How effective are samsung and apple attracting customers Assignment

How effective are samsung and apple attracting customers - Assignment Example In this age of cutthroat competition, a business greatly relies on its existing customers to sustain and survive. The purpose of a business is to fulfill the demands of consumers and in turn, the customers make it possible for the business houses to achieve its aims and objectives. Customers are therefore adjudged as the most important stakeholders of a business. A business does not operate in the vacuum and therefore it is impossible for an organization to function without having any customer. Hence, it is obvious that customers are the resources upon which the sustainability and success of a firm depend on. A number of scholars have argued that to acquire and maintain a competitive edge over the rivals, organizations should try developing long term relationship with the existing customers. However, the same line it is also imperative that a company should attract new customers to increase the volume of business. Thus, the existing customers are the backbone of a company and the new customers take the company forward and help in achieving new heights (Cherunilam, 2010). Attracting new customers has always been a challenging task for the companies and those succeeded in achieving it have flourished. This piece of study is meant for analysing the significance of customer attraction in the welfare of a firm. In addition, the strategies adopted by firms in achieving high rate of customer attraction will be also evaluated. However, for this study Samsung and Apple have been chosen to analyse the effectiveness of their strategies in attracting new customers. Research Objectives The research objectives are as follows: - To identify the significance of attracting new customers for a business. To assess the effectiveness of Apple and Samsung’s strategy of attracting new consumers. Research Questions On the basis of the objectives of the research, the following are the research questions: - Q1. What is the importance of attracting new customers for a business? Q2 . What is the level of effectiveness of the strategies pursued by Apple and Samsung in attracting new consumers? Limitations of the Study A study is always coupled by certain limitations and it is characterized by the factors that impact a study negatively. The following are the limitations for this study: - The study will involve assessment of Samsung and Apple’s strategy only and hence drawing a generalized picture is not possible. Due to limitation of resources and time, the study will not be able to carry out certain activities that might have increased the overall credibility of the report. CHAPTER II - Literature Review The literature review of a study holds a vital position in a research paper. It encompasses an in-depth discussion of the published information about the topic of concern. In addition, the literature review of the study will also take into consideration the theories stated by the authors previous and an evaluation will be made about its effectiveness in the present context. For example, an author might have portrayed a certain theory which was relevant for that particular era, but the same theory might not be

Research methods Essay Example | Topics and Well Written Essays - 2000 words - 2

Research methods - Essay Example The institutions in turn are supposed to make their operations and services attractive enough for the industry and the customer. The value that is addition done by both operations management and operations strategy happens to be fundamental to any organization. The above mentioned articles have one thing in common; they underline the need for effective management of financial aspects of a business. Providing services or goods are the basic forms of operational activities. All organizations try to provide a combination of products and services, using available sources with them. Opening a bank account, taking a meal in a restaurant, visiting a hospital, buying a pair shoes, insuring a vehicle, a hotel stay etc. are all operations activities and their management is central to the successful provisioning of goods and services. Such value addition helps the banks and financial institutions help in making them friendly institutions to the customer base at large. Marketing consists of the strategies and tactics used to identify, create, and maintain satisfying relationships with customers that result in value for both the customer and the marketer. Relationship management, the very basis of running financial services, asks for earning the loyalty of customer. This in turn calls for keeping the workforce motivated enough, while extending valuable services to the customers. The global economy has made it almost mandatory for retail stores, banks, financial institutions etc. that an effective strategy is adopted for managing the workforce and the diversity at the organisation so that everybody is able to enjoy a better working environment and the customer too feels valued. This helps the company in taking on the competitors with fullest potential. The bank (or any company for that matter) can acquire competitive advantage on its rivals on account of marketing efforts, brand building, value creation, innovation, supply chain management, operatio nal