Case Study : Executive Leasing Company

899 Words Sep 19th, 2015 4 Pages
In the beginning, Executive Leasing focused on long-term leasing but in the early 1960’s the market was flooded with established companies such as Hertz and Avis who operated out of airports and Executive could not compete. The cutthroat competition lead Executive Leasing to find another niche away from the airport where customers could get a car for just a day or two and insurance adjustor could rent cars for clients whose cars were stolen or damaged in accidents. As a result, the rental car division launched in 1963 as a home-city rental company put a fresh twist on the market, differentiating itself from Hertz and Avis, offering rates that were more competitive. In the untapped market, this was a very innovative, productive, and economic adventure for Executive, which paid off earning them prime position in the neighborhood rental industry.
As the company branched out and expanded to different states a name change occurred because the Executive name was not available in several markets, so Jack changed the name in 1969 to Enterprise Leasing Company, in honor of the U.S.S. Enterprise aircraft carrier upon which he served. The energy crises of the 1970’s hindered Enterprise Leasing Company’s expansion but accelerated growth occurred in the 1980’s even though Hertz and National entered the home-city market. A key ingredient to Enterprises success during this time was the innovative “Customer Giveaway Accounts,” which allowed any Enterprise employee to charge off items…
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