The idea that marketing efforts should be concentrated on few customers and products is best known as:
A) the oligarchy principle.
B) the oligopoly principle.
C) the 80-20 principle.
D) the 20-20 principle.
E) the Westinghouse principle.

Question

Quizplus · Accepted Answer

The concept that 80% of a company's sales come from 20% of its customers or products is known as the 80-20 principle or the Pareto principle. This principle suggests that a company should focus its marketing efforts on the most profitable customers or products, rather than trying to appeal to everyone.

The Idea That Marketing Efforts Should Be Concentrated on Few