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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Customer Segmentation using RFM through Bizzconnecr |
| Authors Name: | Khushnuma Shaikh , Naziya Inamdar , Pranjal Ambulkar , Ankita Umale , Monica Charate |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_193248
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| Published Paper Id: | IJNRD2304686 |
| Published In: | Volume 8 Issue 4, April-2023 |
| DOI: | |
| Abstract: | Abstract - Customer segmentation through RFM analysis is a powerful tool that businesses use to understand their customers and tailor their marketing strategies accordingly. The RFM model involves analyzing a customer's recency, frequency, and monetary value to identify valuable customers and develop effective marketing strategies. This method is an important indicator of customer behavior because it affects lifetime value and engagement. RFM analysis focuses on a customer's recent buying behavior and involves analyzing their purchasing history to determine their likelihood of making future purchases. By categorizing customers based on their behavior and preferences, businesses can create more targeted marketing campaigns and improve customer retention. This approach can help companies stay ahead of the competition and build long-lasting relationships with their customers.A literature review can also provide valuable insights into customer behavior and help businesses refine their RFM analysis. Direct marketing, customer value, and customer relationship management are all key components of this approach.By understanding their customers' needs and preferences, businesses can tailor their marketing efforts to maximize the value of each customer relationship. Together, customer segmentation and RFM analysis make the businesses perform better in every situation. |
| Keywords: | Customer segmentation, RFM model, Clustering, K-means clustering, Small Business |
| Cite Article: | "Customer Segmentation using RFM through Bizzconnecr", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 4, page no.g616-g630, April-2023, Available :http://www.ijnrd.org/papers/IJNRD2304686.pdf |
| Downloads: | 000118755 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2304686 Registration ID: 193248 Published In: Volume 8 Issue 4, April-2023 DOI (Digital Object Identifier): Page No: g616-g630 Country: Mumbai, Maharashtra, India Research Area: Engineering Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2304686 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2304686 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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