Companies that successfully practice customer relationship management measure success by ________.
A)share of market and market growth rate
B)business potential and industry potential
C)share of customer and lifetime value of the customer
D)PRIZM and VALS2
E)cost of customer and duration of relationship with customer

Question

Quizplus · Accepted Answer

Companies that successfully practice customer relationship management measure success by measuring the share of customer and lifetime value of the customer. This means they focus on retaining existing customers by building strong relationships with them, rather than just acquiring new customers. By measuring share of customer, they can track the percentage of a customer's purchases that come from the company, while lifetime value of the customer measures the total value that a customer brings to the company over their entire relationship.

Companies That Successfully Practice Customer Relationship Management Measure Success by ________