The Text States, "Viewing Customers with a Lifetime Value Perspective

question 81

Essay

The text states, "Viewing customers with a lifetime value perspective rather than on a transaction-by-transaction basis is key to modern customer retention programs." Create an example demonstrating a lifetime value perspective. Why is customer retention almost always a profitable marketing strategy?

---

Definitions:

Lines Of Communication

The formal and informal pathways along which information flows in an organization.

Organizational Commitment

The psychological attachment and loyalty an employee feels towards their organization, often reflecting their willingness to remain part of it.

Consider Job Opportunities

Consider Job Opportunities involves evaluating and possibly pursuing available positions or roles that match one's skills, interests, and career objectives.

Higher Productivity

An increased rate at which goods are produced or services are delivered, often through efficiency improvements, innovation, or better resource management.