LRFMP model for customer segmentation in the grocery retail industry: a case study


Peker S., KOÇYİĞİT A., EREN P. E.

MARKETING INTELLIGENCE & PLANNING, vol.35, no.4, pp.544-559, 2017 (Peer-Reviewed Journal) identifier identifier

  • Publication Type: Article / Article
  • Volume: 35 Issue: 4
  • Publication Date: 2017
  • Doi Number: 10.1108/mip-11-2016-0210
  • Journal Name: MARKETING INTELLIGENCE & PLANNING
  • Journal Indexes: Social Sciences Citation Index, Scopus
  • Page Numbers: pp.544-559
  • Keywords: CRM, Marketing strategy, Customer relations, Customer segmentation, Grocery retail industry, RFM model, DATA MINING TECHNIQUES, MARKET-SEGMENTATION, CLUSTER-ANALYSIS, RFM ANALYSIS, MANAGEMENT

Abstract

Purpose - The purpose of this paper is to propose a new RFM model called length, recency, frequency, monetary and periodicity (LRFMP) for classifying customers in the grocery retail industry; and to identify different customer segments in this industry based on the proposed model.