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For the concepts of Customer Lifetime Value and Share-of-Wallet : Provide definitions. (4 marks) Explain why each is an important metric for a business. (4

For the concepts of Customer Lifetime Value and Share-of-Wallet:

Provide definitions. (4 marks)

Explain why each is an important metric for a business. (4 marks)

Identify the business philosophy to which both are associated. (2 marks)

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