Which Is the First Step in Customer Lifetime Value CLV)

question 5

Multiple Choice

Which is the first step in customer lifetime value CLV) maximization cycle?

• A)Pitching the Right Product to the Right Customer at the Right Time
• B)Managing Loyalty and Profitability Simultaneously
• C)Customer Selection
• D)Optimal Allocation of Resources
• E)Preventing Customer Attrition

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Definitions:

Id

In Freudian theory, the mental structure present at birth that is the main source of psychological energy. It is unconscious and pleasure-seeking and demands that bodily drives be satisfied.

Internalized

Refers to the process by which individuals adopt the values, attitudes, or norms of a group or society, making them part of their personal value system.

Adult Standards

Adult standards refer to societal norms and expectations that are typically applied to the behavior, responsibility, and roles of adults, differing from those applied to children or adolescents.

Ego

A part of the psyche that mediates between the conscious, the unconscious, and the reality, often related to self-esteem and identity.