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Database marketing tools for SMEs: The case of RFM model

Abstract:

Small and medium-sized enterprises (SMEs) are the engines of global economic growth. In the today competitive environment consumers demand a more personalized treatment and products and\or services that better meet their needs. SMEs can successfully remain in the global market if they can respond to the customer needs. Notwithstanding Database marketing is a crescent usefulness tool, which SMEs would benefit from marketing campaigns to enhance market visibility, global positioning, and strategic advantage in the new economy, many SMEs don't have tools for the extraction of knowledge from their databases. This paper presents an inexpensive alternative for SMEs, to knowledge extraction from marketing databases, using RFM model, to guide the development of marketing activities.