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Explain the Concept of Lifetime Customer Value

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Essay

Explain the concept of lifetime customer value.


Definitions:

Self-serving Bias

The tendency to attribute one's successes to internal factors and failures to external factors, protecting self-esteem.

Dispositional Reasons

Explanations for behavior that are attributed to an individual's inherent qualities or personality traits.

Disposition

A person's inherent qualities of mind and character.

Perceptual Defence

The subconscious avoidance or modification of perceiving threatening or emotionally disturbing information to protect the self.

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