Marketing Analysis of Dexit Inc

Marketing Analysis of Dexit Inc Case Analysis Report: Dexit Introduction to Dexit Inc. In 2001 a privately held firm known as Dexit Inc. (the â€Å"Debit Express† company) was formed by Renah Persofsky, a former member of the Bank of Montreal’s e-commerce subsidiary had left to pursue opportunities more aggressively. The company’s goal was to provide customers with a new convenient and easy to use electronic payment system that would provide an alternative option to cash for low-value transactions. Dexit Inc. had expected that this electronic payment service to be used for a small transaction averaging a cost of approximately of $4, however in addition there was a belief that this service could possibly be used for purchases potentially as large as $25. The design of Dexit’s service would allow customers to pay for goods and services by waving an electronic tag near a specialized reader that would be placed at a retail counter that would communicate in a secure manner with Dexit’s central payment clearing system. This process would on average be completed in less than three seconds which would generate fast no- hassle payments that could also be tracked enabling users to monitor their low-value purchases. This system which has been extensively tested and deemed to be highly reliable would be based on Radio Frequency Identification (RFID) technology. With this technology a secure personal identification number in the customer’s tag would be read wirelessly by the merchant’s terminal. Problem Identification Flashing forward to today, Renah Persofsky (CEO) is facing critical decisions regarding the launch of Dexit Inc.’s electronic payment system. Currently Dexit has attracted two of Canada’s largest banks as early stage investors and as well Telus Mobility, the wireless subsidiary of the country’s second largest telecommunications firm. All three entities have expressed significant enthusiasm for Dexit’s wireless payment service however each wanted to see a firm marketing plan before commitment of further resources to Dexit. The key decisions that CEO Renah Persofsky faced in order to push ahead with the project had included: Deciding which merchants and consumers Dexit’s service would target which would  shape the other aspects of the marketing plan. Determining whether any additions or changes needed to be made to the product itself. Establishing the pricing strategy that Dexit would implement which would take into  account the value of the service to merchants and consumers and their willingness to pay. Create a promotional plan to reach each target audience and decide between a Toronto-only launch, regional launch, or national launch in major Canadian cities. SWOT Analysis Strengths: Dexit has major companies like two of Canada’s largest banks and Telus Mobility supporting them which gives them huge area to explore. The new system is much more effective than the previous ones launched in the market because it provides an efficient way to settle retail transactions. The transactions are very secure and takes just three seconds for transactions to work due to Radio Frequency Identification (RDIF) technology.The company is targeting retail businesses characterized by high-frequency and low-value transactions by providing them with system which provides ease, speed and security. They are also targeting consumers who make lots of small transactions. They are providing customers with username and password so they can access their own account and keep track of their transactions. As for merchants they will be able to register for an account by providing basic information about financial institution to settle payments which will be executed on a daily basis by tra nsferring funds electronically to the merchants bank. And for retailers they offered faster payment than cash, credits or debit. Weakness: The history of the product outside the firm has been unsuccessful due to merchants finding the payment process costly and inconvenient since they had to operate two separate terminals: a traditional swipe reader for customer who used debit transaction and second to read the card’s computer chip for stored value transactions. Also, with major company backing the company it is crucial for Dexit to provide them with positive result. Opportunities: Dexit has opportunity to establish itself in the largest market for digital transactions. It also has a chance to explore the global market as their long term plan which will help them to expand their market and develop sustained competitive advantages. It will also help Dexit to bring in new ideas, expand their horizons and strengthen their market value. Threats: Since it is not easy to replicate the domestic market success globally it might not have to same positive results. Other companies can also easily attain the technology which could increase the risk of losing customers to the rivals. There are many other companies that allow customers to make electronic payments. Those companies give cards instead of key tags which means that customers will most likely stick to using cards since they are used to it. Also Dexit has just entered the market so it will take a while for the company to get customers. The company will have a hard time dealing with its competitors. Segmentation, Targeting and Positioning Dexit Inc. are providing consumers an easier and faster methods of making their everyday transactions. The target for Dexit Inc. can be divided into the consumers and the merchants. Merchants can save a lot of time servicing a customer at a busy store and consumers could save a great amount of time avoiding line-up on their way to something important. Places like gas stations and fast food restaurants usually with a heavy customer traffic are potential merchant groups. Key tags will not only reduce the time it takes to processed with a transaction but will also reduce the amount of theft from the cash register since everything would be done by electronic money. This will enable them to take more customer by avoiding walkaways. Merchants such as Esso, Tim Hortons, Mcdonalds are possible businesses that would benefit having Dexit receives at their locations. Dexit’s consumer market can be segmented by their work and lifestyle and attitudes. A consumer’s perception towards a fast food restaurants is to attain a quick service, even when it comes to making the payment for their purchase. Customers that usually rush to Tim Horton’s are eager to either get to work or to an educational institute. The target market would vary from young adult to early 50s would are either employed or enrolled at an educational institute. According to Employment and Social Development Canada about 81.6 percent canadian from ages 25 to 44 are employed and about 71.3 percent canadians from ages 45 to 65 are employed. These employed canadian are always in a hurry to get to work on time and rushing back home to avoid traffic. OCUL on their website states about 458,251 student across Ontario alone on their updated statistics August 2014. Dixits main focus should be towards targeting Canadian student and employed customers who use electronic payment methods to make their everyday purchases smoother and quicker. Imagine not requiring to take out your wallet and being able t o make a payment through a key holder that is attached to you car keys, or being able to tell how much of you money was spend on everyday small expenses such as gas, coffee or morning breakfast. In Canada, the market size has been estimated to be about 536 billion dollars in the payment industry, with about 4.1 billion transactions made through debit and credit cards. These cards often get lost or stolen without consumer’s attention and are also misused by frauds that can cost consumes a great amount of money. Key tags on the other hand are quite secure since their have less chances of getting lost and consumers can easily notice if key tag is lost. Consumers would be feel more safe and secured to make smaller everyday transaction. Product Strategy The core benefit in using Dexit’s payment system is to make is easier for consumers and merchant to make small amount purchases more efficiently. Small Purchases ranging from a dollar to about 25 dollars. This for everyday consumer would speed-up their ordering time and for merchants would speed-up the selling process. The product would also help consumer keep track of their small purchases with security. Key chain fob with the RFID technology is a very good payment system. Consumers would find it easier and more convenient to use keychain to make their small purchases. Consumers and merchants save time and also the risk of losing money. Consumer will no longer need to worry about giving exact change or worry about losing pocket change on their way to a nearby store. Place Strategy Since Dexit’s key tag is a brand new idea in the market, it would be better if the product is first tested out in a smaller market. Having Dexit Inc. promote their product nationally would be costly and very risk. If product not successful it could cost Dexit a huge amount on loses. To ensure the product is successful it would be beneficial is the company decided to introduce the product only in Ontario first. Dexit should focus on attracting market share in Ontario, since it already has a bigger population than other provinces. In 2001, the amount of interac direct payments equaled to about 755 million traction only in Ontario. There are about 6,551,298 interac direct users with about 116,241 merchants that also use interac. Currently in ontario the unemployment rate is about 6.9 percent, which is quite low. Student in Ontario have a quite large population. Price Strategy Dexit Inc. requires to strategize the price they would charge the consumers and their merchants. Effectively balancing payments between consumers and merchants will lead to adoption by both and prevent them from seeking alternatives. To do this it is important to not charge either side in a way that they will perceive as detrimental. Consumers will not be charged upfront for registering or to acquire the RFID tag. This avoids creating an initial investment barrier between consumers and their service. Consumers won’t need to invest to try out Dexit. Instead they will be charged a small fee for each transaction. They will be attracted to use Dexit because of it’s convenience and time-saving capabilities. They won’t mind paying the small transaction based fee. Instead they will focus on the opportunity to use a new, innovative, time saving technology. Merchants won’t be charged a transaction based fee. This will encourage them to promote Dexit to customers using payment methods that do charge a transaction fee like debit or credit. This is one of the ways Dexit will use a push strategy. Instead they will be charged an upfront cost to have the reader installed in their store. Merchants are more likely to be ok with an upfront cost, seeing it as an investment to attract customers that use Dexit and a competitive advantage in terms of convenience. Customers who value their time and prefer convenience will choose locations that have Dexit readers installed. This is one of the ways Dexit will employ a pull Strategy. By balancing the costs between merchants and consumers Dexit can encourage adoption among both groups. By receiving short term payments from merchants and long term payments from consumers Dexit can smooth out their revenue, allowing them to better plan for future expansions and investments. Promotion Strategy The main goal of Persofsky’s promotional strategy was to reach her chosen target markets. This could be determined by either a Pull or Push strategy. With a Push strategy, merchants are given incentives to promote the Dexit service. With a Pull strategy, a buzz is created around the product and helps increase the demand from consumers. A Pull strategy would work well for Dexit, based on the fact it is a product of major convenience, one that could catch on in the marketplace when promoted properly. When â€Å"buzz† is created around a product that can offer consumers something quick and tangible, it has a habit of catching on and allowing other consumers to see the benefits for themselves. With minimal cash flow, Dexit is forced to get creative with the promotional aspect of the product and company. Traditional advertising can be considered, along with sales promotions and direct marketing. Traditional advertising is effective because it can be used on so many different channels, such as radio, newspapers, magazines and television. By using traditional advertising, Dexit can reach a large number of consumers through the wide variety of channels. Final recommendation With Dexit being a new product, and this type of technology being new to consumers, it will be important to generate a high volume of sales in the early stages. This will require Dexit to penetrate the marketplace with low initial prices to gain as much traction as possible. The most plausible revenue model it to charge consumers a small percentage to use Dexit services. The consumers will most likely use Dexit due to it’s convenience and time-saving capabilities. Consumers will sacrifice the small percentage they will be paying for each transaction to save time at the checkout. In addition merchants can be charged when they purchase the Dexit POS terminals, this will create extra revenue for the company. Merchants will be likely to purchase the terminals because they want to attract consumers who are using Dexit, in hopes of having them enter their store instead of going to a competitors location. It will be important to try and sell the terminals to chain stores, who will place the Dexit terminal in all of their stores, and also receive a discounted price for bulk orders. Consumers should be able to receive the RFID tags for free, this will give the consumer a sense of nostalgia with the product and be more likely to keep it and attach it to a key-chain or store it in their wallet. If the consumers have to pay for the tag and then pay a charge each time they use it, they may feel like they are being taken advantage of and decide to use traditional forms of paying. Many consumers are very price sensitive and the additional tag charge may be ll it takes for them to stay away from Dexit. Contingencies With any type of business plan it is important to plan for unexpected events or sudden changes in the marketplace. These contingencies can stem from any part of the company or product that is being launched into the market and how they will change the original marketing plan that was developed before the launch.In the case of Dexit, there are many different contingencies that should be thought out and planned before launch. Firstly, a contingency should be developed in the case that the equipment or software that is used in the Dexit tag is faulty or has some issues. This is a common type of problem with any product that involves technology as there is no way to guarantee with 100% certainty that the product will not falter. Secondly, a contingency should be developed in case the consumers do not catch on to the Dexit product and sales are lagging form initial estimates. This may include switching up the promotional strategy or targeting a different consumer group than originally thought. It will only take a short time period to see whether or not consumers are beginning to use Dexit or not and at that point a decision will be made to stay the course or switch up the marketing plan.

Killing Without Emotions

Shaharyar khan Michael Miller CW 1 Date: 05/02/13 Killing Without Emotions â€Å"In World War Two it is fact that only 15 to 20 percent of the solider fired at the enemy. That is one in five soldiers actually shooting at a Nazi when he sees one. † (Frisbee Jr) This surprising fact clearly indicates how hard it is to kill without emotions. The guilt or the feeling one gets after he has killed somebody is the worst feeling of his/her life. This fact also indicates our human nature. Emotions are the essential and necessary part of humans. In one way, humans are differentiated from animals and emotionless machines.This human nature of ours makes us think or stops us in order to kill without emotions. When humans are hardwired to be empathetic and compassionate not to kill, it is hard to understand why there is so much killing in the world? How, with empathy and compassion, can people kill? They must override their emotions with stronger emotions of hate and notions of purpose base d on their beliefs. In the following paragraphs will present few examples that will indicate why and how some people override their emotions with stronger emotions based on their purpose.A common example of this is of a suicide bomber. So how these suicide bombers are formed or what is the psychology involved behind suicide bombing. . Often the suicide bombers arrested in Pakistan are usually teenagers and are from a poor background. They are usually kidnapped on their way to school or madraassa (religious school) and then brainwashed. Research and Today’s media reveals that suicide bombers using their religion as a shield justifies what they are doing are right.During brainwashing they are kept isolated and given misleading information on the name of the religion. They are told by the corrupt religious leaders that killing of the non Muslims are justified according to their religion. In addition to this they are also told that dying in the name of their religion will earn th em the rank of a martyred. They are also brainwashed that they will earn a high rank in the heavens and rivers of milk and honey and beautiful virgins await. (Yusufzai and Jamal). They are offered high price to get the job done.They are assured that their family will live wealthy life after their job is done. Almost 90% of the suicide bombers are normal humans but, after knowing the position they can earn by dying in the name of their religion, change their emotions to kill hundreds of innocent humans. From this above example it can be concluded that they simple overcome their emotions with stronger emotions of earning high rank in Heavens by dying in the name of the religion, securing the lives of their family and obeying the orders of God.Another type of the people who override their emotions to kill are the soldiers. Soldiers override their emotions for certain reasons that they learn during the training. During the training there are told that they are the protectors of the land . The lives of their families and their countrymen depend on them. Moreover, they are trained with the fact that what they are doing is right and justified and God is with them. The training for the soldiers keeps on the changing with time to time. The soldiers are given complete training/ practicing area. The soldiers are desensitized by making them shoot at human shaped paper targets, drill and then to moving targets and pop up targets look kind of human shape making their response automatic and focused†. (Dwyer). The training areas includes all kinds of difficult pathways, underground tunnels and sudden appearance of the human shaped targets which they have shoot at and take them down. They are also congratulated on their first kill which increases their confidence to override their emotions more easily â€Å"In addition to this there are addressed directly making them believe that they actually have to kill. (Robinson). â€Å"Often a times the present the enemies in way that does not even feel like a human; for instance they will call their enemies by those names that even don’t look familiar. Names like â€Å"gook† who knows what is gook? It does not sound like a human or a person. Half of the desensitizing and dehumanizing is made easier in presenting a person that does not even to our class or kind. In addition, saying that God is with us, we are fighting for the sake of our country and the people and God is proud of us.A lot of killing is made easier in this for the soldiers presenting these as a reason. † (Pomerantz) So, with this kind of training and lessons of patriotism being given to the soldiers makes it easier to override to their emotions. In the conclusion I would restate again that killing without emotions is really hard unless you have you don’t overcome your emotions. It takes a lot of nerve and heart to kill without emotions. Works cited Dwyer, Gwynne. â€Å"Soldiers trained to kill and post-traumatic ps ycho-babble. Thuppahi's blog, 29 April 2011. Web. Web. 18 Feb. 2013. Yusufzai, Asfaq, and Amna Nasir Jamal. â€Å"Teenagers recruited, trained as suicide bombers. †Ã‚  Central online Asia. N. p. , 11 04 2011. Web. 18 Feb 2013. Robinson, Steve. â€Å"The impact of killing and how to prepare the soldiers . †Ã‚  Frontline. Frontline, 01 Mar 2001. Web. 18 Feb 2013. Pomerantz, Andrew. â€Å"The impact of killing and how to prepare the soldiers . †Ã‚  Frontline. Frontline, 01 Mar 2001. Web. 18 Feb 2013.

Short Article Reveals the Undeniable Facts About Process Essay Samples and How It Can Affect You

Short Article Reveals the Undeniable Facts About Process Essay Samples and How It Can Affect You Some individuals would normally neglect to bring that at the close of the process essay. As you keep on grooving, it will become unclear as to who you want to please. Read about your steps critically to check whether you've omitted anything. You've already noticed that the writing step is at the base of the practice. For your body paragraphs, you just fill in the facts of the steps on your outline. Describing steps in prose is a bit different. Describing the steps alone may be dull. Possessing a plan lets you know just what you will need to research. Today, there are several custom writing companies online but the caliber of the services they offer is different. There's no best procedure and many organizations have developed their own software procedure. There are an infinite number of websites where you will find quality writing services. Furthermore, comparison essays represent the differences between a couple of things. As soon as you own a topic, you have to make a decision as to what way you need to approach it. Pick a side on you selected topic when you haven't already. No matter how familiar the topic might seem, always study the field in general and get started searching for proof to back up your cla ims. In several other situations, it's been seen that potential students ruin their paper quality due to deficiency of suitable idea and beneficial suggestions that are essential to compose technically accurate copies. Throughout your university years you'll be asked to compose essays and research papers to be successful in your study. How-to There are plenty of steps which you may take to get much better help on your papers via an English tutor. Finding out how to compose an essay is extremely important, especially if you're a student at a number of of the greatest universities in the planet, like the Boston University, for instance, because the essay is among the most assigned academic papers students will need to write during the course of their education. Essay writing is a critical portion of your academic education or a writing career if you decide to go like that. It's possible to write your plan in MS Word or you may do it on a blank bit of paper. You might discover that some of your statements have flawed logic after a number of days, so be sure to check all of them out. The thesis statement is believed to be the most significant sentence of your paper as it informs the reader not only which problem you'll be examining, but nevertheless, it should give them an idea concerning how you'll have the ability to fix the matter accessible. Process Essay Samples and Process Essay Samples - The Perfect Combination So now that you have all of the steps down, you're want to place the steps in order. Every step should be analyzed. Once you choose the procedure you wish to concentrate on, you then need to earn a list of steps necessary to attain the aims of the activity. This step-by-step procedure can be challenging for the reason that it lends itself to a set of instructions. For example, if your process essay is all about making the ideal shepherd's pie, consider drafting a paragraph on how best to make the filling below and another paragraph a bout how to create good mashed potatoes in addition to the lamb filling below. It's not sufficient to claim one particular idea is far better than the other, you truly have to prove it. Bear in mind, the power of persuasion is about supporting everything you say with good proof. Second, and perhaps more to the point, the practice of writing is the way I start to shift power as opposed to power shifting me. Process Essay Samples Help! In prototyping, the customer is involved throughout the development procedure, which increases the odds of client acceptance of the end implementation. In practice, but the model is rarely utilized. Alternately, you can imagine unconventional processes. The Upside to Process Essay Samples Writing expository essays is a typical task in school days and through this sort of essay writing, students may enhance their writing style and thinking skill. Students may find lots of examples of essays on the internet by going into the vital keywords and p hrases. Although most students regard essay writing as a dull and hard assignment, it isn't necessarily accurate. At our essay assistance, essays are always delivered in a brief moment. Also try to remember an essay is intended to be a continuous bit of prose, and therefore don't use bullet points. Your essay needs to be concise and simple to comprehend. Normally, a well-structured essay was created with five paragraphs. Transition needs to be included between the paragraphs so the readers can become involved in the writing. Very good essay plans are able to help you avoid missing some steps when you're writing process essays. Developing an excellent essay program is extremely crucial in essay preparation because once a great plan is laid down, it will be simple to follow it and produce the very best essay from it.

Police Gang So I Chose The Mexican Mafia - 1651 Words

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