Explain the Concept of the 80/20 Rule and Why It

question 36

Essay

Explain the concept of the 80/20 rule and why it is important to marketers.

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Definitions:

Possessory Interest

A property interest in which an individual or entity has the right to possess and use property without owning it.

Land

denotes the earth's surface extending downward to the center of the earth and upward infinitely into space, including all things permanently attached naturally or by humans.

Freehold Estate

An interest in land that grants the holder full rights to use and control the land for an indefinite period.

Real Property

Land and anything permanently attached to it, such as buildings and other structures, which is distinct from personal property.