Answered

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Which statement best describes the concept of customer lifetime value (CLV)?

A. CLV is what retailers use to rate the value of guaranteed merchandise.
B. CLV is the value placed upon a retailer by a consumer.
C. CLV is what a customer contributes to a retailer's profits over their entire relationship with the retailer.
D. CLV is an assessment of how many valued customers shop with a retailer.

Sagot :

GinnyAnswer

Final answer:

Customer Lifetime Value (CLV) is the value a customer contributes to a retailer's profits over their entire relationship, assisting businesses in making strategic decisions.


Explanation:

Customer Lifetime Value (CLV) refers to the value a customer contributes to a retailer's profits over their entire relationship with the retailer. It is a crucial metric for businesses to understand the long-term value of their customer base and tailor their marketing strategies accordingly. By calculating CLV, companies can make informed decisions on customer acquisition, retention, and overall business growth.


Learn more about Customer Lifetime Value (CLV) here:

https://brainly.com/question/28539902


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