In Coding Data Using RFM Analysis,a Value of "1" for the "F

question 77

Multiple Choice

In coding data using RFM analysis,a value of "1" for the "F" would indicate:

• A) the group of customers who have made the lowest number of purchases within the a specific time period
• B) the group of customers who have made the highest number of purchases within the a specific time period
• C) the group of customers with the longest amount of elapsed time since the last purchase
• D) the group of customers who made the most recent purchases

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Definitions:

Average Cost Price

The cost per unit of product or service, calculated by dividing the total cost of production by the number of units produced.

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed, extracting all consumer surplus.

Type Of Monopoly

Refers to various forms of monopolies such as natural monopoly, geographic monopoly, and government monopoly, each distinguished by their exclusive control over a market or product.

Profit-maximizes

A strategy or approach by businesses aimed at achieving the highest possible profit.