How Apple Add's Value To Its Stakeholders

4931 words - 20 pages

“Apple designs Macs, the best personal computers in the world, along with OS X, I Life, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.” (Apple, 2014)
“Apple designs Macs, the best personal computers in the world, along with OS X, I Life, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile ...view middle of the document...

Forbes, (2014) suggests that Apple is the world’s most valuable Company with a value of $124.2 billion, reflecting Apple’s strong performance within today’s market. Apple is a US multinational corporation that designs, develops and sells consumer electronics, computer software and online services. Furthermore (Marketline, 2014) state that Apple recorded revenues of $183 million during the financial year ended September 2014 (FY2014). However a more in-depth analysis of Apple’s company and environment can be found in appendix one.
Identified by (Bhardwaj, 2007) “marketers in today’s markets are faced with finding new ways of increasing customer loyalty and retention. Transforming indifferent customers into loyal ones and establishing a long term relationship with customers is critical for organizational success”. It could be argued, in the dynamic, globalised, connected world of the 21st century finding and retaining customers is key in becoming successful. However many factors will affect the relationships Apple has with its customers. With a market share of 41.4% the theorist such (Bajarin, 2012)asks why Apple is so successful. Whilst Apple’s customer service and stores represent the gold standard for selling, the reasons why Apple are so successful is a ‘mystery to many’. He goes on to suggest elements such as the useable friendly products, great customer experience, great customer service or even the ability to touch the products. These are all methods of creating added value to generate customer loyalty.
(Ribeiro, et al., 2014) defines added value as “Products and price based transactions become supplemented with services and add-on facilities which gradually serve to create relationship which becomes of value to the buyer”. It could be argued that Ribeiro et al uses two of Kotler’s four Ps in Products and Price ignoring Place and Promotion. However with Apple it could be argued that price doesn’t have a place in Apples added value as they set fixed prices offering no deals or room to negotiate.
(Fahy & Jobber, 2012) States that adding value to Apples customers can improve their customer loyalty and firm performance through the relational bonds they create through their relationship marketing. Today, such bonds with customers can affect Apple by a domino effect through creating loyal customer base, in turn can be a form of advertising through word of mouth. Theorist from (Arnett & Badrinarayanan, 2005) and (Dwyer & Sivadas , 2000) suggest numerous factors that influence relationship marketing success, three factors consistently identified as important are trust, relationship and communication.
Trust and commitment theory
Trust and commitment theory identified by Dwyer etc, is believed to be a fundamental aspect to relationship marketing, as “relationship marketing involves creating links with customers by meeting their necessities and honouring commitments. Rather than chasing short-term profits, businesses following...

Other Essays Like How Apple Add's Value to Its Stakeholders

Internal Rate Of Return (IRR) And Net Present Value (NPV) Are Both Powerful Tools Used In Business To Determine Whether Or Not To Invest In A Particular Project; Both Methods Have Its Pros And Cons

914 words - 4 pages Internal Rate of Return (IRR) and Net Present Value (NPV) are both powerful tools used in business to determine whether or not to invest in a particular project; both methods have its pros and cons. If given a choice I would choose NPV, because of the potential to anticipate profitability.As it is assumed that the objective of a firm is to create as much shareholder wealth as possible for its owners through the efficient use of resources, the

Consider How the Doctrine of Binding Precedent Operates in the English Courts, Having Particular Regard to Its Advantages and Disadvantages

3322 words - 14 pages (Radcliffe 1968, as cited in Zander 2004): "… there was never a more sterile controversy than that upon the question whether a judge makes law. Of course he does. How can he help it?" The reality is that judges are continually applying the existing rules to new fact situations and thus creating new laws. The decision of the judge falls into two categories; Ratio Decidendi (Elliot and Quinn 2009) and Obiter Dicta (Elliot and Quinn 2009). Ratio

What Is the Mass Balance of a Glacier, How Is It Measured and What Is Its Relationship to Climate

1423 words - 6 pages Ice sheets, ice caps and valley glaciers compose the main elements of glacial environments. Many different processes deriving from their movement, as well as marine aeolian and fluvial influences, affect these environments putting them amongst the most complex present on Earth today. Vital to the health of a glacier is its mass balance. Mass balance comprises of accumulation; all processes that add mass to a glacier, minus ablation; all

What Were the Sources from Which the Early Church Drew Its Impulse Towards Mission, and How Did They Structure Their Identity and Communities to Impact the World with the Gospel

1500 words - 6 pages Final Essay HIST103 Assignments 2000 Word Essay (Summative) “What were the sources from which the early Church drew its impulse towards mission, and how did they structure their identity and communities to impact the world with the Gospel? In this essay I am going to discuss the motivating factors and forces that activated the passion and desire of the early church Christians. The sources I will dwell on are Scripture and religious

Apple Plc

5005 words - 21 pages of rivalry among existing competitors. The supplier power comes from the Apple Corporation and the buyer power comes from the Apple user. The threat of substitutes comes from the fact the product prices are higher than its competitors and it also has a closed ecosystem which means it is hard to switch. Barrier to entry show the capital requirements, the level of competition along with the brand identity. The internal factors hold how the Apple

Corporate Responsibility

1751 words - 8 pages of employment and English, at all facilities that manufacture Apple’s products; something similar to Wal-Mart’s practice. “The supplier Responsibility Report of 2012 states that suppliers are obliged to return underage workers to school and finance their education through Apple’s Child Labor Remediation Program” (Torres, C.A., Nguyen, Kim, 2012). Apple should also work with stakeholders respond to business needs, deliver value, and help business

Bank of America

875 words - 4 pages and network services. In order to make a sound decision regarding this investment, a SWOT analysis will be conducted to understand the organization’s strengths and weaknesses, and the opportunities and threats it faces. In addition, Apples’ stakeholders will be identified along with an assessment of their needs and wants, and whether they are being addressed. Potential Internal Strengths Apple is masterful at infusing its brand image

Apple Inc Marketing Strategies

833 words - 4 pages uses scarcity as its marketing strategy (Katie, 2013). The company stocks a limited number of their products. Due to the limited availability of the products, people perceive their products as high quality and of great value (McCormack, 2016). This creates very long queues which helps publicize their products and increase demand. Apple has also come up with Apple Genius. These are employees trained and certified to provide technical assistance to

Csr in Apple Inc

3900 words - 16 pages stakeholder approach, since it took not only the demand of the shareholders but also the demands of employees, customers, and the global communities. In this part, a summary would be put on how it keeps the promises. Firstly, Apple satisfies the demand of shareholders by increasing share price and profits. In 1997, Apple’s share price was $3.30 while in 2013 its share price had risen to $417.20. (Morningstar, 2013) For the past four years, Apple has

Business Analysis Part I

1829 words - 8 pages settle it will cost the company massive amounts of money. Anytime money is lost, there is an immediate concern for investors (Yang, 2011). Apple, as with any company, must also keep in mind the responsibility to its stakeholders. For Apple, the stakeholders consist of customers, employees, suppliers, and investors. The investors are easy to satisfy. Investors are content as long as profits are maintained and there is a good profit margin. Investors

Individual Business Analysis Part Ii- Apple Inc

2622 words - 11 pages analysis of Apple Inc. goes further to explore the company's financial state, to include, Apple's income statement, balance sheet and statement of cash flows. Upon reflection of what Apple's financial information reveals, the company will then be compared to two of its competitors, Dell Incorporated and Microsoft Corporation. Prior to summarizing Apple Inc.'s financial health and how it compares to its competition, concerns, and the reasons

Related Papers

How To Bring Apple Back To The Top

1931 words - 8 pages should illustrate the importance of responding to the new threat. The senior management of Apple needs to understand what it is consumers want and how to deliver it to them in a manner which will allow Apple to regain its leadership position. They need to consider the variables that will bring customers back to the iPhone; one of the largest variables is the current economy. Apple has begun to make changes with production by inviting the FLA to

Apple Is Moving Some Of Its Production Facilities Back To U.S Why?

613 words - 3 pages Apple is moving some of its production facilities back to U.S Why? Apple CEO Tim Cook said in recent interviews confirmed by CNN that his company, which currently does most of its production in China, would invest $100 million to bring some of its Macintosh manufacturing back to the U.S. next year. Apple's move isn't surprising. It follows a continuing pattern of American companies bringing manufacturing back home due to rising labor, supply

How Is China’s Exchange Rate Policy Linked To Its Development Strategy?

765 words - 4 pages 2. How is China’s exchange rate policy linked to its development strategy? How would changes in exchange rate policy impact growth in China as well as the rest of the world? Is the current exchange rate policy sustainable in the long run? China’s exchange rate policy is linked to its development strategy as China’s gradual transition from a centrally planned economy to a “socialist market economy” was accompanied with major changes in the

In ‘Kubla Khan’ How Does Coleridge Use Language To Bring His Vision Of The River And Its Environs To Life?

1023 words - 5 pages In ‘Kubla Khan’ how does Coleridge use language to bring his vision of the river and its environs to life? Coleridge uses language in his poem ‘Kubla Khan’ as an aid to the reader, to help them understand the vision he saw in a dream he claims to have experienced while under the influence of Opium. Although, some people now believe that he lied by saying this. He probably just wrote it because he felt like it and disguised it in