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Discuss the role of value in developing long-term customer relationships. In your discussion, explain the value formula and its component parts. How can the value formula help marketers design strategies to optimize customer value?
Fees Earned
The revenue a company generates from providing services during a given accounting period.
Salaries Expense
This refers to the total amount paid by a company for employee salaries over a specific period, recorded on the income statement.
Trial Balance
A bookkeeping worksheet listing the balances of all ledgers in two columns, debits and credits, used to verify the equality of the two totals.
Cash Dividend
A payment made by a company to its shareholders, typically in the form of cash, out of its profits or reserves.
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