SmoothPay Management Team Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

SmoothPay Management Team Case Study Solution

Introduction:

Smoothpay offers public a mere gateway to make the payments and enter a forum where retailers are more close to their customers than ever. Also, customers are offered rewards and discounts for signing up and making payments through Smoothpay; these can be redeemed in future payments. The company provides a unique service where not just the customers but also the retailers benefit themselves through entering into an active network of multiple merchants.

Everyone loves discounts but likes free cash even more, and that is one key factor how Smoothpay found its way to the smartphone users by offering $5 free credit on each sign-up. However, the lack of trust on payment through a mobile app and conservative approach of other market operators have created a hinder for smooth play in providing a single forum in the market.

Summarize the Facts:

Being a newborn, Smoothpay has proved to be a successful and stable organization, capturing around 100 merchants and 5000 consumers in just one year time. It is possibly the result of adopting the updated technology of QR codes and partnering with Point-Of-Sales companies like NCR and Touch Bistro.Merchants are given free access to the Smoothpay app, which can be integrated with their POS systems or can work solely.

Smoothpay helps setting up an integration of Smoothpay App with merchant’s current POS system if it is not limited by hosting POS, which can assist them to keep tracks of their customer’s purchasing habits.

The White label loyalty application is offered to retailers and merchants if they wish to use a customized application, which can better suit their needs and help them entertain their customers more efficiently.

Smoothpay has smartly targeted the quick service restaurants and cafes which are focused on customer’s experience. According to the data provided 20% revenue of these targeted businesses is equal to CA$7.4 billion and Smoothpay’s market share of this figure is 6% or CA$440 million. 20% benchmark was given in the most recent publish of Starbucks.

University Students are an integral part of Smoothpay’s engagement with the community and its majority clients. And therefore are significant to maintain. It is important for Smoothpay to keep a strong bond with these students so that it can grow itself through into their connections. It seems that Smoothpay is currently involved with the university for providing academic and professional experience.

1) Advertisement Agencies:

Smoothpay has been using cost effective market strategies for its development. These strategies affect targeted market in odd ways, and leave temporary marks on small number of community like the one where ambassador paid the bill of full line of customers waiting in the line for coffee, these plots are no doubt innovative, but are not so effective as it only covers a small portion of public and take unreasonably long time for the message to spread among public. What Smoothpay need is a real advertisement that can be offered by advertisement agencies.

Advantage:

The advertisement has always proven useful for every type of business. No matter what you sell, people cannot buy what they do not know.
The advertisement may make smooth pay's existing customers aware of more options which they may not know.
Smoothpay can control the usage of the options in the application by highlighting the key points or opportunities which it wants to be used more by its customers.

Disadvantages:

More advertisement means more expenses and less profits.
The advertisement may not be very effective if it is not focused on the target market.
Advertisement campaigns may take time longer than expected to affect the market.

2) Market Research:

Marketing methods by Smoothpay have given no prominent results. There must be reasons behind ineffectiveness of market methodology these may be targeting wrong markets, choosing wrong delivery tools etc. In order to increase the efficiency of marketing methods, Smoothpay must first dig out these reasons by analyzing the market or conducting marketing research..........................

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