Mp4 - Product Strategy From our survey (see section), we...

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Product Strategy From our survey (see section), we can conclude that our customers want a rental service that is convenient and affordable. Given these customer values, we have built a strong people, process, and physical evidence strategy to add value to our product so that we can execute a profitable service. Fortunately for us, we are our only competitors for the suit rental business in the Ithaca area; our only competition is the possibility for our customer to purchase their own suit. Our goal is to eliminate that possibility by offering a service that will satisfy our customers to the level where suit rental is a preference over purchase. The following strategies will explain how we can gain advantage on being a service more than the product. People Strategy As a service, in order for our future business to produce the highest level of profitability we must focus on not just making our customers satisfied through our product but through our service. We believe that if we can satisfy our employees then our customers will be satisfied, and in turn that satisfaction from our customers will add to our bottom line. That being said, managers must focus not on costs and increasing profits, but in creating a positive corporate culture through creating positive employee and customer relations and allowing for an organizational structure where customers are most important and corporate management put themselves at the bottom. Through performance and non-performance incentives, management will be motivated to creating positive employee and customer relations even away from demand peak periods. Citing a 1995 study by Forte Hotels in London, “Clearly, if staff is happy about what they and the company need to do in order to satisfy customers and are well trained and supported, they will, on average, remain with their employer three to four times longer than employees who feel
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This note was uploaded on 10/09/2009 for the course H ADM 243 taught by Professor Rkwortnik during the Spring '06 term at Cornell University (Engineering School).

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Mp4 - Product Strategy From our survey (see section), we...

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