Customer Lifetime Value (CLV)refers to The

question 63

Multiple Choice

Customer lifetime value (CLV) refers to the:

• A)sum total of benefits that a vendor promises a customer will receive in return for the customer's loyalty for his or her lifetime.
• B)strategy for managing a company's interactions with customers, clients, and sales prospects.
• C)total value of purchases of a customer over a lifetime of patronage.
• D)tendency of a customer to stick with a brand even when it is priced higher than an otherwise equal product.
• E)the provision of service to customers before, during, and after a purchase.

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Definitions:

Nonresidential Real Estate

Refers to properties used solely for business purposes or to provide a workspace rather than as a living space, which includes offices, retail spaces, and industrial properties.

Residential Real Estate

Property intended for housing, such as single-family homes, condominiums, and townhouses, as opposed to commercial or industrial property.

Inventories

The raw materials, work-in-progress goods, and finished goods that a company holds for the purpose of sale in the future.

Consumer Durables

Goods that are not for immediate consumption and are able to be used over a longer period, like appliances and vehicles.