Top performing auto dealerships are three times more profitable than the average. This comes from a McKinsey Quarterly report (June, 2007). Three times more profitable!
I believe there is an important lesson here for business in other industries.
Here are the key factors that differentiated the Top from the Average:
Employees - Top performing dealerships put more energy […]
Apple Inc. sold more iPhones in its first 3 days than the first month of sales of Motorola Razr phones. How? Motorola spent a lot of money on traditional marketing and advertising. But Apple leveraged word-of-mouth and the power of networked communities of interest to create customer based buzz.
One week after the iPhone hit the […]
Apple Inc. sold more iPhones in its first 3 days than the first month of sales of Motorola Razr phones.
Apple did very little advertising and promotion in the traditional media. One guy (Steve Jobs) talked about it in January and let the world know it would be available in June. The word-of-mouth by Apple product […]
Keeping operational cost down is an essential part of staying profitable. However, there is a paradox in play. Streamlining operations can undermine the customer experience, reduce the value customers see in your offering and miss out on an opportunity to increase customer loyalty.
When the Atkin’s and South Beach diets encourage people to reduce there intake […]
