M-MONEY

M-Money

Abstract

The product that we are launching is M-Money. M-Money is a Metro Card charging vending machine. We are launching this product initially in Los Angeles and seeing the response of the product in Los Angeles, if the idea is successful, we will launch it in other regions as well. A firm's strategic decision making requires understanding the information search behaviour of its customers. There are various factors that influence the information search process. M-money may be regarded as a consumer product that will appeal the convenience oriented consumers of Los Angeles. The Metro card charger vending machine is based on the concept of Pay for what you spend! The vending machine refrains the customer from unwanted charge because the customer's plan will never be 100% certain. The competitive advantage that the company will highlight is the fact that many of the current offerings simply provide limited options in which a customer can only select among day, weekly, or monthly passes. Although reduced fare passes are also available for students, which enables eligible applicants to obtain special TAP cards and purchase reduced-rate monthly or single one-way passes. These are good options and benefits but these alternatives to M-money do not allow Metro users who want to charge their pass cards to use up to the amount they wish to consume and use it whenever they board in the future. Moreover, EZ Transit Pass which is our only possible competitive service offers a monthly pass that is valid from the first day of the month through the last day of the month. The opinion leaders will help us communicate this competitive edge.

M-Money

Introduction

The product that we are launching is M-Money. M-Money is a Metro Card charging vending machine. We are launching this product initially in Los Angeles and seeing the response of the product in Los Angeles, if the idea is successful, we will launch it in other regions as well. This is not only a new product but also a new idea altogether. M-money will be a for profit venture where the financing will come from the owner's own equity. It is a unique concept in that customers will recharge their metro cards through the machine and will not need to bother about standing and waiting in the queue.

Consumer information search strategy

A firm's strategic decision making requires understanding the information search behaviour of its customers. There are various factors that influence the information search process. M-money may be regarded as a consumer product that will appeal the convenience oriented consumers of Los Angeles. The situational factors will come into play here, as people who are on their go all the time and have really busy schedule will prefer using M-money for charging their metro cards as they will not have to worry about the expiry of their cards and will be able to pay just what they want, without getting in line. Therefore, the consumers will be very active in their information search ...