1. Why is it important for the marketer to distinguish between customer acquisition, conversion, and retention when developing marketing strategies? 2. In addition to the offer, what are the elements of a direct marketing strategy? 3. How do direct marketers distinguish between the "front end" and the "back end" of a transaction? Why is this important? 4. Explain the customer lifetime value (CLV) concept. Thinking about a specific firm, how could it use the concept of CLV to increase the overall profitability of its customer base? Minimum 150 words for each questions, add in text citations and references