Question: 1) Explain why is it important for marketers to distinguish between customer acquisition, conversion, and retention when developing marketing their strategies? 2) Explain the customer

1) Explain why is it important for marketers to distinguish between customer acquisition, conversion, and retention when developing marketing their strategies?

2) Explain the customer lifetime value (CLV) concept. Then choose a business (B2C, or B2B) or non profit organization and explain, how is it using the concept of CLV to increase the overall profitability of its customer base?

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