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In Customer Relationship Management (CRM)what is lifetime value of customer? The definition states...The potential profit generated by a single
customer’s purchase of a firm’s products over the customer’s lifetime.
I am not understanding this fully

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    A financial advisor explained to me today his philosophy of business. He gives his clients the best service he can. In that way he keeps his clients for a long time. These satisfied clients are also likely to refer other potential clients to him.

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