Mobile Wallets & Consumer Behavior: Case Study & Presentation

This assignment provides an overview of consumer behavior in relation to mobile wallets, focusing on Apple's Passbook app and the potential for smartphones to replace traditional wallets. It identifies different consumer types (loyal, discount, and need-based) and discusses opinion leaders like IOS 6 and Google Wallets. The assignment also addresses major challenges to the diffusion of mobile wallets, such as security concerns related to credit card theft and the need for consumers to contact both service providers and credit card companies in case of phone loss or theft. The references cited highlight the importance of understanding consumer behavior and the impact of social media on brand communities. The case study presentation aims to overview the case, topic area and address the case questions.

CONSUMER
BEHAVIOUR

OVERVIEW
Who needs a wallet? I have a smartphone. This statement truly
justify the case as Apple is providing its Passbook app on its IOS
6 iPhones that delivers the possibilities for the individuals to get
rid of the burden of carrying wallets that to stuffed with their
credit cards, loyalty cards and discount vouchers. These all can
be found in the single app that claims you to carry your
smartphone and the app will provide you to pay for the services
or the goods you purchase.

1. Kind of consumers to constitute
for mobile wallets.
The different types of consumers who are likely to adopt the
innovators, early adopters, early majority, late majority and
laggards for mobile wallets are as follows:
Loyal consumers- These are those who are able to adopt a small
segment of consumer base and are valuable to the business and
are with the right company to do business with. These adopt the
mobile wallets and particularly uses the app for their benefits and
easy approaches.

Cont...
Discount consumers- These consumers are more difficult to
retain in maximising the return as they do not shop with a
particular brand or service, they go for services that attracts them.
They go for the products that are easily available and attracts
them(Goh, Heng and Lin, 2013).
Need-Based consumers- They utilise the wallet or adopt it to
fulfil their need and are running low in business and seek
discount or for their needs to be achieved effectively.

2 Opinion leaders for mobile wallets and be
reached by marketers
The opinion leaders for mobile leaders are IOS 6 and
Google Wallets that provide their app to consumers and
benefits them by providing services like online ticketing and
also carry their credit cards in it and discount vouchers as
well. They provide them with the facilities to store their
vouchers and airline boarding passes and pay for the
goods and services through this app.

3. Major causes of diffusion of mobile wallet
and how to overcome these.
The major causes for mobile diffusion is that these apps includes
the facilities to use credit cards and in case of loss and theft of the
card. The customer would need to connect to their banks in such
problems also if in this process phone is stolen then the consumer
would not only have to contact to the service provider but also to
call the credit card provider(Cantallops and Salvi, 2014). This is
the biggest challenge for Google and Apple to attract investors to
invest money and make effort in the digital wallet system.

REFERENCES
Cantallops, A. S. and Salvi, F., 2014. New consumer behavior: A review of
research on eWOM and hotels. International Journal of Hospitality
Management. 36. pp.41-51.
Claiborne, C. B. and Sirgy, M. J., 2015. Self-image congruence as a model of
consumer attitude formation and behavior: A conceptual review and guide
for future research. In Proceedings of the 1990 academy of marketing
science (AMS) annual conference (pp. 1-7). Springer, Cham.
Goh, K. Y., Heng, C. S. and Lin, Z., 2013. Social media brand community and
consumer behavior: Quantifying the relative impact of user-and marketer-
generated content. Information Systems Research. 24(1). pp.88-107.

Thank You