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

Date

2017-01-01

Author

Peker, Serhat
Koçyiğit, Altan
Eren, Pekin Erhan

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

358
views

0
downloads

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.

Subject Keywords

CRM, Marketing strategy, Customer relations, Customer segmentation, Grocery retail industry, RFM model

URI

https://hdl.handle.net/11511/31802

Journal

MARKETING INTELLIGENCE & PLANNING

DOI

https://doi.org/10.1108/mip-11-2016-0210

Collections

Graduate School of Informatics, Article

Suggestions

OpenMETU
Core

Application of poor quality indicator model in an emergent software organization Demirörs, Onur; Guceglioglu, AS (2001-09-06) In this paper we describe a model called poor quality indicator model that is intended to be used to support traditional software process improvement initiation approaches. We also summarize the results of a case study tie performed in an emergent organization to demonstrate the applicability of this model.
Optimal pricing and ordering policy for non-instantaneous deteriorating items under inflation and customer returns Ghoreishi, M.; Mirzazadeh, A.; Weber, Gerhard Wilhelm (Informa UK Limited, 2014-01-01) This paper deals with an economic production quantity inventory model for non-instantaneous deteriorating items under inflationary conditions considering customer returns. We adopt a price-and time-dependent demand function. Also, the customer returns are considered as a function of both price and demand. The effects of time value of money are studied using the Discounted Cash Flow approach. The main objective is to determine the optimal selling price, the optimal replenishment cycles, and the optimal produ...
Polynomial Multiplication over Binary Fields Using Charlier Polynomial Representation with Low Space Complexity AKLEYLEK, SEDAT; Cenk, Murat; Özbudak, Ferruh (2010-12-15) In this paper, we give a new way to represent certain finite fields GF(2(n)). This representation is based on Charlier polynomials. We show that multiplication in Charlier polynomial representation can be performed with subquadratic space complexity. One can obtain binomial or trinomial irreducible polynomials in Charlier polynomial representation which allows us faster modular reduction over binary fields when there is no desirable such low weight irreducible polynomial in other representations. This repre...
Analysis of an inventory system under supply uncertainty Gullu, R; Onol, E; Erkip, N (Elsevier BV, 1999-03-20) In this paper, we analyze a periodic review, single-item inventory model under supply uncertainty. The objective is to minimize expected holding and backorder costs over a finite planning horizon under the supply constraints. The uncertainty in supply is modeled using a three-point probability mass function. The supply is either completely available, partially available, or the supply is unavailable. Machine breakdowns, shortages in the capacity of the supplier, strikes, etc., are possible causes of uncerta...
JOINT PRICING AND REPLENISHMENT DECISIONS FOR NON-INSTANTANEOUS DETERIORATING ITEMS WITH PARTIAL BACKLOGGING, INFLATION- AND SELLING PRICE-DEPENDENT DEMAND AND CUSTOMER RETURNS Ghoreishi, Maryam; Mirzazadeh, Abolfazl; Weber, Gerhard Wilhelm; Nakhai-Kamalabadi, Isa (American Institute of Mathematical Sciences (AIMS), 2015-07-01) This paper develops an Economic Order Quantity (EOQ) model for non-instantaneous deteriorating items with selling price- and inflation-induced demand under the effect of inflation and customer returns. The customer returns are assumed as a function of demand and price. Shortages are allowed and partially backlogged. The effects of time value of money are studied using the Discounted Cash Flow approach. The main objective is to determine the optimal selling price, the optimal length of time in which there is...

Citation Formats

S. Peker, A. Koçyiğit, and P. E. Eren, “LRFMP model for customer segmentation in the grocery retail industry: a case study,” MARKETING INTELLIGENCE & PLANNING, pp. 544–559, 2017, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/31802.