According to Relationship Marketing, the Lifetime Value of a Customer

question 132

True/False

According to relationship marketing, the lifetime value of a customer should exceed the investment made by the firm to attract and keep the customer.

---

Definitions:

Significance Level

A threshold in hypothesis testing below which an observed effect is considered statistically significant.

Logistic Regression

Logistic regression is a statistical method for analyzing datasets in which there are one or more independent variables that determine an outcome, used especially for predicting binary outcomes.

Odds

A ratio comparing the likelihood of certain events occurring versus them not occurring, often used in gambling and statistics.

Success

The achievement of a set goal or objective, often measured by criteria set by individuals or organizations.