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Why the Pareto principle, aka the 80/20 rule, is so important in marketing

Anyone who is in marketing has heard of the Pareto principle, better known as the 80/20 rule, at least once. In the late 1800s, following empirical observations supported by statistical evidence, the Italian economist and sociologist asserted that 80% of overall results come from 20% of all causes. In time, this principle has found several applications in various fields, especially in economics. We believe that the 80/20 rule is particularly useful in marketing as it helps us identify real growth strategies and is a valuable tool to guide our actions. How can such a simple and outdated rule still be so effective and relevant? Let’s find out together.

Multi-stakeholder negotiation: when the salesperson has to multitask

When a bride-to-be goes through the “ritual” of choosing her wedding dress, her mother, mother-in-law, the bride’s best friend, the father (who is usually expected to pay for the dress) and other guests such as her grandmother, a wise aunt and so on are usually all present. How will our salesperson have to behave to convince the entire “purchasing team”?

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