What does Customer Lifetime Value (CLV) represent?Answer choicesSelect only one optionREVISITThe total number of purchases a customer makesThe value of a customer's first purchaseThe total revenue a business can expect from a single customer accountThe average value of a customer's purchases

Why is Customer Lifetime Value (CLV) important?Answer choicesSelect only one optionREVISITIt determines the company's total revenueIt helps determine the value different customers bring over their lifetimeIt helps in setting the price of productsIt determines the company's market share

Which of the following factors is NOT considered when calculating Customer Lifetime Value (CLV)?Answer choicesSelect only one optionREVISITAverage purchase valueAverage purchase frequencyCompany's total revenueCustomer's average lifespan

Which of the following is the correct formula to calculate Customer Lifetime Value (CLV)?Answer choicesSelect only one optionREVISITAverage Purchase Value * Purchase Frequency * Customer LifespanAverage Purchase Value / Purchase Frequency * Customer LifespanAverage Purchase Value + Purchase Frequency * Customer LifespanAverage Purchase Value - Purchase Frequency * Customer Lifespan

What is customer lifetime value?1 pointThe process a customer follows to purchaseA business’s total number of customersThe average revenue generated per customer over a certain period How much revenue is gained versus how much was spent

What is the relationship between Customer Lifetime Value (CLV) and churn rate?Answer choicesSelect only one optionREVISITThere is an inverse relationship between CLV and churn rateThere is a direct relationship between CLV and churn rateThere is no relationship between CLV and churn rateThe relationship between CLV and churn rate varies depending on the industry