In todays 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, Xeroxs 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.
