Which of the Following Best Describes Lifetime Customer Value

question 70

Multiple Choice

Which of the following best describes lifetime customer value?

• A)It is the value a customer places on specific ways of satisfying a basic need.
• B)It is the value companies place on an individual transaction with a customer.
• C)It is the present value of a stream of revenue that can be produced by a customer over time.
• D)It is the value a company places on selling the product to more than one customer.

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Definitions:

Measures of Success

Criteria or benchmarks used to evaluate the effectiveness or achievement of a particular activity or goal.

Decision Makers

Decision makers are individuals or groups responsible for making choices that can affect an organization or other group's course of action.

Marketing Research Approach

A systematic method that involves collecting and analyzing data to understand market trends, customer preferences, and product potential.

Data Mining

The process of analyzing large sets of data to discover patterns, trends, and relationships that can inform decision-making and strategic planning.