The Pareto Rule In Marketing Revisited
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The Pareto Rule In Marketing Revisited
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Author : Daniel McCarthy
language : en
Publisher:
Release Date : 2018
The Pareto Rule In Marketing Revisited written by Daniel McCarthy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
In a recent paper, Kim, Singh, and Winer (2017) studied the Pareto rule across 22 different CPG categories. The authors found an average Pareto ratio (PR) of .73, meaning that 73% of sales came from the top 20% of customers. In this paper, we use a unique dataset of 339 publicly-traded non-CPG companies to see whether/when the Kim et.al. result holds. We have additional data on these companies, including whether they are product or service companies, whether they sell to customers on a subscription or non-subscription basis, financial and industry information, and summaries of customer purchase behavior. We find that the overall average PR is .67 with product companies having a ratio of .67, and service companies, .66. We find that non-subscription businesses have a PR of .68, substantially higher than that of subscription businesses at .59. We estimate the correlates of PR by industry and other factors. Preliminary results show much higher PRs for profits than sales.
The Routledge Companion To Strategic Marketing
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Author : Bodo B. Schlegelmilch
language : en
Publisher: Routledge
Release Date : 2020-11-24
The Routledge Companion To Strategic Marketing written by Bodo B. Schlegelmilch and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-24 with Business & Economics categories.
The Routledge Companion to Strategic Marketing offers the latest insights into marketing strategy. Bodo Schlegelmilch and Russ Winer present 29 specially commissioned chapters, which include up-to-date thinking on a diverse range of marketing strategy topics. Readers benefit from the latest strategic insights of leading experts from universities around the world. Contributing authors are from, among others, the U.S. (Berkeley, Cornell, MIT, New York University, Texas A&M), Europe (the Hanken School of Economics, INSEAD, the University of Oxford, the University of Groningen, WU Vienna) and Asia (the Indian School of Business, Tongji University). The topics addressed include economic foundations of marketing strategy, competition in digital marketing strategy (e.g. mobile payment systems and social media strategy), marketing strategy, and corporate social responsibility, as well as perspectives on capturing the impact of marketing strategy. Collectively, this authoritative guide is an accessible tool for researchers, students, and practitioners.
Top Market Strategy
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Author : Elizabeth Rush Kruger
language : en
Publisher:
Release Date : 2011
Top Market Strategy written by Elizabeth Rush Kruger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Customer relations categories.
Virtually every business seeks to increase its profit from customers, but few business executives realize that a universal principle governs their customer profitability. They may be applying the 80/20 rule to sales, quality control, investing, production, or other business functions without realizing that the 80:20 ratio actually summarizes the Pareto distribution of inputs to outputs. According to his equilibrium theory of relationships, stability is reached when inputs in the top 20% generate 80% of the outputs while inputs in the bottom 80% generate 20% of the outputs. Recently mathematicians confirmed that the Pareto distribution is as universal as the normal "bell-shaped" distribution, but is log linear and predicts results, rather than probabilities. Applying this universal principle to customer profitability, a typical business can predict that customers in the top 20% generate 80% of customer profitability (four times more profit than expected), whereas customers in the bottom 80% generate only 20% (one-fourth as much as expected). This means the 20% most profitable customers tend to be 16 times more profitable than the 80% least profitable customers. In order to capitalize on the Pareto principle, a business should 1. segment its customers by their profitability, 2. distinguish the top 20% of its customers in top market segment from the bottom 80% of the customers in the bottom market segment, and 3. target the top market segment with its marketing strategies. The purpose of this book is to show business students and executives how to implement this process and thereby achieve the predicted results.
Keep Your Customers
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Author : Ali Cudby
language : en
Publisher: Morgan James Publishing
Release Date : 2020-01-07
Keep Your Customers written by Ali Cudby and has been published by Morgan James Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-07 with Business & Economics categories.
This fresh take on retention and revenue is “a useful guide to long-term customer loyalty that’s engaging, insightful and actionable . . . a fast, easy read” (Jonathan Tower, Managing Partner, Catapult VC). It costs 5 to 25 times more for companies to acquire a new customer versus retaining an existing one. That means a company’s process to keep its customers is tied directly to its revenue and profitability. In Keep Your Customers, Ali Cudby provides insights from business leaders, beginning with legendary executive Kay Koplovitz. The book goes on to offer real-world consumer behavior stories, business best practices, and CEO-led case studies in industries ranging from technology (ClusterTruck, PERQ), consumer packaged goods (Soapbox), and retail (Esprit de la Femme, Urban Stems). Interviews with renowned venture capitalists Mark Suster and Kara Nortman of Upfront Ventures, Square Capital executive Jackie Reses, and indie musician Craig Wedren, former Shudder to Think frontman and Yellowjackets composer, are also featured. Keep Your Customers is based on a proven process that has helped companies around the world improve the lifetime value of their clients. Keep Your Customers shares a fresh perspective on the old problem of customer relations. It jumps straight into practical strategies and actionable tactics to bring loyalty marketing to life for large and small businesses alike. Ali Cudby shares how to set up customer engagement for loyalty with a company culture to support it; grow without being stuck in the endless grind of new customer acquisition; and build the most powerful asset for any enterprise—a loyal, long-term, and lucrative customer base.
Marketing S 60 20 Pareto Law
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Author : Byron Sharp
language : en
Publisher:
Release Date : 2019
Marketing S 60 20 Pareto Law written by Byron Sharp and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
We confirm our 2007 conclusions concerning the Pareto Law. Our conclusions are now supported by many other data sets, and independent analyses.It's wrong to talk about an 80/20 law in marketing. A brand's heaviest 20% of buyers generally contribute not much more than half of a brand's sales, and these same buyers will contribute less in the following time period. Indeed, even for stable brands half of last year's heavy buyers will then not even qualify to be in the top 20%, while the people who were light or non-brand buyers last year will contribute more to sales this year than they did last year.The exact sales contribution of the top 20% (a brand's Pareto share metric) depends on the time period and some other technical decisions made by the person calculating the metric, and brand size and some category characteristics. But it's reasonable to expect that almost half of your brand's sales will always come from your very lightest 80% of buyers. It is also apparent that growth comes largely from these light, very light/non-brand buyers and so it would be foolhardy to ignore them.
Customer Behaviour In Ecommerce
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Author : Šárka Zapletalová
language : en
Publisher: Springer Nature
Release Date : 2023-02-11
Customer Behaviour In Ecommerce written by Šárka Zapletalová and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-11 with Business & Economics categories.
Online shopping is undergoing significant changes around the globe, evolving in the food and non-food segments alike. Representing a vital distribution channel that reaches countless customers, sales from online shopping have long-since exceeded USD 1000 billion per year and are growing steadily. This book is intended for general readers and professionals interested in companies’ strategic orientation in connection with their online format and building and strengthening customer loyalty. In this regard, their business strategies are not considered in their full scope and complexity; instead, the book focuses more narrowly on the relationship between business strategy, buying behavior and customer loyalty.
The Anatomy Of Buzz
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Author : Emanuel Rosen
language : en
Publisher: Crown Currency
Release Date : 2002-05-14
The Anatomy Of Buzz written by Emanuel Rosen and has been published by Crown Currency this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-05-14 with Business & Economics categories.
A groundbreaking guide to creating the word-of-mouth magic that cuts through the skepticism and information overload of today's consumers, and drives sales-and profits-to new heights. What turns a "sleeper" into a box-office bonanza or catapults a just-released book to the top of bestseller lists? How do people decide which car to buy, which fashions fit the image they seek, and even which movie to see? Despite the daily assault of advertising and other traditional marketing strategies, statistics show that consumers are overwhelmingly persuaded by word of mouth-the recommendations of friends and the "buzz" that develops in the marketplace. As Newsweek recently proclaimed, "Buzz greases the great conveyor belt of culture and commerce, moving everything from movies to fashions of the body and mind faster and faster." In The Anatomy of Buzz, former marketing VP Emanuel Rosen pinpoints the products and services that benefit the most from buzz-a universe that embraces everything from high-tech equipment to books, various consumer and entertainment products to legal and other support services-and offers specific strategies for creating and sustaining effective word-of-mouth campaigns. Drawing from interviews with more than 150 executives, marketing leaders, and researchers who have successfully built buzz for major brands, Rosen describes the ins and outs of attracting the attention of influential first users and "big-mouth" movers and shakers. He also discusses proven techniques for stimulating customer-to-customer selling-including how companies can spread the word to new territories by taking advantage of customer hubs and networks on the Internet and elsewhere. Recent surveys show that 58 percent of young people rely to some extent on others when selecting a car, 53 percent of moviegoers follow the recommendations of friends, and 65 percent of the people who bought a Palm organizer were inspired by the enthusiasm of others. With The Anatomy of Buzz, business leaders have what they need to start the buzz and reignite excitement about a product or service stalled in a holding pattern, or launch a new product into the stratosphere.
Designing Service Excellence
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Author : Brian Hunt
language : en
Publisher: CRC Press
Release Date : 2014-11-13
Designing Service Excellence written by Brian Hunt and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-13 with Business & Economics categories.
The moment of truth—that instant when consumers experience and judge service quality—is often a deciding factor in business success. Designing Service Excellence: People and Technology provides practical information on the design, management, and organization of many different types of service industries, such as hotels, restaurants, banks and financial institutions, retail, and the public sector. The authors investigate the consumers’ experience and judgment on service quality, which ultimately determines the success or failure of the service. They then consider people, usability, and technology in the automation of high-quality service. This research-driven book identifies service—in a variety of forms—as an area of business and management where rapid change is taking place. The authors examine how service has become a balance between people and technology and explore this relationship as one of the key drivers of change. They discuss how social, cultural, and technological developments influence the ways in which customers contact, negotiate, and purchase services from their chosen service providers. These same developments are also driving communications between customers relating to the services they buy and are willing to recommend to others (or otherwise). Intermingled, these features of our current-day lives have changed the nature of service provision and service use. When your organization has its moment of truth, how will it measure up? Organizations whose business has service at its core and whose activities focus mainly on service design, management, and delivery are likely to find increasingly that, for survival, service is a matter of life or death. This book provides a deep understanding of the relationship between people and technology along with an ergonomic approach to the design and management of service delivery that helps you deliver the value and benefits that customers not only want, but increasingly come to expect.
Top Market Strategy
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Author : Elizabeth Rush Kruger
language : en
Publisher: CreateSpace
Release Date : 2010-11
Top Market Strategy written by Elizabeth Rush Kruger and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11 with Business & Economics categories.
Is it possible to increase your profit from customers-even quadruple it-by applying a universal law to marketing strategy? Absolutely! In the direct and practical Top Market Strategy: Target the Best and Ignore the Rest, marketing innovator Dr. Elizabeth Rush Kruger shows why the Pareto rule of 80:20 works in any business and explains exactly how to use this universal law to attract new customers-highly profitable ones-to your business. The logic is simple: replace less profitable customers with more profitable customers, and your business profit will skyrocket. Since customers in the top 20% generate 16 times more profit than other customers, it makes sense to go after prospects just like your top customers, but how? Using Dr. Kruger's strategic analysis called top market strategy, business leaders begin with segmenting customers by their profitability, distinguishing the most profitable market segment from others, and then targeting this top market segment with marketing strategies designed to attract highly profitable new customers to their business. The author devotes a chapter to each phase and her case example demonstrates each step of the top market strategy. Readers benefit from seeing the key strokes used in Microsoft Excel for the strategic analysis of market segments. When fully implemented, the top market strategy emerges as powerfully effective in quadrupling your profit from customers. Until this book, no publication explained how to use the Pareto rule to increase business profit. However, this hands-on tool reveals this new application using a straightforward and reader-friendly approach, one designed as a solid guide to multiply business profit-and to boost your career. Entrepreneurs and business leaders throughout the world-marketers or managers, distributors or retailers, brand managers up to corporate executives-can use this book to quadruple their profit from customers-and will recommend it to their friends and colleagues.
The Data Librarian S Handbook
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Author : Robin Rice
language : en
Publisher: Facet Publishing
Release Date : 2016-12-20
The Data Librarian S Handbook written by Robin Rice and has been published by Facet Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-20 with Language Arts & Disciplines categories.
An insider’s guide to data librarianship packed full of practical examples and advice for any library and information professional learning to deal with data. Interest in data has been growing in recent years. Support for this peculiar class of digital information – its use, preservation and curation, and how to support researchers’ production and consumption of it in ever greater volumes to create new knowledge, is needed more than ever. Many librarians and information professionals are finding their working life is pulling them toward data support or research data management but lack the skills required. The Data Librarian’s Handbook, written by two data librarians with over 30 years’ combined experience, unpicks the everyday role of the data librarian and offers practical guidance on how to collect, curate and crunch data for economic, social and scientific purposes. With contemporary case studies from a range of institutions and disciplines, tips for best practice, study aids and links to key resources, this book is a must-read for all new entrants to the field, library and information students and working professionals. Key topics covered include: • the evolution of data libraries and data archives • handling data compared to other forms of information • managing and curating data to ensure effective use and longevity • how to incorporate data literacy into mainstream library instruction and information literacy training • how to develop an effective institutional research data management (RDM) policy and infrastructure • how to support and review a data management plan (DMP) for a project, a key requirement for most research funders • approaches for developing, managing and promoting data repositories • handling and sharing confidential or sensitive data • supporting open scholarship and open science, ensuring data are discoverable, accessible, intelligible and assessable. This title is for the practising data librarian, possibly new in their post with little experience of providing data support. It is also for managers and policy-makers, public service librarians, research data management coordinators and data support staff. It will also appeal to students and lecturers in iSchools and other library and information degree programmes where academic research support is taught.