Comment 27458

By A Smith (anonymous) | Posted November 27, 2008 at 01:35:15

Ryan, in the marketplace, making your customers happy and doing it consistently is vital to a strong business.

Therefore, when one company comes up with a cost effective way to increase customer satisfaction, it forces others to match that level of service, or be left behind.

Rather than race to the bottom, businesses are constantly looking for cost effective ways to make their customers experience more enjoyable.

Ray Kroc, the man who built McDonald's Restaurants understood this. He made sure that cleanliness was the cornerstone of every restaurant and to good effect.

The government didn't force McDonald's to be religious in their desire for cleanliness, it came from within. However, by giving customers peace of mind, they developed a reputation as a company that could be relied upon.

Trust, honesty, fairness, are all qualities that come at a price, but ultimately return much more than they cost. Successful businesses understand this and will use it to their advantage.

There is a reason why people trust brand names, such as Duracell, Coke, Holiday Inn, Nike. Each one of these companies offers great products that people can count on, at prices that reflect the value they give to consumers. The customer wins by knowing they will not be screwed over and the business wins because it translates customer loyalty into a healthy profit margin.

Business is not about a race to the bottom any more than having friends is about a race to the bottom. If your analogy was correct, we should all be looking over our shoulder to see when our so called loved ones are going to stab us in the back. The fact that this usually doesn't happen means that we understand the value of reciprocity. If I am nice to you, you will return the favour.

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