Question

It is important to manage customer relationships because customers provide a great deal of value to the company if they remain customers for many years. ________ predicts how much profit is associated with a customer during the course of their lifetime relationship with a company.

Answer 1

Answer:

Customer lifetime value predicts how much profit is associated with a customer during the course of their lifetime relationship with a company.

Explanation:

It is important to manage customer relationships because customers provide a great deal of value to the company if they remain customers for many years.

Customer lifetime value is greater for companies who have loyal customers as compared to customers who are one time only. They add less value to the company as customers are also a source of promotion for the company.