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The Resource Top market strategy : applying the 80/20 rule, Elizabeth Rush Kruger, (electronic resource)

Top market strategy : applying the 80/20 rule, Elizabeth Rush Kruger, (electronic resource)

Label
Top market strategy : applying the 80/20 rule
Title
Top market strategy
Title remainder
applying the 80/20 rule
Statement of responsibility
Elizabeth Rush Kruger
Creator
Contributor
Subject
Genre
Language
eng
Summary
Virtually every business seeks to increase its profit from customers, but few business executives realize that a universal principle governs their customer profitability. They may be applying the 80/20 rule to sales, quality control, investing, production, or other business functions without realizing that the 80:20 ratio actually summarizes the Pareto distribution of inputs to outputs. According to his equilibrium theory of relationships, stability is reached when inputs in the top 20% generate 80% of the outputs while inputs in the bottom 80% generate 20% of the outputs. Recently mathematicians confirmed that the Pareto distribution is as universal as the normal "bell-shaped" distribution, but is log linear and predicts results, rather than probabilities. Applying this universal principle to customer profitability, a typical business can predict that customers in the top 20% generate 80% of customer profitability (four times more profit than expected), whereas customers in the bottom 80% generate only 20% (one-fourth as much as expected). This means the 20% most profitable customers tend to be 16 times more profitable than the 80% least profitable customers. In order to capitalize on the Pareto principle, a business should 1. segment its customers by their profitability, 2. distinguish the top 20% of its customers in top market segment from the bottom 80% of the customers in the bottom market segment, and 3. target the top market segment with its marketing strategies. The purpose of this book is to show business students and executives how to implement this process and thereby achieve the predicted results
Member of
Additional physical form
Also available in print version.
Cataloging source
CaBNVSL
http://library.link/vocab/creatorName
Kruger, Elizabeth Rush
Illustrations
illustrations
Index
no index present
LC call number
HF5415.13
LC item number
.K787 2011 EBOOK
Literary form
non fiction
Nature of contents
  • dictionaries
  • abstracts summaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
Credo Reference (Firm)
Series statement
Marketing strategy collection,
http://library.link/vocab/subjectName
  • Marketing
  • Customer relations
  • Profit
Target audience
specialized
Label
Top market strategy : applying the 80/20 rule, Elizabeth Rush Kruger, (electronic resource)
Link
https://brynathyn.idm.oclc.org/login?url=http://search.credoreference.com/content/title/bepeighttwen
Instantiates
Publication
Bibliography note
Includes bibliographical references
Color
multicolored
Contents
Lists of illustrations -- List of tables -- Foreword -- Preface -- Part I. Marketing fundamentals -- 1. Essentials of marketing -- 2. Decisions about customer surveys -- Part II. The 80/20 rule -- 3. The Pareto distribution -- 4. Applications of the 80/20 rule -- Part III. Application to profit from customers -- 5. Segmentation by profit from customers -- 6. Steps of profitability segmentation -- Part IV. How to increase profit from customers -- 7. Interview diverse customers -- 8. Create the customer survey -- 9. Survey customers and analyze responses -- 10. Define the profitability segments -- 11. Distinguish the top market segment -- 12. Evaluate and target the top market segment -- 13. Create research-driven marketing strategies -- 14. Quadruple profit from customers -- Appendix 1. Report on overall JetSpray customers -- Appendix 2. Report on JetSpray's top market segment -- Appendix 3. How to analyze overall customers -- Appendix 4. How to segment customers by profitability -- Appendix 5. How to profile a target market -- Appendix 6. Data worksheet in Microsoft Excel -- References
Control code
9781782681120
Dimensions
unknown
Edition
1st ed.
Extent
1 online resource (38 entries)
Form of item
online
Governing access note
Access restricted to authorized users and institutions
Isbn
9781782681120
Isbn Type
(online)
Other physical details
51 images, digital files.
Specific material designation
remote
System control number
  • (CaBNVSL)slc00231473
  • (Credo)bepeighttwen2011
  • (OCoLC)825028292
System details
Mode of access: World Wide Web
Label
Top market strategy : applying the 80/20 rule, Elizabeth Rush Kruger, (electronic resource)
Link
https://brynathyn.idm.oclc.org/login?url=http://search.credoreference.com/content/title/bepeighttwen
Publication
Bibliography note
Includes bibliographical references
Color
multicolored
Contents
Lists of illustrations -- List of tables -- Foreword -- Preface -- Part I. Marketing fundamentals -- 1. Essentials of marketing -- 2. Decisions about customer surveys -- Part II. The 80/20 rule -- 3. The Pareto distribution -- 4. Applications of the 80/20 rule -- Part III. Application to profit from customers -- 5. Segmentation by profit from customers -- 6. Steps of profitability segmentation -- Part IV. How to increase profit from customers -- 7. Interview diverse customers -- 8. Create the customer survey -- 9. Survey customers and analyze responses -- 10. Define the profitability segments -- 11. Distinguish the top market segment -- 12. Evaluate and target the top market segment -- 13. Create research-driven marketing strategies -- 14. Quadruple profit from customers -- Appendix 1. Report on overall JetSpray customers -- Appendix 2. Report on JetSpray's top market segment -- Appendix 3. How to analyze overall customers -- Appendix 4. How to segment customers by profitability -- Appendix 5. How to profile a target market -- Appendix 6. Data worksheet in Microsoft Excel -- References
Control code
9781782681120
Dimensions
unknown
Edition
1st ed.
Extent
1 online resource (38 entries)
Form of item
online
Governing access note
Access restricted to authorized users and institutions
Isbn
9781782681120
Isbn Type
(online)
Other physical details
51 images, digital files.
Specific material designation
remote
System control number
  • (CaBNVSL)slc00231473
  • (Credo)bepeighttwen2011
  • (OCoLC)825028292
System details
Mode of access: World Wide Web

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