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Business, 15.04.2020 19:09 KetaFord1978
Customer lifetime Value {CLV) refers to the expected financial contribution from a particular customer to the firm's profits over the course of their entire relationship. To estimate CLV, firms use past behaviors to forecast future purchases, the gross margin from these purchases, and the costs associated with servicing the customers . Some costs associated with maintaining customer relationships include communicating with customers through advertising, personal selling. or other promotional vehicles to acquire their business initially and then retain them overtime.
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