24. The Law of Quality
The customer demands the very highest quality for the very lowest price.
This seems simple except that many companies try to violate this law on their way to the bankruptcy courts. The customer is very smart. The customer will always act to satisfy the greatest possible number of his or her needs in making any particular buying decision. Only companies that cater to the customer’s relentless insistence on ever-higher levels of quality at ever-lower prices are successful in the marketplace.
In 1989, both the Toyota Lexus and the Nissan Infiniti were introduced into the U.S. market. Both companies advertised these cars as the cars of the future, with the luxury features of the more expensive European cars but at prices ...
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