Question 3 (15+5-20 marks) Melboume based marketing consultancy firm Melcon offers annual consumer insight analysis to its clients. Its primary clients are supermarkets, clothing stores and electronics retailers. The following table provides the number of customers, expenses per client, service fee per client, and retention rate for each of the three sectors. The company applies a discount rate of 15% and has a 3-year planning horizon. Sector No. of clients Avg. Annual expenses per client Service fee per Retention client rate $150,0000 Supermarkets Clothing Electronics 50 60 $250,000 $250,000 $200,000 90% 95% 100% 55 $210.000 $250,000 a. Calculate the CLV for Mels clients in each of the three sectors, over the planning horizon (3 years). b. Suppose if Melson, wants to acquire new customers, which sector should it target and why? Answer here: Question 3 (15+5-20 marks) Melboume based marketing consultancy firm Melcon offers annual consumer insight analysis to its clients. Its primary clients are supermarkets, clothing stores and electronics retailers. The following table provides the number of customers, expenses per client, service fee per client, and retention rate for each of the three sectors. The company applies a discount rate of 15% and has a 3-year planning horizon. Sector No. of clients Avg. Annual expenses per client Service fee per Retention client rate $150,0000 Supermarkets Clothing Electronics 50 60 $250,000 $250,000 $200,000 90% 95% 100% 55 $210.000 $250,000 a. Calculate the CLV for Mels clients in each of the three sectors, over the planning horizon (3 years). b. Suppose if Melson, wants to acquire new customers, which sector should it target and why? Answer here