The nature of the business would start with purchases and tinkle down to petty cash purchases, pre paid purchases, and electronic purchases Exhibit 1. The actual products are the Dexit tags and Dexit terminals.
Robin Ritchie, Lalani Sohail, Sohail Lalani Dexit is a new electronic payment system that offers a convenient alternative to cash for small-value retail transactions. The chief executive officer is faced with some critical target market and marketing mix decisions as she prepares for launch.
The situation is complicated by the fact that Dexit a marketing opportunity essay is needed on two fronts: Dexit must not only recruit end consumers for the service, it also must convince merchants to install the payment terminals.
Because paying with cash is free, the company needs to persuade both groups that the added convenience of Dexit justifies a transaction fee. Although the concept appears to have good potential, recent test market failures of two similar offerings suggest that success is far from guaranteed.
Reinforces the importance of solid consumer analysis when selecting a target market, demonstrates the concept of value to the customer, and provides a basis for discussing push vs. Kotler explains - Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.
Market Potential Analysis of Dexit--A Marketing Opportunity Market potential analysis comprises evaluating the overall market size of the related product that the firm is planning to launch. Market potential of Dexit--A Marketing Opportunity products various on factors such as — Maturity of the market.
In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving.
New players have to go for market share strategies in marketing. Technological competence of the existing players and culture of innovation and development in the industry. Untapped market sizes and barriers to both enter the market and serving the customers.
Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers. Define the core need that your product is serving and list out all the direct and indirect competitors in the market place.
This will help not only in positioning of the product but also in defining or creating a segment better. Uncovering the current and untapped market sizes and barriers to serving the larger market.
Analyze the areas that you need to sort out while launching the products to wider market and what are the challenges the firm will face in market place.
Estimate the current stage in product life cycle and its implications for marketing decisions for the product. Identifying the market share drivers relevant to Dexit--A Marketing Opportunity market.
Segment Attractiveness Analysis — Our analysis will work out which are the most attractive segments and which are the one the firm should go ahead and target.
We point out in great detail which segments will be most lucrative for the company to enter. Understanding the different needs and relative value of your offering by segment. Developing segment priorities and positioning the product based on the product need fit developed by the firm. This will not only help in assessing the strengths and weaknesses of the competitors but also help in defining and positioning of the product.
Developing a positioning and launching strategy. It will require not only distribution channel analysis but also promotion mix for the product. By creating superior customer value, the organization can create highly satisfied customers who stay loyal and buy more.
This, in turn, means greater long-run returns for the firm. The crucial role of customer perceived value in acquiring and retaining profitable customers.Marketing Analysis of Dexit Inc. Print Reference this.
Published: 3rd October, Last Edited: 2nd October, Disclaimer: This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
Dexit has opportunity to establish itself in the largest market for digital transactions. Dexit — A Marketing Opportunity; Equal Employment Opportunity History and Laws; Barriers Can Limit Access to Opportunity; Recent Essays.
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Based on Radio Frequency Identifi. The case study discusses the marketing opportunity of Toronto-based Dexit Inc. for the new electronic payment system for retail transactions.
The CEO of the company, Renah Persofsky, faced two traditional questions of marketing strategy: the preferable target group and the choice of optimal strategy, “push” or “pull”. "Dexit A Marketing Opportunity" Essays and Research Papers Dexit A Marketing Opportunity Summary Dexit is a new electronic payment system that designs for low-value transactions.
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