The 80/20 Rule and Cannabis marketing 101.
In graduate school, one of the first things I learned was the 80/20 Rule. It is a common rule of thumb in business; e.g., "80% of your sales come from 20% of your clients."
This rule as it applies to healthcare translates into 80% of patients getting well regardless of what you do. 10% percent of patients will respond moderately well, and the top 10% of patients will not respond at all. My Ancestors the Choctaw Shaman waved bones and other items over their patients, 80% responded well and went back on the battlefield.
This rule resonates in almost every avenue of your life and drives our marketing strategies today. When all things are equal:
· We target the largest group and sell the most products to the most people, the 80%. Pricing is based on volume, and these groups of people usually have more time than money and prefer an inexpensive product.