The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.
A)usage occasions
B)mass customisation
C)lifetime value of a customer
D)share of the customer
E)VALS

Question

Quizplus · Accepted Answer

The term "lifetime value of a customer" refers to the total amount of revenue a customer generates for a company over the course of their relationship. It takes into account both the initial purchase and any future purchases the customer makes. Understanding a customer's lifetime value is important for businesses because it allows them to allocate their resources more effectively and improve their overall profitability.

The ________ Is the Potential Profit Generated by a Single