Page 42 - TX_Marketing 2_M1_v2

A pie chart is a circular illustration sectioned off in relation to the parts of some whole

in an attempt to show the relationship of data, which is usually represented as a
percentage. For example, as illustrated above we could construct a "pie" and then

section off pieces of it to illustrate people's favorite colors. The chart above indicates

that:
20 percent of people favor blue

40 percent of people favor red

10 percent of people favor yellow
20 percent of people favor turquoise

Quick Tip: When utilizing pie charts in the real world, you will want to specify the
conditions of the data. So, if you were really presenting the pie chart previously listed,

then you would want to say to what "people" refers — that is, "everyone" that lives

on a particular block, "everyone" that works at a particular company, "everyone" that
exists in the world, etc. Along the same line, you would want to point out if the

preferences listed are out of "all colors" or if these percentages were true when you

polled people about their preferences in the case of red, yellow, blue, and turquoise.

Pie charts are great for representing data that inherently carries a "whole." Or, one

could say that pie charts are great for representing information pertaining to one,
individual "body." For example, the chart we just examined documented "people's"

favorite color—regardless of to what "people" really refers. If there are different data
sets, then it gets a little more complicated and a single pie chart will prove

inadequate. Consider the following example.

You want to display the color preferences of "everyone" in three different companies

while differentiating between the companies' percentages. Consequently, you will

need to construct three individual pie charts for each company and then display each
one.

TX Marketing II: Negotiation Techniques 41