The Approximate Worth of a Customer to a Company in Economic

question 97

Multiple Choice

The approximate worth of a customer to a company in economic terms is known as _____.

• A) net present value (NPV)
• B) customer lifetime value (CLV)
• C) customer present value (CPV)
• D) customer future value (CFV)
• E) customer value (CV)

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Definitions:

Creative Destruction

The process through which new innovations lead to the demise of older technologies, promoting progress and economic growth.

Diffusion

The process by which an innovation is communicated through certain channels over time among the members of a social system.

R&D

Short for Research and Development, involving investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.

Invention

The creation of a new product, system, or process that has never before been made and is recognized as the product of some unique insight.