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:

Representativeness

The degree to which elected or appointed representatives in a decision-making body reflect the demographics or opinions of the larger group they represent.

Business Unionism

A union model focused on negotiating labor contracts pertaining to wages, benefits, and working conditions, rather than broader societal or political goals.

Collective Bargaining

The process by which labor unions and employers negotiate contracts regarding wages, hours, benefits, and working conditions on behalf of employees.

Political Activism

The collective actions or endeavors to promote, impede, direct, or intervene in social, political, economic, or environmental reform with the desire to make changes in society.