Smart Card Marketing Solutions is a company established in 2003 that provides postpaid card services to clients seeking an option to recognition cards and as a signifier of electronic records for merchandisers in respects to entering a client purchasing behaviour. Smart Card Marketing Solutions ( referred to in this paper as SMKG traveling frontward ) offered four types on services: GoSmartCard. Velocity money. Velocity Merchant. and postpaid radio. Each of the services. in add-on to the audience. back land on the market. strengths and failings of the company. and selling schemes.
Types of Service and Competition
Go Smart Card The GoSmartCard is a service that allows companies to utilize the card and inducement plans. This is offered to merchandisers and retailed and personal history information. The platform itself is a real-time cyberspace based application that monitors the dealing in real-time and let for merchandisers to entree the information. The competition could be any company or retail merchant that offers gift cards. This service is offered by many retail merchants already. This service is already in the market and for some clip now.
The service includes two card types: Pin Debit Card. which is used by clients as one would a traditional debit card and a Master debit card. which operates like a traditional Master card. Both are attractive characteristics but there lies a afloat market with tonss of competition
This service allows electronic cheque processing. This characteristic has been offered by Tele-Check for many old ages. The advantage to this characteristic is the e-commerce site that offers extra characteristics such as private labeling on Master card and instant money transportations. Those are two attractive characteristics.
Now postpaid radio is a service offered. which allows the retail merchant does non hold to pay for a merchandise until after the sale is made. This is a really attractive characteristic for retail merchants.
Entree to the Market Feasibility
The end of feasibleness is to is to measure the economic viability of the proposed concern. The feasibleness survey needs to reply the inquiry: “Does the thought make economic sense? ” The survey should supply a thorough analysis of the concern chance. including a expression at all the possible barriers that may stand in the manner of the cooperative’s success. The result of the feasibleness survey will bespeak whether or non to continue with the proposed venture. If the consequences of the feasibleness survey are positive. so the co-op can continue to develop a concern program. ( Williams. 2011 )
After reappraisal of the customer’s web site. services offered. and over end. the Market feasibleness does non do sense. The market is saturated with competition such as Visa. MasterCard. Discover. AMEX. Rush Card. and many more. The company does non look to hold done the necessary research to find the whether there is a demand for this service in the market. In add-on. this would suggest to the fact a proper concern plane was non completed and reviewed. Their cogency of market credence appears to be assumed versus researched and surveies.
Conclusion Overall. SKMG could hold done more research on the demand of their services. Primary market research is one of the starting points for this client to hold been able to find credence into the market. Appendix I shows the current province of their stableness in the market.