Attracting new customers is a vital task for an organization. The process of attracting new customers is complex and at the same time also consumes huge amount of resources. In this study, the effectiveness of Samsung and Apple’s customer attracting strategy has been evaluated. …
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 ...
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