Businesses Can Find Their Most Valuable Customers by Using the RFM

question 71

Multiple Choice

Businesses can find their most valuable customers by using the RFM formula.Which of the following make up RFM?

• A)How recently a customer purchased items
• B)How frequently a customer purchases items
• C)The monetary value of each customer purchase
• D)All of the answers make up RFM
• Businesses can find their most valuable customers by using the RFM formula-recency, frequency and monetary value. In other words, an organisation must track:
• - how recently a customer purchased items
• -how frequently a customer purchases items

Understand the importance and definitions of key professional behaviors and attitudes in a healthcare setting.

Recognize the impact of cultural diversity on healthcare practices and patient interactions.

Define and emphasize the role of critical thinking in professional settings.

Identify ethical principles and their applications in healthcare.

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Definitions:

Mere Exposure Effect

The phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Bystander Effect

A phenomenon in social psychology where people are less inclined to assist someone in need when there are others around.

Stereotyping

The act of applying generalized beliefs or attributes to individuals based on their membership in a particular group, often leading to oversimplified and inaccurate judgments.

Violent Pornographic Movies

Films containing explicit sexual content that also incorporate elements of violence, potentially influencing viewers' attitudes and behaviors.