A Study on Customer Segmentation using Recency Frequency and Monetary Analysis on Jivanjor Adhesive Product at Banglore

Dr. BC Lakshmanna; K. Vijaya Simha

Title:
A Study on Customer Segmentation using Recency Frequency and Monetary Analysis on Jivanjor Adhesive Product at Banglore

Authors:
K. Vijaya Simha | Dr. BC Lakshmanna

Cite This Article :

K. Vijaya Simha | Dr. BC Lakshmanna "A Study on Customer Segmentation using Recency Frequency and Monetary Analysis on Jivanjor Adhesive Product at Banglore" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6, October 2022, pp.601-609, URL: https://www.ijtsrd.com/papers/ijtsrd51925.pdf

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Abstract :
Recency, frequency, monetary (RFM) analysis is a technique used to segment the customers based on their recency frequency and monetary values with the help of historical data. by adopting recency frequency and monetary analysis can segment the customers and used to find the customers who are loyal customers who are valuable customers how many customers we lost and which customers are at risk and mainly helps to maintain relationship with customers. this model provides an effective analysis for decision makers in order to target their customers and develop appropriate marketing strategies according to the previous behaviours. A STUDY ON CUSTOMER SEGMENTATION USING RECENCY, FREQUENCY, MONETARY ANALYSIS ON JIVANJOR ADHESIVE BRAND AT BANGLORE was done at jivanjor adhesive product based on historical customer transactions analysis is done based on RFM model which configures the segmentation according to the business changes and clustering the customers using k means algorithm named the clusters based on the RFM values with those clusters the company is able to know the types of customers and helps to take decisions about customers and helps for campaigning and increasing of revenue.

Keywords :
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Publication Details:

Unique Identification Number : IJTSRD51925

Published In : Volume-6 | Issue-6, October 2022

Page Number(s) : 601-609

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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