CHAPTER 3 Seeing Services Through Your Customers' Eyes: Becoming a customer-centered organization
"It was not the fair market value of inventories, receivables, or fixed assets that produced [See's Candies'] premium rates of return, rather it was a combination of intangible assets, particularly a pervasive favorable reputation with consumers based on countless pleasant experiences they have had with both product and personnel. Such a reputation creates a franchise that allows the value of the product to the purchaser, rather than the production cost, to be the major determinant of selling price."
Berkshire Hathaway Annual Report of 1983
"Charlie and I, not fully aware of the value of an economic franchise, looked at See's mere $7 million in ...
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