Compare the 80-20 Rule and the Whale Curve as It

question 23

Essay

Compare the 80-20 rule and the whale curve as it relates to customer profitability.

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Definitions:

Chain Referral

A sampling method where existing study subjects recruit future subjects from among their acquaintances.

Quota Sampling

a market research technique that involves selectively collecting samples from a specific subset of a population, ensuring representation based on characteristics.

Initial Discovery

The first stage of research or inquiry where a new idea, phenomenon, or piece of information is identified.

Research

The systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions.