BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The Pareto Principle in business refers to the way 80 percent of a given business’s profit typically comes from a mere 20 percent of its clientele. Business owners who subscribe to the 80/20 rule know the best way to maximize results is to focus the most marketing effort on that top 20 percent.

Detailed explanation-2: -The 80-20 rule, also known as the Pareto Principle, is a familiar saying that asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive and make them the priority.

Detailed explanation-3: -In marketing, the Pareto principle says that 80 percent of your sales are represented by 20 percent of your customers. If companies break free from this, they will increase profits.

Detailed explanation-4: -What is the 80/20 rule? The 80/20 rule indicates that 80% of social media posts should be useful to your audience-meaning, it educates, entertains, or offers a solution to their problems-and only 20% should explicitly promote your business.