Journal of Marketing Theory and Practice, vol. 15, no. 3 (summer 2007), pp. 187–203.
© 2007 M.E. Sharpe, Inc. All rights reserved.
ISSN 1069-6679 / 2007 $9.50 + 0.00.
DOI 10.2753/MTP1069-6679150301
A long-standing marketing principle is that understanding
and satisfying customers leads to superior business results.
Two firms illustrate this principle. Whirlpool discovered
certain customers wanted stylish washers and dryers, and
were willing to pay a premium for them. Consequently,
Whirlpool developed a line of high-end designer washers
and dryers. The products were so well received that they
helped generate record revenues for the firm, with customers
placing back orders on sold-out models (BusinessWeek
2004). Similarly, IBM identified a growing demand for
information technology (IT) and support services among
large as well as small businesses. In response, IBM created
and offered a portfolio of complete e-systems solutions.
Not only did the move reduce the......
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