CarMax 2001 Annual Report Download - page 18

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Please find page 18 of the 2001 CarMax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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CarMax further improves the car-buying experi-
ence with easily accessible information on each
used and new vehicle in our inventory. Vehicle
information that includes features, specifica-
tions and the low, no-haggle CarMax price is
available in-store via our automated touch-
screen kiosks and online at CarMax.com. Both
systems provide the comparative Kelley Blue
Book price for used cars and the manufacturer’s
suggested retail price and the dealer invoice for
new cars. Inventory information on the more
than 12,000 vehicles available for sale is updat-
ed daily on CarMax.com and instantaneously on
our in-store system.
Customers visiting our stores are offered sales
assistance when they enter the store, but also
are free to roam the vehicle selections on their
own. Inventory is arranged by vehicle type—
from subcompacts to light trucks and luxury
vehicles—and by make within each type. An easy
way to sort through the vast inventory selection
is via our automated touch-screen terminals.
Using these kiosks inside the store, customers
can search the inventory by price point or
vehicle make and model. After sorting, customers
can see side-by-side comparisons that include
the features, specifications and color photos of
the selected vehicles. Once the customer selects
a vehicle of interest, the system prints an
information sheet with a map showing the
vehicle’s exact location on the CarMax site.
More and more consumers are researching
vehicle purchases on the Web before entering a
store. Early on, CarMax laid the foundation with
information systems that could be naturally
integrated into a Web site, and in 1996, we
launched CarMax.com. CarMax.com allows
consumers to search our entire used- and new-
car inventory, including the prices of all vehicles.
Consumers also can view financing and warranty
information, estimate monthly payments,
approximate trade-in values and compare the
features and specifications of selected vehicles
side-by-side. In fiscal 2001, we introduced a
new site design and added vehicle reviews, the
ability to estimate tax, title and tag fees and a
link offering insurance quotes.
“OUR ADVERTISING AND MARKETING
MESSAGES EXPLAIN IN A STRAIGHT-
FORWARD, ‘NO-GAMES’ MANNER
HOW THE ELEMENTS OF THE
CARMAX OFFER DIFFER FROM THOSE
OF A TRADITIONAL DEALER.”
JOE KUNKEL
SENIOR VICE PRESIDENT
MARKETING AND STRATEGY
“THE SYSTEMS CARMAX CUSTOMERS
SEE, IN OUR STORES AND ON THE
WEB, PROVIDE THE COMPREHENSIVE
INFORMATION THAT DISTINGUISHES
OUR CONSUMER OFFER; THE
OPERATIONAL SYSTEMS THEY DON’T
SEE HELP US SUCCESSFULLY DELIVER
OUR OFFER.”
MIKE DOLAN
SENIOR VICE PRESIDENT AND
CHIEF INFORMATION OFFICER
16
comprehensive
information