The "20- 80 Rule," as the Term Generally Is Used

question 133

Multiple Choice

The "20- 80 rule," as the term generally is used in marketing research, means:

• A) predictions about brand usage are correct 20 percent of the time, incorrect 80 percent of the time
• B) about 20 percent of the world's total consumption of products is by the U.S. and the remaining 80 percent represents the rest of the countries' consumption
• C) about 20 percent of a product's users account for 80 percent of the volume sold
• D) about 20 percent of buyers use coupons or special offers for 80 percent of their purchases
• E) about 20 percent of consumers are brand loyal and 80 percent buy various brands as a matter of course

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Definitions:

Upper CASE Tools

Tools that are used to automate the early stages of the SDLC (systems investigation, analysis, and design).

SDLC

The Software Development Life Cycle (SDLC) is a framework defining tasks performed at each step in the software development process.

Lower CASE Tools

Tools used to automate later stages in the SDLC (programming, testing, operation, and maintenance).

SDLC

Short for Software Development Life Cycle, it is a process for planning, creating, testing, and deploying an information system.