When Companies Use CRM Software to Calculate CLV for Their

question 41

Multiple Choice

When companies use CRM software to calculate CLV for their customers,to achieve the most accuracy they are likely to:

• A)ask salespeople to call each one of their current customers to confirm the main contact info on each account
• B)double-check the figures using modeling software they write in-house
• C)segment their customers into two or three distinct groups
• D)make forecasts based on information from external databases
• E)calculate the customers' value only for the next three to five years

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Definitions:

Nominal

refers to a classification or labeling of entities where the categories do not imply a specific order or ranking.

Likert-Type Scale

A psychometric scale commonly involved in research that employs questionnaires, where respondents specify their level of agreement to statements.

Semantic Differential Scale

A scale anchored at opposite ends by opposing words such as “strong–weak” or “hot–cold.”

Freshman

A student in the first year of high school, college, or university education.