If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.
We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn't be in this business.
There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.
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On making money in the long-term:
“You
can do the math 15 different ways, and every time the math tells you
that you shouldn’t lower prices because you’re going to make less money.
That’s undoubtedly true in the current quarter, in the current year.
But
it’s probably not true over a 10-year period, when the benefit is going
to increase the frequency with which your customers shop with you, the
fraction of their purchases they do with you as opposed to other places.
Their overall satisfaction is going to go up.”
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