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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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