Apple Inc. has been effective in using the customer feedback loop to improve its products and services. In marketing, the company has actively engaged its stakeholders and customers to assess how they perceive their products, understand the changing customer trends, and buying behavior. In quantitative measurements, the company has strived to understand the number of people willing to pay a premium price for its products and the approximate amount customers willing to upgrade to the latest devices. The numerical data helps the company paint a picture of where it stands in the marketplace and develop strategies to increase its customer base (Belk, 2013). On qualitative measurements, Apple Inc. strives to understand how customers perceive their products, their overall customer experience, and their willingness to recommend Apple products to other people.
In recent years, Apple Inc. has invested heavily in customer experience and satisfaction by implementing feedback surveys. The company has significantly benefited through these surveys by gathering customer insights on its products. When a customer purchases a product from the company, a feedback survey is quickly sent to the customer to rate their experience and satisfaction. As such, the company receives an accurate response from the customer (Newman, 2016). Moreover, the surveys seek more information from the customers on whether they can recommend the product to another person or are willing to purchase other products from the company in the near future.
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Arguably, Apple's prowess in this competitive era has been enhanced by its efforts in understanding and retaining the large customer base. Through analyzing the steps critical to the feedback loop, they have formulated strategies that foster competitive advantage (Mullins et al., 2005). More so, they understand that customer satisfaction and experience drive success, and as such, they have ensured that they use their responses to generate more satisfaction and attract more potential customers.
References
Belk, R. W. (2013). Qualitative versus Quantitative Research in Marketing. Revista de Negócios , 18 (1), 5–9. https://doi-org.ezproxy.snhu.edu/10.7867/1980-4431.2013v18n1p5-9
Mullins, J. W., Walker, O. C., & Larreche, J. (2005). Marketing management: A strategic, decision-making approach. McGraw-Hill/Irwin.
Newman, D. (2016). How well does your organization use feedback loops? Forbes. https://www.forbes.com/sites/danielnewman/2016/08/02/how-well-does-your-organization-use-feedback-loops/?sh=758d4715594b
