The Dynamic Marketing Environment and Determining Price

The Dynamic Marketing Environment and Determining Price
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In marketing the 80/20 rule highlights that 80% comes from 20% of a source and is most applicable where 80% of sales come from 20% of the products, or that 80% of profits come from 20% of customers. Identifying the 20% of the products that customers prefer helps to focus on efforts that guarantee more returns. Additionally, identifying 80% of the results helps to determine the 20% that determines actions and what works well. In online content, when 80% of the content generates trust, then even 20% of self-promotion will likely influence the target market. When using the 80/20 rule, there is an assumption that the more frequently an action occurs, the greater the impact it has on the result.
When 20% of the customers generate 80% of the turnover, then more resources should be focused on keeping these customers and maximize returns. The 20% that matters to an o...