67. The potential sales that will be generated by a customer if the customer remains loyal to that company for a lifetime are referred to as customer lifetime _____.
A. motiveB.valueC. behaviourD. profitsCompanies are starting to focus on the value of a customer if that customer remains loyal to the firm over the customer's lifetime. This is referred to as customer lifetime value.Accessibility: Keyboard NavigationBlooms: RememberDifficulty: EasyLearning Objective: 14-04 Define database marketing; data mining; and customer lifetime value; and explain why each is important.Topic: 14-16 Customer Lifetime Value
68. Nathan, who runs a grocery store, looks at each customer as an investment. Nathan is referring to each customer's _____.
Accessibility: Keyboard NavigationBlooms: UnderstandDifficulty: ModerateLearning Objective: 14-04 Define database marketing; data mining; and customer lifetime value; and explain why each is important.Topic: 14-16 Customer Lifetime ValueMagnet Inc., a retailer selling household electronics, stores all the data about customers in a central place, and analyzes this to get insights about customers. It has recently changed its store layout, during renovation, to include softer colours and less noise to appeal to women. Increased visibility of extra stock has been made available to the customers.