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Customer lifetime value - Definition and Overview |
| Related Words: Being, Bloke, Body, Buyer, Cat, Character, Client, Consumer, Creature, Duck, Earthling, Fellow, Guy, Hand, Head, Homo, Human, Individual, Joker, Life, Man, Mark, Mortal |
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This is a long-term marketing principle which looks at the value to the company of a customer over the whole time that they relate with the company. This includes knowing that although a customer may temporarily use another company's products/services, they can return.
One important consequence of a company taking the long-term view to heart and into action is that the customer tends to have better service and hence tends to be more loyal.
See Customer focus, Marketing strategies
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