Apple Case Study

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Recommended: Factors influencing customer loyalty

Report How does the knowledge of main inclinations and traits of human behavior (studied by Behavioral Economics) can help the businesses to increase their sales though the extension of customer loyalty? An empirical study of difference in attitudes towards Apple products in Ukrainian, Russian and Polish markets Introduction. Customer loyalty is basically defined as a deep held commitment to re-buy or re-patronize a chosen product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts having the potential to cause switching behavior (Oliver, 1997). It is a main driver for customer retention, which, in its turn, represents a basic force that accumulates a customer base for the company. As the experience suggests, the presence of the customer base is a valuable asset, because a lot of statistical data and marketing researches have proved that it is harder and much more expensive to acquire a new customer rather than retain an existing one. In this aspect, any business without a focus on customer retention is left on market’s mercy: any market movements will affect the sales in a more intense manner. There is also a risk that your competitor may eventually satisfy the existing customer’s needs and take away a part of your market niche. Moreover, customer loyalty gives a sort of discretion to the company’s R&D policy and marketing strategy: you can try to introduce different features to your products, experiment with different types of ads, and no matter what the results would be, — the customers will stay stick to your production line. Of course, an organization does not have an absolute control over the loyalty of its customers, bec... ... middle of paper ... ...should focus its advertisement on quality, convenience, comfort, new features and applications, meanwhile in Russia Apple should concentrate its advertisement on style, prestige and reputation. Moreover, Apple shouldn’t release slightly modified products every year. The results in this section showed that from 38% till 64% of Apple users think that Apple should maintain longer periods between introductions of new products. The solution to this problem could be a release of new software that will improve already existing products and by this means widen the periods of new products launch at least for six months. All the above mentioned set of behavioral economic biases and heuristics which help to employ the customer’s loyalty should also be taken into consideration and enacted by Apple if it wants to maintain a further growth in customer’s retention indicator.

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