Revenues and intangible benefits such as referrals and feedback a consumer brings to the seller over an average period of their relationship,less the amount the company must spend to acquire,market to,and service the customer is known as the _____.
A)rate of customer coverage
B)customer turnover rate
C)lifetime value of a customer
D)net customer yield

Question

Quizplus · Accepted Answer

The definition provided matches the concept of "lifetime value of a customer", which takes into account both the revenues and intangible benefits a customer brings to the company over time, minus the costs incurred to acquire and serve that customer. Option A (rate of customer coverage), Option B (customer turnover rate), and Option D (net customer yield) do not accurately describe this concept.

Revenues and Intangible Benefits Such as Referrals and Feedback a Consumer