The 80/20 Rule for Customer Profitability Refers to What

question 72

Multiple Choice

The 80/20 rule for customer profitability refers to what?

• A) That most of a firm's customers are likely to be high profit customers
• B) That most of a firm's efforts at retaining customers will be focused on a small group of customers
• C) That most of a firm's profits are generated from a relatively small group of customers
• D) That most of a firm's customers will complain about service at some point in time.

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Definitions:

Individual Identity

Individual identity refers to a person's sense of self, shaped by personal choices, experiences, and various social and cultural factors.

White Privilege

The societal privileges that benefit white people over non-white people in some societies, particularly if they are otherwise under the same social, political, or economic circumstances.

Institutional Racism

The systemic policies and practices within and across institutions that perpetuate racial inequality and discrimination against certain racial or ethnic groups.

Colonial Exploitation

The economic and social practices by which colonial powers extracted resources and labor from colonized countries, often leading to long-term developmental disparities.