The 80-20 Rule Reflects the Idea That ________

question 47

Multiple Choice

The 80-20 rule reflects the idea that ________.

• A) 20 percent of the company's profits are generated by the top 80 percent of customers
• B) the top 20 percent of customers are highly satisfied and 80 percent of customers will recommend the company to a friend
• C) 20 percent of customers are unprofitable, and 80 percent make up a company's profits
• D) the top 20 percent of customers often generate 80 percent of the company's profits
• E) any new product will be accepted by 20 percent of the customers immediately, but 80 percent of the customers will be up for grabs throughout the product's life cycle

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Definitions:

Disbelieve

To hold no conviction in the truth, existence, or reliability of something, often despite contrary evidence.

Brainstorming

A group creativity technique designed to generate a wide range of ideas for the solution of a problem.

Media Richness

Refers to the degree of acoustic, visual, and personal interaction that can be facilitated by a communication medium.

Feedback

Information about reactions to a product, a person's performance of a task, etc., used as a basis for improvement.