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Explain Share of Customer,lifetime Value of a Customer and Customer

question 116

Essay

Explain share of customer,lifetime value of a customer and customer equity and how these concepts relate to CRM.


Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Decrease in Quantity

A reduction in the amount of a good or service produced or available for sale.

Gardenburgers

A brand of meatless burgers made primarily from vegetables and grains.

Supply Curve

A graph showing the relationship between the price of a good and the quantity of that good that suppliers are willing to sell at various prices.

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