Identify the basic marketing metrics used in marketing. Match the term to the definition. (Drag-and-drop your answer to the appropriate box.)

Question

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Amount spent to convince a customer to buy a product or service
Measure of customer profitability over entire relationship
Management tool that can be used to engage the loyalty of a firm’s customer relationship

Answer 1

Here are the basic marketing metrics matched to their definitions:

1. Cost Per Acquisition (CPA) - Amount spent to convince a customer to buy a product or service.
2. Customer Lifetime Value (CLV) - Measure of customer profitability over entire relationship.
3. Customer Relationship Management (CRM) - Management tool that can be used to engage the loyalty of a firm’s customer relationship.