Market Segmentation Using Enhanced RFM (Regency, Frequency, Monetary) Model
The importance of targeted marketing strategy, a principle method for transforming retailers from being product-oriented to customer centric, has attracted interest from both industry and academia. It is well known fact that consumers differ in various ways, and have contrasting buying preferences....
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| Format: | Thesis |
| Language: | English |
| Published: |
2017
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| Online Access: | http://eprints.usm.my/45378/1/FAHED%20YOSEPH.pdf |
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| Summary: | The importance of targeted marketing strategy, a principle method for transforming retailers from being product-oriented to customer centric, has attracted interest from both industry and academia. It is well known fact that consumers differ in various ways, and have contrasting buying preferences. A widely used approach for gaining insight into the heterogeneity of customer buying behavior and profitability is market segmentation. It refers to the division of a mass market into smaller homogeneous markets based on purchase similarity and the diversity of customers. |
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