When Olivia Learned That Just Twenty of Her Yoga Studio

question 15

Multiple Choice

When Olivia learned that just twenty of her yoga studio customers accounted for 80 percent of her annual revenue,she probably

• A) adjusted class schedules to meet the needs of those twenty customers.
• B) surveyed those twenty customers to see what other types of yoga classes they were interested in.
• C) offered a special session for just those twenty customers.
• D) analyzed the geodemographics of those twenty customers to see how she could attract more people like them.
• E) did all of these tasks.

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Definitions:

Future Sales Volume

An estimation of the quantity of goods or services that a company expects to sell in a future period.

Marketing Mix

The mix of elements a company can manage to encourage consumers to buy its offerings, commonly recognized as the 4Ps: product, price, place, and promotion.

Market Forecast

The projection or estimation of future market trends, sizes, and characteristics based on current and historical data.

Sales in An Industry

The total volume or value of all products or services sold within a specific industry over a certain period.