Which of the following statements illustrates the 80/20 rule?
A. "20 percent of our marketing effort is wasted, but we don't know which 20 percent."
B. "We don't know whether our profits are 20 percent higher than we deserve, or only 80 percent of what might be easily obtained."
C. "80 percent of our target market doesn't respond to our marketing mix, and we only have a 20 percent market share."
D. "Of the hundred retailers who carry our products, the top twenty account for nearly 80 percent of our total business."
E. None of these answers is correct.
Answer: D
You might also like to view...
A company had no office supplies available at the beginning of the year. During the year, the company purchased $300 worth of office supplies. On December 31, $90 worth of office supplies remained. How much should the company report as office supplies expense for the year?
A. $90. B. $300. C. $190. D. $390. E. $210.
The sales process refers to the checklist salespeople use to prepare themselves for dealing with prospects' objections.
Answer the following statement true (T) or false (F)
Contribution margin (CM) is the amount that remains after all fixed costs are subtracted from sales
Indicate whether the statement is true or false
Inventoriable cost is a synonym of product cost
Indicate whether the statement is true or false