In today’s increasingly competitive world, companies must struggle to continually find any means to garner a competitive edge. Such is true for Xerox Corporation. “Xerox Corporation is a $15.7 billion technology and services enterprise that helps businesses deploy smart document management strategies and find better ways to work.” (“About Xerox”, 2004) In the course of this pursuit, and as a strategic plan to improve customer satisfaction, in the late 1980s, Xerox’s top management undertook the challenge of developing a product guarantee. The question became what would this guarantee be comprised of?
Based on brainstorming and exploratory research (…) They decided to examine four types of guarantees: (1) A service guarantee (…); (2) A money-back guarantee (…); (3) A product performance guarantee (…), and (4) A product-fit guarantee. (Author, Year, p. 13)
However, they also failed to explore the possibility of not providing a guarantee at all. In the end, the most effective and efficient of these guarantees is one that combines a combination of the fours types Xerox explored.
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