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The Pay By Phone System Marketing Research,Come Up With A Product And A Market Research On It To See If It Should Go On The Market. Executive Summary Objective & Methodology Detailed Findings Conclusion & Recommendation Bibliography Appendix

3118 words - 12 pages

The Pay-By-Phone SystemTable of ContentExecutive Summary p.3Objectives p.3Methodology p.5Detailed Findings p.5Conclusions p.13Recommendations p.13Bibliography p.14Appendix p.15Executive Summary40 completed questionnaires were collected from young adults and adults aged 18-to-50 in Montreal, Quebec. Respondents who own a Smartphone and who for the most part purchases snacks from vending machines. This survey was a printable handout questionnaire, provided only in English. The respondents were all asked to complete the questionnaire during their leisure time. The objectives of the Project were to determine not only if adults aged 18-to-50 would likely use their Smartphone's to purchase at vending machines that operate with a mobile payment scan but also if this new system would help to boost sales and create ROI to Andree Labée. Also, it was considered essential to discover how relevant the attitude and adoption of mobile-only payments at vending machines by demographics.First of all, the majority of the target market purchases from a vending machine once a month, while the second highest is once a week. 85% of the respondents are most likely to be caught without change, and when they do 28% of them don't buy at all, while the rest asks a friend for a change. Additionally, 86% of the respondents who have a credit card, don't use them to purchase at a vending machine, and 72% of the respondents are unaware that they can use their Smartphone to make purchases of any kind. This indicates that the consumers will be highly unlikely to purchase at a vending machine with their Smartphone because their credit cards will be billed if they do use their Smartphones and since they don't use their credit cards for the purchases it will make it unlikely that they will use their Smartphones too. But, since we know that the demographics are mostly males, completed university and have a professional or managerial employment, they might be persuaded with the right promotion and awareness of the purchasing from a vending machine with a Smartphone.Research ObjectivesAndre Labbée wants to know if consumers will see this new system, of using a smartphone to make purchases at a vending machine operating with a mobile payment scan as the only method of payment, as more convenient and increases total purchases made at their coffee and vending machines, while at the same time lowering their overhead. On the other hand, more information is necessary prior to start spending money and other resources on advertising and/or changes to the vending machines.The target markets for the smartphone payment method at vending machines are both males and females, between the ages of 18 to 50, located in the greater Montreal. While their occupation and level of education is not significant. It would be helpful to know:To discover whether or not this new system could become popular.Whether success would help to boost sales and create ROI.Discover if the smartphone is an...

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