Can You Briefly Explain CLV (Customer Life Time Value)?

Marketers' job is to build long-term association with Customer and his need. Since need is re-occurring, Marketers long-term principle is to look at the value of the customer to the Company over the whole time of his being a customer. This relationship IS BUILT WITH A CUSTOMER over a long period of time and for a long time. Whenever the need arises, the customer relate to that product to satisfy need. Whenever he feels hungry and wants to eat fast, he reverts to burgers and he decides in favour of a specific brand. Even if he tries other brands of burgers, he would revert back to that brand more strongly and shows his loyalty.

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