Customer Lifetime Value (CLV) Refers to The

question 75

Multiple Choice

Customer lifetime value (CLV) refers to the:

• A)sum total of benefits that a vendor promises a customer will receive in return for the customer's associated payment.
• B)strategy for managing a company's interactions with customers, clients, and sales prospects.
• C)total value of purchases of the customer over a lifetime of patronage.
• D)tendency of the customer to stick with the brand even when it is priced higher than an otherwise equal product.
• E)the provision of service to customers before, during, and after a purchase.

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Definitions:

Melatonin

A substance secreted by the pineal gland that controls the patterns of sleeping and waking.

Dopamine

A neurotransmitter associated with pleasure, movement, and attention in the brain.

Cortisol

Cortisol is a steroid hormone released by the adrenal glands in response to stress and has multiple functions including regulating metabolism and immune response.

Leptin

A hormone produced by adipose (fat) cells that helps to regulate energy balance by inhibiting hunger, which in turn diminishes fat storage in adipocytes.