Business Administration, Management, and Operations Commons^™

A Customer Segmentation Model Proposal For Retailers: Rfm-V, Pinar Ozkan, Ipek Deveci Kocakoc

University of South Florida (USF) M3 Publishing

Today's businesses have large quantity of demographic, economic and behavioral data on their customers with the rapid development of computer and internet technologies. Customer segmentation analyzes are carried out on the basis of various parameters in order to identify and group consumers with different needs and wishes and to develop marketing applications and solutions specific to each group. RFM analysis is a commonly used and well-known customer value evaluation tool for analyzing and classifying vast volumes of customer data quickly and effectively. It is used to numerically identify the correct customers by examining how recently, how often and to which …