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The Text States, "Viewing Customers with a Lifetime Value Perspective

question 81

Essay

The text states, "Viewing customers with a lifetime value perspective rather than on a transaction-by-transaction basis is key to modern customer retention programs." Create an example demonstrating a lifetime value perspective. Why is customer retention almost always a profitable marketing strategy?


Definitions:

Law

A system of rules created and enforced through social or governmental institutions to regulate behavior, with the aim of ensuring order and justice in society.

Development

refers to the process of economic, social, and infrastructural progress in a geographic area or among a population.

Council

An administrative or advisory body elected or appointed to manage and make decisions for a community or organization.

Environmental Quality

Refers to the state of environmental conditions relative to the health, safety, and welfare of living organisms, encompassing air, water, and soil quality as well as ecological health.

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