READY FOR A TIME GUARANTEE?

Marketing Myopia—misperceiving markets—is a well‐known marketing management problem, and most marketing executives are alert to it. However, the problem seems now to be reasserting itself concerning the guarantees that are offered with products or services. This is the conclusion of one hypothetical consumer, Jim Reed, a marketing executive, as he reports on the time it took to get a new suit properly altered. Jim's story ends as he was walking out of the store, and the store manager was apologizing for the difficulties. “We are sorry that it took four fittings, but we have been having trouble in our alterations room—our head tailor has been going through a divorce. The next time you come in, I am sure that we will have the tailoring right on the first try. We always give our customers what they want, no matter how difficult the request.” Jim just muttered, “But you have stolen my time!” The comment meant nothing to the perplexed manager. However, Jim was angered over the loss of the business and personal time involved with the additional fittings.