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New Book Offers Help for Growing Profits Using 80/20 Rule(October 31, 2011)
DAYTONA BEACH, FL -- (Marketwire) -- 10/31/11 -- Marketing consultant Betsy Kruger's new book "Top Market Strategy: Applying the 80/20 Rule" (www.BetsyKruger.com) offers businesses a step-by-step guide to increasing profits by applying the universal rule of thumb known as the Pareto principle.
In business, the rule predicts that the top 20 percent of a company's customers will generate 80 percent of its profits. "Top Market Strategy" is a textbook of specific steps a company can take, and how to take those steps, to potentially quadruple profits by identifying and focusing on the top 20 percent of customers.
Using a fictitious company as an example, Kruger's business lessons begin with the fundamentals of marketing and delve deeply into how to conduct effective, cost-efficient customer surveys to identify the business's target market. From those surveys, businesses will have the data necessary for creating research-driven marketing strategies.
"Top Market Strategy" provides the tools necessary to:
- Distinguish your top customers -- Identify ways the top 20 percent of your customers differs from other customers and what characteristics they have in common.
- Promote to top prospects -- Replace your less profitable customers with customers who have characteristics similar to the top 20. Focus resources on marketing to these potential new customers.
- Consolidate resource allocation -- Discontinue allocating resources and promoting to the bottom 80 percent of your customers by automating all interactions with that group.
About Betsy Kruger
Betsy Kruger heads Strategic Power, a marketing consultancy, and is the author of "Top Market Strategy: Applying the 80/20 Rule." She writes articles, motivates groups, leads seminars and consults with clients on how to prosper from the 80/20 rule.
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