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http://dx.doi.org/10.7465/jkdi.2012.23.3.515

A study on the segmentation of real estate customer using RFMP  

Cho, Kwang-Hyun (Department of Early Childhood Education, Changwon National University)
Park, Hee-Chang (Department of Statistics, Changwon National University)
Publication Information
Journal of the Korean Data and Information Science Society / v.23, no.3, 2012 , pp. 515-523 More about this Journal
Abstract
Most companies make efforts to maximize their profitability by improving loyalty to existing customers through customer relationship management (CRM). According to the Wikipedia, CRM is a widely implemented strategy for managing a company's interactions with customers, clients and sales prospects. And RFM is a method used for analyzing customer behavior and defining market segments. It is commonly used in database marketing and direct marketing and has received particular attention in retail. In general, one considers recency, frequency, and monetary for customer segmentation in RFM method. In this paper, we apply RFMP method added to the purchase period of advertising items in the traditional RFM model for real estate customer segmentation. We will be able to establish the differentiated marketing strategy by RFMP method.
Keywords
Customer relationship management; customer segmentation; real estate; RFM; RFMP;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
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