Describe the Use of the RFM Formula in Selecting Customers

question 35

Essay

Describe the use of the RFM formula in selecting customers for direct marketing.

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Definitions:

Fee Simple

A legal term referring to the most complete ownership of land or property by an individual, which includes the rights to use, sell, or inherit the property.

Mineral Rights

The ownership rights to underground resources such as oil, gas, and minerals.

Surface

Surface generally refers to the exterior or outermost boundary of an object or the top layer of something.

Rights to the Sky

Legal rights related to the use and control of the airspace above a piece of land, often impacting construction and property law.