Customer Lifetime Value Definition and Explanation PDF Download
Learn Customer Lifetime Value definition in marketing with explanation to study “What is Customer Lifetime Value”. Study customer lifetime value explanation with marketing terms to review marketing course for online MBA programs.
Customer Lifetime Value Definition:
Value of the entire stream of purchases that the customer would make over a lifetime of patronage.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Customer Lifetime Value Explanation:
Customer life time value describes the amount a customer is going to spend on the product, throughout their lifetime. Although, it is an important point for a decision to take, since it helps a business to make decision regarding investment in a new business or it is mandatory to retain existing customers or to make new ones.
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