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

---

Definitions:

Consideration

Something of value exchanged between parties in a contract, making the agreement legal and binding.

Bargained-For Exchange

An element of contracts where both parties agree to provide something of value to the other.

Negotiation of Contracts

The process of discussing terms and details between parties in order to reach a mutual agreement before finalizing a contract.

Uniform Commercial Code

An extensive collection of regulations that oversee every commercial activity in the United States, designed to synchronize the legislation of sales and various commercial dealings throughout the states.