“Gaining a Competitive Edge”

Gaining an upper hand on your competition may not be as hard as you think. The solution could be right under your nose.

Just ask Steve Rondel, president of Advanced Products Technologies. His pondering led him to the mail room, where he noticed that very few of the company’s travel products were being returned. That virtual light bulb went on. Rondel could differentiate his company by offering a five-year warranty — given the minimal returns, he ought to come out on top.

Rondel was right. The warranty made Advanced Products Technologies stand apart from its competition, and it aided the company in convincing consumers that its products are worth the price.

Source: Inc. Online, Goldhirsh Group Inc., 1999.