Which of the Following Statements Best Describes a Customer Lifetime

question 35

Multiple Choice

Which of the following statements best describes a customer lifetime value (CLV) ?

• A) CLV is the value placed upon a retailer by a consumer.
• B) CLV is a numerical value of how much a "best customer" shops.
• C) CLV is what a customer contributes to a retailer's profits over his or her entire relationship with the retailer.
• D) CLV is an assessment of how many valued customers shop with a retailer.
• E) CLV is what retailers use to rate the value of guaranteed merchandise.

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Definitions:

William Kornhauser

A sociologist known for his work on mass society theory, focusing on the effects of mass media and urbanization on social cohesion and individual behavior.

Émile Durkheim

Émile Durkheim was a French sociologist, social psychologist, and philosopher who is considered one of the founding fathers of sociology, known for his work on social cohesion and the role of religion in society.

Noam Chomsky

An American linguist, philosopher, cognitive scientist, and social critic, well-known for his critique of media and US foreign policy, as well as for founding modern linguistics.

Motorcycle Clubs

Social organizations of individuals who are enthusiasts of motorcycle riding, often characterized by shared values, rituals, and allegiance to the club's culture.