Why Is It Important to Consider the Purpose of the Group

question 27

Essay

Why is it important to consider the purpose of the group before deepening the focus of the session?​

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Definitions:

Recency-Frequency-Monetary Analysis

A marketing analysis tool that categorizes customers based on their recent purchases, how often they purchase, and how much they spend.

Costs Of Doing Business

The expenses involved in the day-to-day operations of a company, including rent, utilities, payroll, and materials.

Profitable Customers

Customers who generate a net profit for a company over time, through their purchases and engagement with the business.

Customer Relationship Management

A strategy for managing a company's interactions with current and potential customers, using data analysis about customers' history with the company to improve business relationships, particularly focusing on customer retention and ultimately driving sales growth.