Explain Why a Supermarket Owner Might Consider Customer Lifetime Value

question 103

Essay

Explain why a supermarket owner might consider customer lifetime value when a disgruntled customer leaves the store dissatisfied.

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Definitions:

Organizational Socialization Process

The method through which new employees acquire the necessary skills, knowledge, behaviors, and values to effectively integrate into an organization.

Final Stage

Represents the last phase in a process or development sequence, often signaling the completion of a project or the attainment of a goal.

Fit Perspective

A viewpoint in psychology and organizational behavior that emphasizes the alignment between an individual's abilities, needs, and values and their work environment's demands, rewards, and culture.

Culture

The shared beliefs, customs, practices, and social behavior of a particular nation or people.