Title: A developing model for clustering and ranking bank customers

Authors: Khalil Sajjadi; Mohammad Ali Khatami-Firuzabadi; Maghsud Amiri; Jamshid Salehi Sadaghiani

Addresses: Department of Accounting and Management, Allameh Tabataba'i University, Tehran, Iran ' Department of Accounting and Management, Allameh Tabataba'i University, Tehran, Iran ' Department of Accounting and Management, Allameh Tabataba'i University, Tehran, Iran ' Department of Accounting and Management, Allameh Tabataba'i University, Tehran, Iran

Abstract: Nowadays, there are a lot of customer-based companies and organisations, including banks, that are serving to present services and products to customers with different levels. Creating difference for various clusters of customers with ranking approach is done for obtaining different objectives. This paper has tried to cluster and rank the bank customers with developing RFM model from the perspective of facilities and deferred and making RFMLD model. Finally, by doing clustering process, it has put a vast domain of customers with an extensive spectrum into similar groups and has started ranking each cluster through simple weighted way. Explicating marketing policies peculiar to each cluster and determining target customers in private banking, company-based banking, customers club, campaign etc., through loyalty creation and preservation in them is one of this paper's applications.

Keywords: customer clustering; RFMLD model; SAW ranking; modelling; customer ranking; bank customers; banking industry; marketing policies; loyalty creation; customer loyalty; customer retention.

DOI: 10.1504/IJECRM.2015.070701

International Journal of Electronic Customer Relationship Management, 2015 Vol.9 No.1, pp.73 - 86

Received: 29 Nov 2014
Accepted: 23 Apr 2015
Published online: 20 Jul 2015 *

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