Customer Lifetime Value (CLV) Represents the Approximate Worth of a Customer

question 93

True/False

Customer lifetime value (CLV) represents the approximate worth of a customer to a company in economic terms.

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Definitions:

Viral Marketing

Viral Marketing is a strategy that encourages individuals to share a marketing message to friends, family, and others, rapidly spreading word-of-mouth information about a brand or product.

Social Media

Websites and applications that enable users to create and share content or to participate in social networking.

Forward Auction

An auction where an item or service is offered for sale and buyers submit ascending bids, in contrast to a reverse auction where sellers compete to provide goods or services at the lowest price.

Highest Bidder

The individual or entity willing to pay the most for an item or asset in an auction setting.