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An RFM Model Customizable to Product Catalogues and Marketing Criteria Using Fuzzy Linguistic Models: Case Study of a Retail Business

Mathematics, 2021
In the field of strategic marketing, the recency, frequency and monetary (RFM) variables model has been applied for years to determine how solid a database is in terms of spending and customer activity. Retailers almost never obtain data related to their
Ramon Alberto Carrasco, D Gavilan, Rocio Martinez   +2 more
exaly   +2 more sources

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Mining Valuable Fuzzy Patterns via the RFM Model

2022 IEEE International Conference on Data Mining Workshops (ICDMW), 2022
Guoting Chen
exaly   +2 more sources

Using improved RFM model to classify consumer in big data environment

International Journal of Embedded Systems, 2021
Guang Sun, Wangdong Jiang
exaly   +3 more sources

E-commerce Customer Segmentation Based on RFM Model

Lecture Notes in Electrical Engineering, 2022
exaly   +2 more sources

A stochastic RFM model

Journal of Interactive Marketing, 1999
Abstract A central problem in database marketing is how to choose which customers in the firm's database to target with an offer. This paper presents a simple stochastic RFM model to carry out such a task. By making a few straightforward assumptions about the customers in the database, the stochastic model provides a means of (1) ranking customers in
Richard Colombo, Weina Jiang
openaire   +1 more source

RFM approach for telecom insolvency modeling

Kybernetes, 2016
Purpose – The purpose of this paper is to present application of recency, frequency and monetary value (RFM) approach to predict customer insolvency using telecommunication data corresponding to RFM of late payments. The study tackles a serious problem that telecommunication companies often face and shows the ways to ...
openaire   +2 more sources

Segmentaion of C2C Customer Using RFM Model

2011
Customers segmentation is the key to customer relationship management, this paper analyze RFM (recency, frequency, and monetary value) paradigm with customer, and use RFM value as clustering properties by K-means. The customers can be divided into four levels includes important keep customers, important development customers, general customers ...
Jianying Xiong, Leiyue Yao
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Customer Segmentation Using Fuzzy-AHP and RFM Model

2020 8th International Conference on Reliability, Infocom Technologies and Optimization (Trends and Future Directions) (ICRITO), 2020
In today’s business environment the number of customers buying products online have increased, it is difficult for the firm to determine customer lifetime value (CLV) of every customer. In this paper, customer segmentation is used to find the customer lifetime value for a UK based registered company that sells unique gifts.
Anu Gupta Aggarwal, Sweta Yadav
openaire   +1 more source

APPLICATION OF RFM MODEL ON CUSTOMER SEGMENTATION IN DIGITAL MARKETING

Nigerian Journal of Science and Environment
Customers playa pivotal role in the success of any business. The ability to attract and retain the right clientele, who consistently engage with a company's products and services, hinges on a thorough understanding of their purchasing behavior. Successful businesses tailor their offerings to meet the unique requirements and preferences
Maureen Akazue, Kesiena Esiri, Asuai Clive   +2 more
openaire   +1 more source

Customer lifetime value determination based on RFM model

Marketing Intelligence & Planning, 2016
Purpose– One of the salient challenges in customer-oriented organizations is to recognize, segment and rank customers. Customer segmentation is usually based on customer lifetime value (CLV) measured by three purchase variables: “Recency,” “Frequency” and “Monetary.” However, due to the ambiguity of these variables, using deterministic approach is not ...
Fariba Safari, Narges Safari, Gholam Ali Montazer   +2 more
openaire   +1 more source