Discuss Customer Life-Time-Value. Is this concept relevant for all products and services?
Discuss Customer Life-Time-Value. Is this concept relevant for all products and services?
Homework Answers
The customer lifetime value is relevant to all businesses because of the following reason:
1. 95% of the revenue comes from repeat customers.
2. It is relevant to all the companies and industries.
3. The customer time value even helps to add additional customers through word of mouth publicity
4. Customers must be provided with product and services which should lead to delight. This implies the product or services above their perception. This would increase the time period of the customer lifetime value.
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Discuss Customer Life-Time-Value. Is this concept relevant for
all products and services?
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