The present day value of all net margins earned from a relationship with a customer is called ____________.
a. Customer Lifetime Value
b. Value Profit Index
c. Opportunity cost
d. Customer Value
Ans: a. Customer Lifetime Value
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If the cross elasticity of demand is negative, that means the goods
A) have elastic demands. B) have inelastic demands. C) are complements. D) are substitutes. E) are inferior.
If the demand for bathing suits and supply of bathing suits both decrease, then definitely the equilibrium
A) price will decrease. B) price will increase. C) quantity will increase. D) quantity will decrease.
An increase in the tariff on semiconductors lowers the effective rate of protection of computer producers
Indicate whether the statement is true or false
A fair bet is one where
A) the player has a 50/50 chance of winning. B) the player's utility function is convex. C) the expected value is zero. D) the expected value is positive.