Question

The element of a CRM program in which a customer's lifetime value is calculated is referred to as?

1) Segmenting customers
2) Predicting customer behaviors
3) Customer value determination
4) Customer preference determination

Answer 1

Customer value determination is the element of a CRM program where a customer's lifetime value is calculated.

Step-by-step explanation:

The element of a CRM program in which a customer's lifetime value is calculated is referred to as customer value determination. This aspect of CRM involves using various metrics and formulas to assess the overall value that a customer brings to a business over their lifetime. It takes into account factors such as purchase history, frequency of purchases, and average transaction value.