Examlex
The term "lifetime value of a customer" refers to revenues and intangible benefits such as referrals and customer feedback a customer brings to the seller over an average lifetime of their relationship,less the amount the company must spend to acquire,market to,and service the customer.
Identical Demand
Refers to a market situation where all consumers have the same desire or need for a particular product or service.
Demand Elasticities
Demand elasticities measure how sensitive the quantity demanded of a good or service is to changes in its price, income levels, or other factors.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to buy at various prices.
Competitive Price-Searcher
A market condition where firms continually search for the best prices to maximize their profits in a competitive environment.
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