MedPage Today July 21, 2020
— New approaches need to recognize patients’ wants and needs
In 1985, the very first Blockbuster store opened in Dallas — a new, modern videotape rental business with an expansive selection of video titles and computerized check-out. It was an immediate success. Demand quickly grew, customers were eager and willing to travel to the Blockbuster store, investors jumped in and three more stores opened after only one year. Blockbuster became the leading video tape rental chain with more than 9,000 stores around the world.
One component of Blockbuster’s financial model was the late fees it charged to customers who did not return a video tape to the store in time. These fees accounted for up to 16% of its revenue....
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