Not only does Apple make people want to stay, but they are giving people the capability of having a taste of newer phone without going out and buying the new phone. Which is a great marketing skill! Apple’s stakeholders would be the customers/consumers, Apple’s employees, investors and Suppliers and Distributors. Stakeholders are vital to Apple because they demand products in various aspects of business. In Apple’s case, stakeholders significantly affect the business in terms of customer perception and sales revenues.
A company with high brand equity such as Apple should be careful in dealing with shortcuts and taking a risk at its reputation. Loyal customers do not only expect good quality products from Apple, but they would also like it if Apple performs corporate social responsibility. If the exploitation of workers continues, this could really hurt the brand image and reputation of Apple. Apple has already succeeded in creating high brand equity and brand awareness, but every company is always finding ways to improve. In terms of customer relationship, Apple has also excelled in it since all of the employees are extremely generous and friendly.
Due to Wal-Mart’s superior ability to order inventory on demand, they are in a position to also meet customer demand better than their competitors. This is especially true with fad products, because they are only popular for a limited amount of time when they become unpopular they can leave massive amounts of inventory that nobody wants to purchase. Due to Wal-Mart’s superior supply chain and their technology they are better able to avoid carrying an oversupply of fad items, and regular items as well.
An advantage of this is that by selling the existing products to the existing market it will speed up the growth of business because people will continuously buy them. A disadvantage of market penetration is the price-conscious customer may only make purchases based on how much the product costs while placing less emphasis on quality or brand recognition. These consumers generally are not loyal to a product or brand unless it continuously offers the lowest
Therefore high brand loyalty in the expansion of sale’s channels more smoothly, and easier access to more favorable terms of trade. Fourthly, brand loyalty will reduce competitive pressure. Recently, market competition is becoming brand competition. When faced with the same competition, the brand that has high brand loyalty, their consumer change the brand’s speed is slow, so the companies have more time to develop new products, and improve communication strategies to deal with the competition of other
Nonverbal communication could be time-saving for sales staff and sometimes proves to be much more effective than solely verbal communication. When selling to customers, the non-verbal communication skills - such as active listening and interpreting non-verbal cues - are just as important as what it has been said. These skills could help us understand what our customers really desire, so that we can offer them the most suitable products and services. 1.1 Listening skills Listening to our customers to discover their needs helps us recommending the right products or services that could meet their needs and seal a successful deal. Salesperson should proactively seek to confirm what customers said is the same as what they understood so both parties are on the same page.
Some decisions that corporations make often make people feel inadvertently discriminated against. However, the intentions they have are to attract more customers. Companies should be able use the most efficient methods. Cohen completely agrees with these methods because they are active in today’s markets. Advertising is ubiquitous and pervasive, and is the easiest and fairly efficient way of attracting customers.
This is a very effective element for Customer satisfaction. The more profitable firms are those that are able to maintain their most valued customers throughout time. To satisfy a customer means to make him faithful and customer satisfaction becomes the index that measures the ability of the firm to produce income for the future. The virtuous circle of customer satisfaction : What is quality? We commonly view quality as a physical property of our product and therefore see our task as producing a product that meets these physical characteristics.
Cost plus pricing Pricing methods which are based on the cost structure of Cadbury that are favoured by accountants because they are supposedly more accurate and reliable. Cadbury is trying to maximise it profits. This method works successfully because all costs need to be accurately accounted. In many firms this is a very difficult process which is why the simpler mark-up procedure is used. Cost plus pricing tends to ignore the demand for the product and the competition.
This tendency motivates the customers to shop more straightforwardly, spend more money, and helping consumers to have a positive review about the organization thus increasing the organization competitiveness Loyal customers can act as key ambassadors for a particular brand or organization in the sense that they are more likely to recommend or purchase a product themselves. They often associate themselves to the organization in believing in their products and the superiority of their products. It is usually seen that loyal consumers are often willingly buying any products that their preferred organisations release. This proves that loyal consumers provide a key security for organisations as they know that their loyal consumers will stand by