Effects On Business Practices
Its use as a marketing metric tends to place greater emphasis on customer service and long-term customer satisfaction, rather than on maximizing short-term sales.
Read more about this topic: Customer Lifetime Value
Famous quotes containing the words effects, business and/or practices:
“Trade and commerce, if they were not made of India-rubber, would never manage to bounce over the obstacles which legislators are continually putting in their way; and, if one were to judge these men wholly by the effects of their actions and not partly by their intentions, they would deserve to be classed and punished with those mischievous persons who put obstructions on the railroads.”
—Henry David Thoreau (1817–1862)
“Being good in business is the most fascinating kind of art.... Making money is art and working is art and good business is the best art.”
—Andy Warhol (1928–1987)
“They that have grown old in a single state are generally found to be morose, fretful and captious; tenacious of their own practices and maxims; soon offended by contradiction or negligence; and impatient of any association but with those that will watch their nod, and submit themselves to unlimited authority.”
—Samuel Johnson (1709–1784)