The 80/20 Rule Suggests That Business Owners

question 80

Multiple Choice

The 80/20 rule suggests that business owners:

• A)try to exercise control 80% of the time over 20% of their inventory.
• B)identify those inventory items that represent the greatest value to the business and focus inventory control efforts on them.
• C)focus on the 80% of their inventory that only produces 20% of their results in order to improve performance.
• D)try to earn 20% more out of the 80% of their inventory that isn't producing.

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Definitions:

Brand Mascot

A character created to represent a brand, aimed at building recognition and affection with consumers.

Spokesperson

Spokesperson is an individual authorized to speak on behalf of an organization, company, or another entity, representing and conveying its viewpoints to the public.

Brand Actor

A brand actor represents an individual or entity acting as a spokesperson or image of a brand, contributing to its personality and public perception.

Brand Representative

An individual who promotes and represents a brand, its products, and values, acting as a persona that embodies the corporate identity to the public.