Explain the Concept of Customer Lifetime Value (CLV)

question 56

Essay

Explain the concept of Customer Lifetime Value (CLV).Think of a product you have purchased (e.g.,toothpaste,soft drink,computer)and estimate your lifetime value to the manufacturer of a specific brand. What can the marketer of that brand do to ensure you remain loyal to that brand?

Recognize the role and significance of international benchmarks and indexes in evaluating investment performance.

Understand the interplay between interest rates and exchange rates in the global financial market.

Understand the role and growth of employee relations in organizations.

Recognize how internal communications contribute to organizational culture and employee morale.

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Definitions:

Relationship

How two or more notions, entities, or persons have a bond between them, or the existence of such a bond.

Contradictories

Statements or propositions that are in direct opposition to each other, such that if one is true, the other must be false.

Contraries

Assertions or claims that are mutually exclusive in truth but can simultaneously be incorrect.

Contrapositive

In logic, a statement formed by negating both the hypothesis and conclusion of the converse of a conditional statement and then reversing them.