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11 September 2020

Principle of the day

Pareto principle (80/20 rule)

The Pareto principle states that a minority of causes often accounts for a majority of effects; in marketing, identify the customers, channels and actions with the greatest impact.

Vilfredo ParetoItalian economist associated with the 80/20 principleSource: Applying the Pareto Principle in Your Marketing—the 80/20 Rule

Quote of the dayuncontested market space

It is about creating and capturing uncontested market space, thereby making the competition irrelevant.

Renée MauborgneAmerican INSEAD strategy professor and co-creator of the blue ocean conceptSource: What Is Blue Ocean Strategy?

Quote of the dayleadership

Patience is a virtue, and I’m learning patience. It’s a tough lesson.

Elon MuskFounder of SpaceX and CEO of TeslaAttributedView profile: Tesla

Principle of the day

Value before promotion

Provide useful information or solve a problem before asking for attention, data or a purchase.

Source: What is Content Marketing?

Quote of the dayservice quality

Quality in a service or product is not what you put into it. It is what the customer gets out of it.

Peter DruckerAustrian-American management thinker and business authorAttributed

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