Which of the following statements about the lifetime value of a customer is true?
A) CRM helps companies identify their customers' lifetime value.
B) All customers have the same lifetime value.
C) A customer's lifetime value is easy to calculate.
D) A company can either increase customer share or a customer's lifetime value, but not both.
E) Lifetime value of a customer does not account for the marketing costs of establishing and maintaining a relationship with the customer.

Question

Quizplus · Accepted Answer

Customer Relationship Management (CRM) helps companies identify their customers' lifetime value by analyzing data on past purchases, customer behavior, and customer demographics. This enables companies to tailor their marketing efforts to target high-value customers and build stronger relationships with them.

Which of the Following Statements About the Lifetime Value of a Customer