![]() ![]() Business leaders and employees should incorporate the needs of this broader stakeholder group into their daily decision making. The authors state that business leaders can achieve far more by incorporating higher purposes into their business plans than they can by a single-minded pursuit of profits.Ĭonscious capitalists believe that businesses aren't just accountable to shareholders - they're accountable to the larger population and the environment, too. ![]() Other smart strategies include premium outlook and pricing, strategic partnerships and 360° presence which makes the customers proud of their association with the company.The book, "Conscious Capitalism: Liberating the Heroic Spirit of Business," argues for an upgraded form of free-market capitalism. The use of My Starbucks Rewards program which gives the customers free drink or food rewards based on the number of stars earned proved to be a great ‘pull’ strategy. The company uses smart customer loyalty programs to make customers loyal to its brand. Starbucks is another winner when it comes to brand loyalty. The company smartly bundles the benefits and the different outlook (iOS) with the premium marketing and pricing strategies to make it appeal to the urban high earners who love to differentiate themselves from the crowd of Android owners. It doesn’t brag on the tech part but communicates what the customers want to hear – the benefits. According to a survey by Morgan Stanley, 92 per cent of iPhone users are “somewhat likely” or “extremely likely” to upgrade their phone in the next 12 months plan on getting another iPhone.Īpple plays its cards on customer convenience and its premium outlook. ![]() Apple is among the brands with most brand-loyal customers. ![]()
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