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- Explain the concept of Customer Lifetime Value (CLV) and its significance in CRM. How can businesses use CLV to make strategic decisions?Identify the three components of a CRM architecture and describe how each component contributes to a customer-focused company and excellent customer experience.Discuss the specific risks associated with using each of the business level strategies
- Define the concept of customer lifetime value (CLV). What are your thoughts on this concept? Is it sometimes more profitable for a company to invest more resources in retaining current customers than trying to attract new customers?explain thoroughly why option is right and why others are wrongHow does CRM contribute to marketing efforts? Explain the concept of marketing automation and its role in CRM.
- Explore the impact of CRM on customer experience and loyalty, and provide case studies of companies that have successfully leveraged CRM for these purposes.What are some typical things that customers want?Five strong and weak examples of a firm using CRM to create customer value. Contrast the pros and cons of each one.