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    Question

    What is meant by customer lifetime value?   

    A Sum of costs incurred while servicing the customer over his lifetime Correct Answer Incorrect Answer
    B Rank given to customer based on business generated Correct Answer Incorrect Answer
    C Sum of economic benefits that can be achieved by building a long term relationship with the customer Correct Answer Incorrect Answer
    D Maximum insurance that can be attributed to the customer Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Sum of economic benefits that can be achieved by building a long term relationship with the customer is referred to as customer lifetime value.

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