The 80/20 rule is a "Theory of every result."
Daytona Beach, FL (PRWEB) December 09, 2014
"The Theory of Everything" is popular movie about Stephen Hawking's quest to discover the overarching theory of the universe. The film is based on the memoir, "Travelling to Infinity: My Life with Stephen," by Jane Hawking, and is directed by Academy Award winner James Marsh.
"So far, no one has discovered the theory of everything, but the 80/20 rule is the theory of every result," declares Dr. Betsy Kruger, author of "Aesop's Keys to Profitable Marketing."
In 1887, Vilfredo Pareto discovered a universal relationship between inputs and their results. His students summarized this as the 80/20 rule. When Pareto plotted input and their results on graph paper, he saw an upward arching curve, named the Pareto Distribution. But when he plotted the same data on log-log paper, Pareto saw a straight line.
For over a century, scientists have confirmed the 80/20 rule is a universal law of results. If using a large unbiased sample, the 80/20 rule predicts the top 20% of the inputs will produce 80% of the results.
For example, many business leaders realize the top 20% of their customers produced 80% of their profits. Squaring this, some notice that 4% of their customers produced 64% of their profits. But few realize that the top 1% will produce over half of their profits.
Each chapter of "Aesop's Keys to Profitable Marketing" calculates how much arious ways to use the 80/20 rule can increase profits.
#1: The 80/20 rule applies to virtually any type of inputs and results.
#2: A business can magnify its profits by specializing in a rare strength.
#3: Hiring a supplier will more than compensate for a weakness of a business.
#4: The very best customers are amazingly profitable.
#5: Little is lost by discontinuing less profitable products, services, and features.
#6: Price skimming is the most profitable pricing strategy in the long run.
#7: Consistently delighting key customers will build their ongoing loyalty.
#8: Empathetic promotions are more effective than egotistical ones.
#9: Targeting prospects similar to top customers will multiply profits.
#10: A few complainers generate most of the complaints.
#11: Allocating money to top inputs will multiply profits throughout a business.
#12: A business profits by implementing these strategies decisions.
In summary, the 80/20 rule is a theory of every result. "Aesop's Keys to Profitable Marketing" calculates how much any business can profit from using the 80/20 rule for 12 marketing decisions.
Dr. Betsy Kruger writes articles, speaks to groups, and coaches businesses to profit from the 80/20 rule with 12 marketing strategies. For example she will conduct "Spark Your Profit" workshops on 3/20/15 in Orlando; FL, at the National Entrepreneur Center. On a regular basis, "Enterprising Women" publishes her articles and posts. Most of its readers generate at least a million dollars in annual sales. On a regular basis, "Enterprising Women" publishes her articles and posts. Most of its readers generate at least a million dollars in annual sales.
For over 25 years, she conducted marketing research, commercialized her software, and taught business courses. Her academic book, "Top Market Strategy: Applying the 80/20 Rule," enriches graduate marketing courses and attracted 17 radio interviews. Betsy’s bestselling book, “Aesop’s Keys to Profitable Marketing,” enriches businesses and has been widely available since its release on October 25, 2014.