The paper is a review of existing 35 literatures that have studied the impact of customer satisfaction and loyalty on Customer Lifetime Value. The paper makes an analysis from previous studies that have studied the impact and association between the selected variables of study. In order to bring more light into the context, the authors have also included the association of Word-of-Mouth with satisfaction and loyalty in the study. Over the years, authors have found how satisfaction and loyalty are inter-dependent and how they are important drivers for making customers repeat their purchases. Previous studies concluded that even the referral intentions of customers are highly influenced by satisfaction and loyalty. However, a few authors have opined that satisfaction and loyalty are over prioritized by many marketers. The paper shall be of use to academicians working in the lines of marketing and also benefit marketers in identifying a correct approach towards calculating Customer Lifetime Value.