Lifetime Customer Value

question 20

Multiple Choice

Lifetime customer value

• A)puts a value on existing and future customers
• B)puts a value on future customers
• C)focuses on short-term relationship development with customers
• D)aims to increase customer churn

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Definitions:

Schedules of Reinforcement

The strategy or pattern in which rewards or punishments are given to encourage or discourage behavior.

Punishing Contingency

An approach in management or behavioral psychology where negative consequences are applied to reduce or eliminate undesirable behavior.

Operant Conditioning

A training technique where the vigor of a conduct is adjusted by the use of reinforcements or sanctions.

Classical

Relating to traditional concepts, styles, or methods that have been established over a long period.