Brand and Phone Payment Methods Essay

Submitted By Harshana1
Words: 1314
Pages: 6
Open Document
Marketing Plan Situation Analysis
Phase 2

* Executive Summary

Level Up’s mission is to organize a phone payment system to make it universally acceptable and useful. Level Up advances global commerce by providing a critical economic link among restaurants, individual users and financial institutions while increasing customer loyalty and developing payment solutions. Level Up offers coupons and incentives to loyal customers who accumulate business over time with a certain company. As one of the first major companies to process mobile commerce in the United States, Level Up has tremendous potential as a company, and improving customer awareness may be the cornerstone to success in the future.

* Situation Analysis

The Level Up method: 1.) Scan your QR code 2.) Receive your digital receipt 3.) Earn Credit towards future purchases

What is the external and internal environment like? * Smart phone payment methods have been slow to catch on in the US * Smart phone payment methods are already popular in South America and Asia.

The external environment for Level Up is ripe for growth. With more and more average people carrying mobile devices such as the IPhone and Android phones Level Up stands to grow.

The ‘chicken and the egg problem’: Meaning the market will not evolve until the mobile payment method is both desired by consumers and offered by businesses. But businesses are hesitant to offer such payment methods when they aren’t confident in a positive response from customers.
“Furthermore, mobile payments are characterized by a network effects problem: consumers will not demand them until they know that enough merchants accept them, and merchants will not implement the technology until a critical mass of consumers justifies the cost of doing so.” (Federal Reserve Bank of Boston paper)

Strengths - Level Up is a relatively new business. It is a highly attractive payment system for the retail and food industries.

Weaknesses - Level Up may struggle to expand into the higher end businesses that rely more on brand name and built-in brand loyalty. Examples may include Jos. A Bank or Tiffaney Co. Jewelry stores. Stores in which the customer is not expected to need to return immediately for return business would be a hard sell for Level Up.

Opportunities – Massive Market Potential. The opportunities for mobile technology shopping are endless. One way to improve that system would be to improve the Level Up user interface. If users could easily track purchase history by location and item, Level Up could ‘suggest’ products from nearby businesses in much the same way that Amazon.com gives its suggestions. LevelUp should provide a search input feature so customers can type in their location and find out the stores that have offers in that area. Level Up can improve its brand recognition immensely. Not many of our group members had heard of the company before the project was assigned. Our age group should be the target market for this type of promotion. Level Up should advertise its security to retailers and other businesses. Level Up has proven to be very secure with users’ money. “So long cash and coins,” says one YouTube user.
Areas of Focus: ****Bars. College bars in the operating cities especially in Boston would be a good area of expansion.

Threats - similar companies who offer incentivized consuming. Stores will increasingly move towards programs like Level Up. Go Payment from Intuit is another payment method on the market that incorporates smartphone technology to allow scanning of credit cards and signing on the touch screens. There is proven value to allowing consumers to buy things using their mobile devices and undoubtedly there will be other programs like Level Up entering the market.

WORKS CITED 1.) Crowe, Rysman, and Stavins. “Mobile Payments in the United States at Retail Point of Sale: Current Markets and Future Prospects.” Federal
Show More

Related Documents: Brand and Phone Payment Methods Essay

Essay about Msc Strategic Marketing Assignment

specific target markets the use of social networks is recommended. Social networks allow you to target users on a wide variety of demographic, psychographic, lifestyle information and interests supplied voluntarily by its users. American Express brand is virtually universal, and a single geographic market is quite small. Therefor it is suggested that it is better to focus an e-marketing campaign, via social media, on a global or regional scale than national. The online marketing campaign directed…

Words 2280 - Pages 10

Essay on Mobile Computing

services using mobile phone or personal organizer. History Mobile Commerce Services were first delivered in 1997, when the two mobile-phones enabled Coca Cola vending machines were installed in Helsinki area in Finland. The M-Commerce server developed in late 1997 by Kevin Duffey at Logica. Since the launch of mobile phones, Commerce has moved away from SMS systems and into actual applications. M-Commerce is the ability to conduct commerce using a mobile device such as mobile phone, Personal Digital…

Words 1711 - Pages 7

Developed Country and United States Essay

I'm pleased with how I made achievements in my role. I was hired a part time entry level customer service adviser in an International Call Center. Being a beginner I answered the phone calls, of the easy customers and resolved queries. I took the initiative and asked for additional work. That gave me the opportunity to prove myself, they increased my role to a full time adviser and I was promoted to senior customer service executive after eight months. After two years in that position, during which…

Words 969 - Pages 4

Marketing Research Report for Blackberry Smartphone Essay

Project Felicia Rateliff (Peck) Colorado Technical University Online Marketing Research Practices MKT350-1204A-01 Professor Kay Green November 5, 2012 Abstract This paper explains the profile of the target market for the Blackberry smart phone. After conducting secondary research on Research In Motion’s Blackberry smartphone and the target market, questions are answered about who, what and why this target is chosen. The importance of selecting a target market is discussed. The target market…

Words 2376 - Pages 10

Travel And Tourism Case Study

most downloaded app category and almost 60% smart phone users, including iPhone and Android users regularly use travel apps to plan trips. Gone are the days when travellers relied on agents for making travel arrangements. Guidebooks, compasses, maps and other printed stuff have been…

Words 1232 - Pages 5

Marketing: Marketing and Customer Loyalty Essay

Expert Systems with Applications 31 (2006) 101–107 www.elsevier.com/locate/eswa Customer segmentation and strategy development based on customer lifetime value: A case study Su-Yeon Kim a, Tae-Soo Jung b, Eui-Ho Suh c, Hyun-Seok Hwang d,* b a School of Computer and Information Technology, Daegu University, 15 Naeri, Jinryang, Gyeongsan, Gyeongbuk 712-714, South Korea Department of Management Strategy, Samsung Economic Research Institute, 191 Hangangro 2-ga, Youngsan-gu, Seoul 140-722…

Words 4895 - Pages 20

Bean: Traditional Shopping Essay

Online shopping is a new technological method for purchasing varied products from a particular source by young generation. Juvenile were very fast adopting this process for purchasing electronic gadgets and much more. Many people oftenly says I’m obsessed with shopping. I'll dig up these urges to buy, like to shop for stuff on the Internet. Basically there are two modes for shopping today i.e Traditional and Online Shopping. Both of them are good in their respective. Traditional Shopping In…

Words 495 - Pages 2

Essay on Visa: Credit Card and Visa

...................................................... 18 Strategic Recommendations ................................................................................................... 20 2 Executive Summary Visa (NYSE: V) operates the largest payment network in the world. Consistently profitable, Visa went public in 2008 in the largest American IPO of all time, and since then, the stock price has appreciated by approximately 400%. Despite being tied heavily to consumer spending, Visa’s revenue…

Words 6729 - Pages 27

Final COMP90047 Cryptography Research Assignment Essay

Payment Systems and the Introduction of Tokenisation to Enhance Security Konstantinos Dean Apostolopoulos [dapo] [390069] Peter Mansour [pmansour] [391805] Department of Computing and Information Systems, University of Melbourne, Australia Email: d.apostolopoulos@student.unimelb.edu.au, p.mansour@student.unimelb.edu.au The forms of payment have evolved throughout the last half century to make use of emerging technological innovations to greatly enhance the security and convenience of transacting…

Words 4185 - Pages 17

Strategic Webdesign Essays

the website shows the expertise of the group or individual that has created the website. John Lewis can be affiliated to another major company Waitrose, creating a partnership, John Lewis Partnership (JLP). However, John Lewis also sells up-chain brands and products such as Apple products, Braun, Beats, Dyson etc. Content The first impressions of the website is that it is very easy to read and understand the website. It has headings on top, a clear picture with the MacBook on it with warranty…

Words 1963 - Pages 8