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J.D. Power history
J.D. Power company history timeline
J.D. Power was founded in 1968 by James David Power III. Power had previously worked in advertising and doing customer research for the Ford Motor Company, where he felt customer satisfaction data was too often overlooked.
The company incorporated on February 7, 1969.
1972: Early J.D. Power survey results cut short the career of Mazda's Wankel engine.
1973: Power publishes results of national ownership survey that reveals problems with the Mazda rotary engine.
Power’s annual Consumer Satisfaction Index, first published in 1981, measured satisfaction among customers who had owned their cars for one year.
Power initially planned to release his survey results only within the industry, but his business changed radically in 1983, when Subaru ran the first print add mentioning a J.D. Power IQS result, showing Subaru ranked second behind Mercedes-Benz in customer satisfaction.
The 22 percent improvement was the best since the study began in 1987.
Power’s revenues were $7.5 million in 1987, the year in which the agency introduced its Initial Quality Study (IQS), which covered automobile owner experiences during the first 90 days of ownership.
By 1989 the Power agency was sending out four million questionnaires annually to car owners and taking in $12 million.
Acura ranked highest in the 1989 United States Automotive Customer Satisfaction Index (CSI) Study
By 1990 Power was growing at an annual rate of 25 percent, with 100 full-time employees and 150 part-time employees.
More carmakers than ever were citing the results of Power surveys in their 1990 model introduction ads.
In 1991 Power released its first Computer Industry Satisfaction Program study, which measured customer satisfaction with personal computers, in time for the annual spring Comdex show.
Revenues for 1991 reached $18 million.
The agency announced it would release its first consumer satisfaction survey for the airline industry in December 1992.
By 1992 Ford outranked both General Motors and Chrysler in the IQS.
By 1992 Power was producing 12 studies that measured the performance of automakers and their dealers.
Power’s 1992 revenues were expected to reach $22.5 million.
For the first time since its founding, Power began recruiting MB As from college campuses in the spring of 1992.
1993: Power begins developing the Power Information Network to capture daily sales data of automobile dealers.
Power had invested $6 million in the network, which was started in 1993 and already included 1,000 of California’s 3,600 automobile dealers.
In 1995 Power introduced a new survey on credit cards.
Sharfman, Bill. "The Power of Information and Quality." Automobile Magazine, February 1996.
J. David Power unveiled a new daily sales reporting network for automobile dealers at a University of Michigan conference in August 1996.
In 1996 revenues reached $46 million.
In 1996 Power introduced the Residential Local Telephone Service Study to measure customer satisfaction with local telephone service.
The study found an average of 86 problems per hundred vehicles, compared to 110 problems per hundred vehicles in 1996.
1996: Appointed chairman of the board of J.D. Power and Associates.
The company's Initial Quality Study (or IQS), established a number of years ago and released each May, asks new-car purchasers to list defects noted within the first 90 days of purchase. For example, in 1997 the company began offering awards to new-car dealerships, which number over 21,000 across the United States.
By 1997 the Power Information Network was gathering daily sales transaction data from 1,250 California dealerships.
The 1997 survey was based on questionnaires sent to 110,000 randomly selected new car owners.
In 1997 Power introduced its first annual study of the used vehicle market.
“Canada Trust Card Wins Customer Satisfaction Survey,” American Banker, October 20, 1998.
In 1998 Power added dealers in several major markets, resulting in 3,000 dealers providing daily sales information to the network.
In the summer of 1998 Power released the results of its first new home buyers survey.
1998: Announced plans to sell the company.
By 1998 J.D. Power and Associates had offices not only in the United States, but also in such cities as Toronto; Tokyo; London; Seoul, Korea; and Sao Paulo, Brazil.
Agoura Hills, CA: J.D. Power and Associates, 1998.
Files, Jennifer, “Southwest Bell, GTE Rank Below Average in Customer Survey,” Knight-Ridder/Tribune Business News, August 4, 1999.
The 1999 survey revealed that more than one-fourth of used vehicle buyers used the Internet for assistance and information to help with their purchase decision.
As of 1999 Power continued to expand into new industries.
1999: Power completes its first survey of the RV market.
It was evaluating the marine market for possible surveys. It also conducted an annual Cable/Satellite TV Customer Satisfaction Study, and in 1999 the agency introduced a new study of automobile insurance.
In 2016, it was sold again, this time to the private investment group XIO Group for $1.1 billion.
J.D. Power expanded its offerings to sell financial and insurance products through car dealerships in 2017.
Dave Habiger was named its President and CEO in March 2018, with the objective of continuing to aggressively build and enhance the company's data and analytics and customer insights leadership.
"J.D. Power and Associates ." International Directory of Company Histories. . Retrieved June 22, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/jd-power-and-associates
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J.D. Power history FAQs
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J.D. Power may also be known as or be related to J.D. Power, J.D. Power and Associates, J.d. Power, JD Power and Associates Inc and Jd Power And Associates Inc.