Any business entity in the world must use an appropriate customer value strategy in order to be successful in the current competitive market. Customer tastes and preferences are often subject to continuous changes. A company that would like to retain and attract additional customers should be able to change the value of its products according to changing customer tastes and preferences (Adcock, Halborg, and Caroline, 2001).
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Customer value strategy enables business entities to provide products of high value to their customers. In the end, such customers will develop brand loyalty on the products of the organisation. One of the companies that employ appropriate customer value strategies in the world is Apple Company.
Since the company offers high standards and quality goods to its customers, Apple Company has a huge customer base in America and the world. The essentiality of this paper is to provide customer value strategy value analysis of Apple Company and offer recommendations on how the company can improve on its current customer value strategy.
Customer value strategy analysis of Apple Company
Currently, Apple Company is under the management of highly skilled board of directors. Apple Company offers a range of products to its consumers including computers, Itunes, iPads, Iphones, and Ipods among other electronic products. The company’s sales revenue in the year 2011 was over $5.30 billion. Currently, the average growth rate of Apple Company’s sales stands at 3% of the previous year’s sales revenue.
The main information in the vision of Apple Company includes the fact that the company dedicates itself in activities that help in strengthening and promoting the value of its brands. The company is continuously improving on the quality and value of its products.
Apple Company also strives to create strong awareness of its brands in its existing and new markets (Dediu, 2013). It aims at promoting consumer confidence in its brands in order to facilitate repeated purchases both in new and existing markets.
According to the former CEO of Apple Company (Steve Jobs), the company achieves its objectives and goals by exercising and giving attention to efficient product development programs, employing innovative marketing techniques, and employing modern manufacturing strategies (Dediu, 2013).
Market survey rates Apple Company as one of the companies that always efficiently understands and acts on the needs of their customers. In most cases, innovations launched by the Apple Company aims at addressing one or more issues that affect the consumers of their products. The company designs its products in simple, attractive, and easy to use manner compared to the products of their competitors.
Apple Company’s product development involves the usage of a variety of branded partners. Apple company uses different partners to enable it give quality products to its customers. For instance, Apple Company often partners with different companies including Microsoft, ATI, and Intel to it give both software and hardware solutions to its electronic products.
Apple Company also segments its markets according to the purchasing power of its customers. Consequently, the company offers a variety of differentiated products for a particular brand that are differentiated by storage capacity in order to suit needs and purchase power of different classes of their customers (Dediu, 2013).
How Apple Company can improve on its current customer value strategy
The company should continue improving on their product’s value and quality. It will increase the competitiveness of Apple Company in the mature and competitive electronics market. Apple Company should avail quality products to its customers at relatively cheaper prices. The culture of the Apple Company involves engaging in activities that aid in the provision quality services and products to customers.
The management of Apple bar should consider using the principle of total quality management to reduce the operational costs and increase the provision of quality products and services as they seek to offer quality goods to customers at affordable prices.
To reduce operational costs, Apple Company should purchase quality supplies in bulk at reduced prices (Chekitan and Schultz, 2005). In the end, they will incur reduced marginal costs per product. Consequently, Apple Company will be able to sell such products at cheaper prices as compared to their competitors.
Apple Company should maintain a quality service delivery system to place them ahead of their competitors. As a customer value strategy, the management of Apple Company should only employ qualified, skilled, and experienced employees to facilitate efficient service delivery. The employees should be empathetic to the customers they interact with in their daily activities.
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The management should only hire employees obsessed with customer satisfaction. The management should always involve their staff in employee training to in order to improve on their service delivery. Finally, the company should beware of the increasing technology.
As a result, they should invest a lot in increasing technology to improve on the quality of their products, operational, and marketing strategies (Chekitan and Schultz, 2005).
The value and quality of a product influence people to buy a certain product as opposed to the other. Products with high-quality standards and value have high market demands. Consumers like quality things that are safe to consume. Every business entity must develop an appropriate customer value strategy to enable them prosper in the current competitive market.
Apple Company is one of the many existing companies that enjoy the fruits of developing appropriate customer value strategy. The company needs to adjust a little bit on its customer value strategy as highlighted above in order to be the most valuable business entity in the world.
Adcock, D., Halborg, A., and Caroline R. (2001). Marketing: principles and practice (4th ed.). London, UK: McGraw-Hill Book Company.
Chekitan S. and Schultz, D. (2005). Customer-focused approach that can bring the current Marketing mix into the 21st Century. Marketing Management 14(1), 14-34.
Dediu, H. (2013). A closer look at Apple’s competition. Web. Retrieved