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Customer Acquisition Report Information - Essay Example

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Name Professor Course Date Introduction Customer acquisition strategy is one of the main plans used by businesspersons to attract and retain customers. It is a strategy that gives a particular business a competitive edge over other rival companies. Quality and price play an important role in the acquisition and retention of customers…
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Customer Acquisition Report Information
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Customer Acquisition Report Information

Some of the main factors under this include product, place price, and promotion. Building a strong brand is vital since it has psychological effect on the customers. The perception of customers towards a particular product dictates the number of sales that one will make. Conducting a marketing research before the introduction of a given product becomes vital. It assists a businessperson in obtaining information about the attitudes of individuals towards a particular product. Through a marketing research, one is able to know the strategy with which to approach the market. The introduction of new products in the market faces a number of challenges. This is due to some internal and external factors, which determine the success or failure of businesses. If the employees for instance do not have skills that ensure proper communication with customers, this may lead to increased losses for the company. Customers are retained by the quality of services they receive from a company. It is imperative to note that marketing also plays an important role in acquitision of customers. It is the process through which a business information the customers about the products. In the following discussion, the introduction of iPhone 5 and acquisition of customers will be dealt with. Brief history of Apple Inc., which produces iPhone Started in 1976, this multinational company is one of the most successful, dealing with the production of operating systems and communication gargets. With its headquarters in California, the company has been able to have about 14 subsidiary companies throughout the world (Duhigg 23). In addition to that, it operates more than 393 stores worldwide to facilitate the sale of its state of art products. Apart from the production of iPhones and operating systems, the company also produces computers, macs, and iPods and currently seeks to introduce smart TVs. The company has been able to create more employment opportunities to the society members. The statistics released in 2012 indicated that the company had 72,800 permanent employees and thousands of others under temporal contract (Duhigg 23). In the same year, the company had total revenue of about $156 billion (Duhigg 24). This was unprecedented and attributed to increased sales of products particularly the iPhone 5, which was introduced in the same year. It is estimated that about 27.4 million handsets of this product were sold in 2012 (Duhigg 24). This was much higher than that of the closest rival Samsung Galaxy S 111 introduced the same time. Despite the success of the Apple Inc. there are various challenges threatening the stability of this business. Competition has been a major concern for the company. Apart from Samsung Company, which has been a major rival in the production of smartphones, others include Nokia, Huawei, and Motorola companies. The goods of these companies are of lower price compared to that of the Apple Inc. Introduction of iPhone 5 in my location It is a state of art smart phone, which runs on Apple operating system. It is a main rival to other smart phones produced by other companies such as Samsung and Huawei. Unlike the previous generations of this product, iPhone 5 is not only lighter but also thinner making it more convenient and portable. This may explains the high number of sales in 2012. Despite this though, the sale of this phone is significantly lower in my location owing to the perception of ... Read More
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