The concept that one could identify which customers might be most profitable is known as
A) Voice of the Customer
B) Quality Function Deployment
C) Customer Lifetime Value
D) Net Present Value
E) None of the above

Question

Quizplus · Accepted Answer

Customer Lifetime Value is the concept of identifying which customers are likely to provide the most profit over the entire duration of their relationship with a business. This includes factors such as their purchasing frequency, average order value, and length of time as a customer. By identifying these high-value customers, a business can focus its efforts on retaining them and maximizing their long-term value.

The Concept That One Could Identify Which Customers Might Be