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Customer Lifetime Value Is One of the Most-Discussed Topics in Marketing

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Essay

Customer Lifetime Value is one of the most-discussed topics in marketing today.Explain what CLV means, the basic structure of a CLV calculation, and give one or more examples of how it can be used to improve marketing programs.


Definitions:

Exchange Controls

Restrictions that a government may impose over the quantity of foreign currency demand by its citizens and firms and over the rate of exchange as a way to limit the nation’s quantity of outpayments relative to its quantity of inpayments (in order to eliminate a payments deficit).

Flexible Exchange Rates

Foreign exchange system where the value of currencies is determined by supply and demand in the forex market, without direct government intervention.

Services Trade

The exchange of services between countries, including sectors such as finance, insurance, transport, and tourism.

Goods Trade

The act of buying, selling, or exchanging tangible products between countries or within a country.

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