Which of the Following Statements Illustrates the 80/20 Rule

question 106

Multiple Choice

Which of the following statements illustrates the 80/20 rule?

• A) "80 percent of our target market doesn't respond to our marketing mix, and we only have a 20 percent market share."
• B) "Of the hundred retailers who carry our products, the top twenty account for nearly 80 percent of our total business."
• C) "20 percent of our marketing effort is wasted, but we don't know which 20 percent."
• D) "We don't know whether our profits are 20 percent higher than we deserve, or only 80 percent of what might be easily obtained."
• E) None of the above.

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Definitions:

Blind Spot

Area in the retina where the axons of the three layers of retinal cells exit the eye to form the optic nerve; insensitive to light.

Fovea

A small depression in the retina of the eye where visual acuity is highest, due to the high concentration of cones and absence of rods.

Saturation

In color theory, saturation refers to the intensity or purity of a color; in psychology, it can relate to the degree of intensity of a feeling or experience.

Brightness

The perception of how luminous or vivid a light source appears to an observer, which can vary greatly under different conditions of illumination and viewing.