Exemplory instance of a Example: Personal Application about Apple Finance Program

Concrete Experience

Towards the end of the year 2012, Apple inclusive experienced a drop in the iPad UK market share (Bryant, 2012). Apple Inc, desired to ascertain the explanation for the drop. I worked in a team that sought to discover the effectiveness of the Apple Financing program that gave loans to clients to buy Apple products. It sold products and services on credit. By offering products on credit, a specific percentage of customers would choose to buy on credit because it can be obtained instead of cash. Apple earns an interest rate of 14. 9% because of allowing the customer to buy on credit. My responsibility included collecting data in regards to the company considering that the program started. Some of my colleagues were involved in interviewing customers on the benefits of this system. We used percentages to look for the effectiveness of the program. We drafted questionnaires for customer care interviews. We also drafted a mini-budget for the evaluation process.

Brief Description of the Program

Apple, Inc. uses the consumer finance program to boost affordability of its products and services to U. K. residents. The program is practically similar to hire purchase with no initial deposit. The payment for these products is made through monthly deductions from customers’ salaries. The company’s marketing slogan states, “Pay for the Apple products and services while you use them” (Apple Financing, 2013). The product that the customer chooses to buy must certanly be worth at the least £ 429. Customers can apply for this system through the Apple Online shop or an official Apple Reseller.

The loans range up to £2, 000. Somebody who has been given financing of £2, 000 pays £95. 95 monthly for 24 months. The interest is fixed at 14. 9%. A person with a loan of £500 pays £23. 99 monthly for 24 months (Spreading the Cost with Financing, 2013). From these spread costs, affordability has increased. The mark groups are students and low-income earners.

A U. K. resident should have a full-time paying job to be eligible for a the application. One must be aged over 18 years when applying. The resident should have stayed because location for at least 36 months. One must own a bank account that accepts direct debits. One must also have a home delivery address (Apple Finance, 2013).

The aim of the program would be to ensure that Apple customers have the ability to afford its products due to spread cost. Royse, Thyer & Padgett (2010) describe such a program as “an organized assortment of activities made to reach certain objectives” (p. 5). The business expects that its sales will rise by about 50% to 100%. This is a market penetration strategy. Consumers who had never owned any of Apple’s products have the ability to have an event of their quality.

Apple needed the evaluation to summarize that this program has enhanced profitability. Royse, Thyer & Padgett (2010) discuss that decision-makers consider whether an application has achieved its objectives. They always check whether the same goals might have been achieved better value. The company is involved in continual inventions, it could like to benefit fully on every new piece of technology it launches. It is ready to ensure that its products capture the largest market before new inventions renders them obsolete.

The evaluation process sought to learn if Apple had achieved a larger market share through the program. It might have reached in to a new market segment due to the program. The evaluation process also considered customer satisfaction as a result of program. Credit involves risk that should be rewarded with reasonably limited. The evaluation measures perhaps the company earns more to own products in credit than to keep them in store.

Aim of the Evaluation

The evaluation sought to find out perhaps the company earns more by selling services and products on credit than it could receive by relying only on cash sales. The evaluation sought to find out if the program had increased client satisfaction. The evaluation process was used to “identify strengths and areas that need improvement” (Program Evaluation, n. d. 11). The evaluation process is more effective when carried out for an ongoing program rather than one which is being in the offing.

The sum total number of iPod sold since their invention is about 350m, iPhone about 192. 6m, 400m IOS devices and iPad about 84m (Sloan, 2012). In 2011, the revenues amounted to $108. 249 billion (Apple Computer Company Statistics, n. d).

Logic of the Evaluation

By Apple attempting to sell its products and services on credit, it may have reduced a specific percentage of the cash sales. The overall sales may have increased but the sales revenues are delayed. The evaluation examined whether the added cost that clients who buy on credit give may be worth the risk and the delay in payment.

Program Evaluation Structure

This system evaluation structure began with the description of the aims of the evaluation. The aims of the evaluation process measured perhaps the objectives of the program was achieved (Program Evaluation, n. d. ). The core concepts of the program included a market penetration strategy. Apple tries to produce its high-valued products affordable to a low-income group with constant employment.

The main element indicators included customer satisfaction, amount of products purchased through this program, products purchased through cash sales, the revenues received from this program against the cost of production, and the rate of default by customers.

Methods & Sources

Customer care was surveyed through questionnaire where clients were asked to answer questions giving the impression of satisfaction. The customer compares a product from Apple that she/he bought for cash against one on credit. They inquired about out the number of products and services they had bought on credit from Apple. The evaluation considered perhaps the customer felt that the item on credit was over-priced. The number of products and services purchased through the program was collected from the segment of the market. It absolutely was aimed at reducing costs in place of conducting the evaluation from the entire country. The data for the other indicators were obtained from the sales and marketing manager…