for a set of data, showing the relationship between them.

Operational Definition

A clear, concise detailed definition of a measure or variable within a study, used to ensure consistency and replicability in research.

Procedures

A series of actions conducted in a certain order or manner to achieve a result or carry out a task.