RFM Can Be a Useful Tool to Determine Who Your

question 10

True/False

RFM can be a useful tool to determine who your best customers are and who hasn't been in to the store in a while.

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Definitions:

Marketing Channel

A marketing channel is a set of practices or activities necessary to transfer the ownership of goods from the point of production to the point of consumption, including distributors, wholesalers, and retailers.

Promotional Allowance

Financial incentives provided to retailers or wholesalers by manufacturers to stock, display, or promote specific products.

Free Goods

Products or services offered without charge to the consumer, often used as a promotional strategy to increase engagement or loyalty.

Advertising Activities

Initiatives and efforts undertaken by a company to promote its products or services to a target audience.