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ValueSpace: Winning the Battle for Market Leadership
by Banwari Mittal, Jagdish N. Sheth
In today's hyperkinetic marketplace, businesses must constantly be on the lookout for ways to separate themselves from their competitors. Banwari Mittal and Jagdish N. Sheth believe the best method is delivering superior value to customers, and in ValueSpace, named for the term they coined to describe the total corporate package top companies create to do just that, they outline specific moves that help leading firms earn and maintain their stellar reputations. Mittal and Sheth, business professors and consultants, thoroughly studied 11 superlative businesses before identifying the three components that all rely upon to provide such value: performance (ensuring products and services work as advertised), price (setting fair and reasonable rates), and personalization (making it easy for customers to deal with them). They then show how each of their leading corporations shine in these areas. AutoNation, for example, initiated "no haggle" pricing at dealerships to ease a common anxiety among car buyers; 3M operates rock quarries so only the highest quality minerals are produced for roofing shingles; American Express is available around the clock, every day of the week, to merchants with problems. The authors helpfully conclude with solid suggestions for adapting these ideas and others from their spotlighted companies--which also include Caterpillar, Xerox, UPS, PPG, Hilton, Sysco, Rosenbluth International, and Fossil--into operations where such "valuespace" is lacking. --Howard Rothman
In the tradition of the bestselling The Discipline of Market Leaders, business professors and consultants Banwari Mittal and Jagdish N. Sheth describe a dynamic new value-based approach to achieving market dominance they call
ValueSpace--the space that great companies create to deliver their customers the greatest value. Based on the findings of an in-depth study for the prestigious Marketing Science Institute of the top 10 companies on Fortune's Most Admired Companies list, Mittal and Sheth show that value is the missing link in achieving enduring customer loyalty, and that the three main components of customer value are performance, price, and service.
With the help of fascinating case studies from UPS, 3M, Caterpillar, Xerox, Fossil, and other most admireds, Value Space explains why and how companies in all business sectors that excel at delivering customer value are invariably the market leaders. It outlines a complete program for achieving long-term success by more effectively managing the 9 organizational processes that drive performance, price, and service.