Which of the Following Is the First Step in the Process

question 21

Multiple Choice

Which of the following is the first step in the process of producing an RFM score?

• A)dividing the customers according to the amount spent on purchases
• B)dividing customers into multiple groups and giving each group a score
• C)sorting customer purchase records based on the purchase frequency
• D)sorting customer purchase records by the date of most recent purchase

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Definitions:

Maximise

To maximize something to its utmost potential or level.

Input

The resources such as labor, materials, and capital used in the production process to produce output.

Profit

The financial surplus remaining after all expenses have been deducted from total revenue, indicative of the financial success of a business operation.

Commodity

An essential commodity employed in business activities that is substitutable with other commodities of the identical category.