Review the article below on EVC (economic value to the customer).EVC is the dollar value worth of how much benefit a customer derives from using a product (Gallo, 2015).

• Choose one product you use on a regular basis, but not one mentioned in this article.
• Try to calculate your annual EVC for that product.
• Discuss how you arrived at your EVC, including the tangible and intangible benefits you observed.
• Discuss how your EVC relates to the selling price for the product (e.g., higher? lower? by how much?)

Gallo, A. (2015). A Refresher on Economic Value to the Customer.Harvard Business Review Digital Articles, 2-6.http://ezproxy.umgc.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=heh&AN=118666887&site=eds-live&scope=site

TOPIC 4: CUSTOMER LIFETIME VALUE- Personal Application

The goal of any formal customer relationship management program is to attract and retain profitable customers with high customer lifetime value.

Identify a company for which you might be considered a valuable customer.Let's see what you might be worth to that company in terms of lifetime value (LTV).Are you a highly profitable customer for that company?

• Visithttps://neilpatel.com/blog/how-to-calculate-lifetime-value/. This site will give you an example of lifetime value using Starbucks as an example. Note all the variables that go into lifetime value calculations.
• Record your lifetime value calculation and discuss how the company tries to retain and grow your business as a valuable customer.

How to calculate lifetime value [Infographic]. (n.d.).https://neilpatel.com/blog/how-to-calculate-lifetime-value/