makeup assignment econ 344
Make up assignment:
5. Choose three retailers. You believe the first builds customer value through product excellence, the second through operational excellence, and the third through customer excellence. Justify you answer.
6.Visit the website of your bank and try to identify how it uses STP to develop various types of bank accounts (products) and charge different fees (price) for different types of accounts.
5.
Product excellence: Apple IPhone
Steve Jobs unveiled iPhone to the world on January 09, 2007 by defining it as a wide screen iPod Touch featuring functionalities of phone and an Internet communicator named iPhone. Apple IPhone is considered apples most innovate and best selling product according to “the secret to Apple’s success” article they raised a point about Apple’s marketing strategy, “Making markets vs. addressing markets – Some claim that Apple doesn’t ask people what they need but gives them products they decide they want.” In a competitive industry such as the mobile device industry, no consumer would purchase a cellphone unless they perceive its worth as valuable. No body necessarily needs an apple iPhone they have many options however, they want the phone because they value the product. Another marketing strategy worth noting is how Apple markets their products. Apple has demonstrated a cool factor in their product; the Attention they spent on the design and detail distinguishes Apple’s products from other competitors.
Operational excellence: Starbucks
During 1971, a local Coffee shop by the name of “Starbuck’s” Coffee franchise began their operational excellence. This coffee retailer started as a local francizes however, through their excellent dedication and operational excellence they have became a highly recognized coffee retailer we have today. The 21st century is undoubtly an era of boundless opportunities and revolution far beyond any period of human establishment. In order for a business to fully utilize its
5. Choose three retailers. You believe the first builds customer value through product excellence, the second through operational excellence, and the third through customer excellence. Justify you answer.
6.Visit the website of your bank and try to identify how it uses STP to develop various types of bank accounts (products) and charge different fees (price) for different types of accounts.
5.
Product excellence: Apple IPhone
Steve Jobs unveiled iPhone to the world on January 09, 2007 by defining it as a wide screen iPod Touch featuring functionalities of phone and an Internet communicator named iPhone. Apple IPhone is considered apples most innovate and best selling product according to “the secret to Apple’s success” article they raised a point about Apple’s marketing strategy, “Making markets vs. addressing markets – Some claim that Apple doesn’t ask people what they need but gives them products they decide they want.” In a competitive industry such as the mobile device industry, no consumer would purchase a cellphone unless they perceive its worth as valuable. No body necessarily needs an apple iPhone they have many options however, they want the phone because they value the product. Another marketing strategy worth noting is how Apple markets their products. Apple has demonstrated a cool factor in their product; the Attention they spent on the design and detail distinguishes Apple’s products from other competitors.
Operational excellence: Starbucks
During 1971, a local Coffee shop by the name of “Starbuck’s” Coffee franchise began their operational excellence. This coffee retailer started as a local francizes however, through their excellent dedication and operational excellence they have became a highly recognized coffee retailer we have today. The 21st century is undoubtly an era of boundless opportunities and revolution far beyond any period of human establishment. In order for a business to fully utilize its