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DEVELOPING RFM MODEL FOR CUSTOMER SEGMENTATION IN RETAIL INDUSTRY
ISSN: 0976 - 6421
Publisher: author
DEVELOPING RFM MODEL FOR CUSTOMER SEGMENTATION IN RETAIL INDUSTRY
Indexed in
Business and Management
ARTICLE-FACTOR
1.3
Article Basics Score: 2
Article Transparency Score: 3
Article Operation Score: 2
Article Articles Score: 3
Article Accessibility Score: 2
SUBMIT PAPER ASK QUESTION
International Category Code (ICC):
ICC-0502
Publisher: International Journal Of Marketing And Human Resource Mana..
International Journal Address (IAA):
IAA.ZONE/097637946421
eISSN
:
0976 - 6421
VALID
ISSN Validator
Abstract
Many of the research tools used by sophisticated consumer marketing companies for new product development fall into the broad category referred to as "market segmentation." Recently some of these segmentation techniques have come under considerable fire. In this article we will design a mathematical model for the segmentation of retail customers. In this paper, we have segmented them based on recency, frequency and monetary (RFM) measures. Data required applying this method gathered from al the Retail Stores of Odisha which is established newly.
