This report analyses how Cristal Corporation chose the United Kingdom as its European lauchpad for its MCristal mobile phone. MCristal phones use the Near Field Technology (NFC) to enable cashless money transaction. Cristal Corporation chose to do a Strategic Alliance with T-mobile to overcome some amount of foreign market hurdles. The company also needs to partner with large retail chains like Tesco, Aldi, and with the airline companies etc. to invest in NFC interface machines.
The report also analyses the company’s marketing mix of product, price, promotion and place.
Table of Content
In today’s world of highly paced environment with a constant need to be in the frontline of technological advances, owing the newest mobile phones with the latest features is a must have that people line up for hours to get.
The product that I am going to introduce is currently focused and available in Japan with European countries and USA trying hard to replicate the same success in their own countries.
The name of the product is the M-Pay enabled Cristal mobile phones, simply called MCristal. The product, although based on the use of real technology, is fictional. M-Pay uses the Near Field Communication (NFC) technology. The NFC works with short range frequency that gives a signal from, in this case, the customers mobile phone to another terminal (3). With this technology, via M-Pay, one can pay for goods and services cashlessly, by MCristal. The mobile phone will have a chip inserted in it that will store debit card, credit card information and/or prepaid voucher card on it. It will have a £200 pounds per transaction limit. You could use the mobile phone to pay for wide range of purposes from paying for groceries to paying for a plane ticket. All one will have to do is, touch the mobile phone on the cash-less payment point, insert a four digit personal pin number on... [continues]
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(2010, 04). Market Selection and Entry Mode. StudyMode.com. Retrieved 04, 2010, from http://www.studymode.com/essays/Market-Selection-And-Entry-Mode-310332.html
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