Which is the first step in customer lifetime value CLV) maximization cycle?
A)Pitching the Right Product to the Right Customer at the Right Time
B)Managing Loyalty and Profitability Simultaneously
C)Customer Selection
D)Optimal Allocation of Resources
E)Preventing Customer Attrition

Question

Quizplus · Accepted Answer

The first step in the customer lifetime value maximization cycle is customer selection. This involves identifying the types of customers that are most valuable to the company and targeting marketing efforts towards them. By focusing on the right customers, companies can increase their CLV and maximize their profits.

Which Is the First Step in Customer Lifetime Value CLV)