Define Lifetime Value of a Customer

question 92

Essay

Define lifetime value of a customer. How has Apple, with the development of the iPod product line and iTunes software, gained a competitive advantage over competitors? Will Apple experience a higher or lower lifetime value of a customer and why?

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Definitions:

Halfway House

A facility that provides support and residence for people transitioning from prison, rehab, or similar situations into mainstream society.

Tertiary Prevention

Interventions designed to manage and reduce the impact of an already established disease by minimizing its symptoms and complications.

Addiction Facility

A healthcare institution specialized in the treatment and recovery of individuals suffering from addiction.

Mental Hospital

A healthcare facility specialized for the treatment, care, and rehabilitation of individuals with serious mental disorders and illnesses.