A Company Uses Lifetime Value to Segment Their Customers into Five

question 110

Multiple Choice

A company uses lifetime value to segment their customers into five different segments.The marketing approach that should be used for the top segment,which has the highest lifetime value,is:

• A) offer them price incentives that will increase their purchase level
• B) reward them for their patronage
• C) reward them for their patronage and encourage them to spend more money with the firm
• D) encourage them to increase their purchase level so they can move up to the next highest group

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Definitions:

Special Kind

A unique or particular type or category that stands out from others.

Draft

An instrument validating an order by a drawer to a drawee to pay a payee.

UCC

The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the laws across the states.

Parties

in legal terms involve individuals, companies, or entities who are directly involved in a lawsuit or legal agreement.