I need assistance with research on the following questions. The references must be from academic journals and other acceptable sources.
Problem 1. What is customer lifetime value?
Problem 2. Describe a situation where a company should focus on CLV to cultivate their customer relationships.
Problem 3. Describe a situation where CLV and customer retention will not be important.
Problem 4. Define and describe database marketing and CRM. What are the pros and cons of database marketing and CRM? What could be an example where each approach is used effectively?