Problem Solution: Remington Peckinpaw Davis Inc. Remington Peckinpaw Davis began more than 35 years ago as a trading firm. RPD has since been a Wall Street force to be reckoned with. The company was founded by legendary Wall Street buccaneer Sam Remington, who was instrumental in shaping the stock market as it exists today. RPD was successful by targeting the 2% of American families who hold 80% of the country’s assets. This strategy that served the company well through the early 1990s was not faring so well by the mid-1990s. A new layer of wealth was created which in turn created new target audience for RPD and for their competitors. In 2005, RPD developed their first attempt at an online trading site called eRPD. The site has had …show more content…
They will earn their customers business through hard work, integrity, and new incentives for customers. Identify the Alternatives and Benchmarking Validation Remington Peckinpaw Davis needs to identify alternative solutions to the problems that they are facing. To do this, it should consider best and worst practices of benchmarked companies such as Microsoft, Universal, Chrysler, Eddie Bauer, and TD Ameritrade. One situation that is similar to RPD is Chrysler, In recent years Chrysler succumbed to the bad reputation that many of the car companies have had to deal with. With their reputation at risk, Chrysler needed to make a decision to accept the bail out money- they did in 2009. Nevertheless, the decision to accept the bail out money was the symptom not the cause. Digging much deeper into the situation of Chrysler is can be seen that they too struggled with poor management decision, poor public reputation and malfunctioning systems. For RPD Chrysler can be a benchmark company to take notes. Although Chrysler did accept the bail out money they have managed to adjust their strategy and become one of the highest companies with third and fourth quarter gains (Branford, 2010). The proof for RPD can be seen in Chrysler's findings through their own success. Although Chrysler is not completely recovered from their experience, they are making progress. While RPD does not have an
allowing us to win new customers in the region. We look forward to a strong relationship
with their return on investment, employees are paid and treated fairly, and customers are satisfied with the
Establishments can try to deliver a competitive advantage by ensuring quality service and reducing customer wait time.
The convenience that this division offer customers should give the organization a profitable and popularity boost, allow them to expand globally, and make the company a leader in innovation in its industry.
quality products and services is also what makes customers want to come back to an organization.
show our customers the care of our business but promote our business in a positive way.
Gather information about its potential and current customers, this helps to understand the customer, improve their services and make more informed decisions hence reducing risk.
* Offer great customer service experience at great value, which will essentially attract more customers and help build on their goals of 2016
We strive to develop strategies, business models, and dynamics to drive premier value-added services through means of integrity, respect, passion, persistence, and customer focus.
business purpose. All-in-all their promise is to have the best quality in customer service with a
1. Hire great people, treat them like family - when you treat them right, then they will treat the customers right.
They are able to buy product and services in a low price and at the same time the quality of the product and services are also good. In this way, the customers are able to save money.
Customer loyalty is much harder to obtain that customer service satisfaction. The most important first step is to satisfy the customer by meeting their expectations. Customers only give a company one chance and if they aren’t satisfied they will not do business with that company again, as well as tell others of their experience. The next step would be to exceed the customer’s expectations. If a business goes above and beyond to assist the customer they begin to build loyalty. The next step is to truly surprise the customer. In order to dominate the marketplace the company must find a way to make them selves stand out with their product or service, accompanied with phenomenal customer service. Once this has been done customer satisfaction and loyalty will be gained. “Acquiring a new customer can cost four or five times more than keeping a current customer” (Bestmark, 2013). So it’s essential to keep the current customer’s happy and coming back for more.
This has resulted in good customer retention and repeats businesses for the company across various lines of businesses.
This will help the company to deliver product and services that satisfy customers, hence increasing profitability.