The law of averages is well-known in the world of sales, particularly with respect to direct marketing, where it is summed up by the catchphrase "more equals more". The law of averages in sales is understood as saying that the more attempts at a sale that are made, the more sales that will actually be made.
What is the law of averages?
The law of averages tells the salesperson that over time, their sales should occur at that average rate of 1 in 10, and more pitches will translate into the proportional number of more sales. The law of averages can sound comforting after an "unlucky" stretch of poor results and can increase confidence in long-term success.
What are the laws of advertising & marketing?
The laws of advertising and marketing encompass major topics like fair trade and honesty in advertising. Businesses are not allowed to say whatever they want to get consumers to buy their products. Certain claims must be proven in order to use them for marketing.
