A retailer that uses strategies to enhance long-term mutually beneficial relationships with its customers is considering the ______ of each customer.
A)marketing value
B)competitive value
C)lifetime value
D)advertising cost
E)financial cost

Question

Quizplus · Accepted Answer

The term "lifetime value" refers to the total amount of revenue a customer is expected to generate for a business over the course of their lifetime as a customer. By considering each customer's lifetime value, the retailer can tailor strategies to enhance their relationship and ensure that they continue to do business with them in the long-term. This approach is more focused on building customer loyalty than just maximizing short-term profits, which can lead to a higher overall value for the business.

A Retailer That Uses Strategies to Enhance Long-Term Mutually Beneficial