What is the relationship between the ELMS system and the 80/20 principle?
What will be an ideal response?
The ELMS system defines accounts in terms of extra-large, large, medium and small. The 80/20 principle explains that these extra-large accounts typically represent 80 percent of a company's profitable sales and only 20 percent of its total accounts. Both emphasize that some accounts are large and need more attention.
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Customer complaints are opportunities for building customer loyalty
Indicate whether the statement is true or false
On average, salespeople spend most of their work time on:
A) sales meetings and conference calls B) administrative tasks and travel C) face-to-face selling D) customer follow-up E) prospecting
A retailer aims efforts at two or more distinct consumer groups, with different retailing approaches for each group, in _____
a. differentiated marketing b. mass marketing c. target marketing d. undifferentiated marketing
Which of the following is most likely an example of routine response behavior?
a. The purchase of a cruise vacation b. A homeowner's purchase of a new grill for $600 c. The first-time purchase of a copy machine d. The purchase of groceries