Dexit Case
BACKGROUND
Company:
Dexit Inc. is a privately owned company formed in Toronto in 2001. The company's goal is to provide customers with convenient and easy-to-use electronic payment system that would be an alternative cash for low-value transactions.
Product and service:
Product/service 1 On registration by filling a form at the Dexit enabled merchant locations, on the Dexit website, or by calling the Dexit call center, customers will receive a Dexit Radio Frequency Identification (RFID) tag that could be attached to a keychain. Once they transfer funds to their Dexit accounts, they would be able to pay for purchases at participating merchants simply by contact less tap and go' communication with the Dexit tag and an RFID reader located beside the till. With the Dexit tag each customer receives a username and a password which they can use to login to their Dexit accounts using the internet and check account balance and transaction details. They can also access their accounts by phone which will offer an interactive voice response system or a live customer service representative.
Product/service 2 Merchants will be provided with a retailer account, an RFID reader and a point-of-sale terminal. The RFID reader will read the consumer's Dexit tag when placed in close proximity without the need of contact as needed by the debit or credit cards meaning hassle-free fast transactions. They will be provided with a user name and a password to access their accounts via internet. Transaction settlements will be executed on a daily basis by electronically transferring the funds to the merchant's account.
Competitors:
Even though Dexit does not seem to be in direct competition with any one, their competitors include:
Debit and credit card providers.
Retailers that issued their own proprietary payment cards (Starbucks Coffee).
National retailers offering gift cards'.
The issues / Problem:
In order to construct a sound marketing plan, Persofsky needs to
Company:
Dexit Inc. is a privately owned company formed in Toronto in 2001. The company's goal is to provide customers with convenient and easy-to-use electronic payment system that would be an alternative cash for low-value transactions.
Product and service:
Product/service 1 On registration by filling a form at the Dexit enabled merchant locations, on the Dexit website, or by calling the Dexit call center, customers will receive a Dexit Radio Frequency Identification (RFID) tag that could be attached to a keychain. Once they transfer funds to their Dexit accounts, they would be able to pay for purchases at participating merchants simply by contact less tap and go' communication with the Dexit tag and an RFID reader located beside the till. With the Dexit tag each customer receives a username and a password which they can use to login to their Dexit accounts using the internet and check account balance and transaction details. They can also access their accounts by phone which will offer an interactive voice response system or a live customer service representative.
Product/service 2 Merchants will be provided with a retailer account, an RFID reader and a point-of-sale terminal. The RFID reader will read the consumer's Dexit tag when placed in close proximity without the need of contact as needed by the debit or credit cards meaning hassle-free fast transactions. They will be provided with a user name and a password to access their accounts via internet. Transaction settlements will be executed on a daily basis by electronically transferring the funds to the merchant's account.
Competitors:
Even though Dexit does not seem to be in direct competition with any one, their competitors include:
Debit and credit card providers.
Retailers that issued their own proprietary payment cards (Starbucks Coffee).
National retailers offering gift cards'.
The issues / Problem:
In order to construct a sound marketing plan, Persofsky needs to