Mobile innovations as embodied in mobile wallets, payments, marketing, shopping and loyalty are redefining global business. This ecosystem of mobile commerce elements is at the heart of a revolution that is fundamentally changing how retailers and consumer engage with one another while online, in-store and via social media.
Unfortunately, very few truly understand this evolving mobile commerce model. The massive volume of information and the rapid pace of change are making it difficult for even the most astute companies to stay on top of it all. Those who understand it, however, are designing, developing and implementing the innovations that will change consumer and retailer interactions forever. Those who don’t understand it…. well…. let’s just say that they will find the future challenging.
Are you prepared for the mobile commerce revolution? Take this test and see:
- Name and describe the three mobile wallet models and the five mobile payment models currently being deployed. (hint: Proximity-based mobile payments is one of the five.)
- Name the four sub-models of proximity-based mobile payments, the various stakeholders and the transaction flows associated therewith. (Explain where mobile wallets fit and why.)
- Explain the thirteen proximity-based payment presentation techniques and the implications to retailer operations and consumer behaviors.
- Explain the implications of each proximity-based payment model on mobile marketing, shopping, loyalty/rewards, service, etc.
- Name the three mobile marketing models. (hint: The Offers model is one.) Explain how each model applies or doesn’t apply to mobile wallets.
- Name and explain the three marketing sub-models within the Offers model. (hint: Open-loop is one.) Explain how they are influenced by each of the three mobile wallet models.
- Explain how the acquisition, storage and redemption of promotional offers operate within each of the Offer model’s sub-models.
- Name the nine different mobile coupon/offer redemption models. (hint: Card-linked offers is one.) Explain how they are influenced by online, in-store and social interactions.
- Name and explain the five mobile marketing extensions/features that enhance the value of mobile coupons/promotions/offers.
- Explain how the mobile commerce model differs by industry: e.g. fashion & apparel, grocery, drug & convenience, food & beverage, lawn & garden and general merchandise.
If you would have liked to have done better, perhaps you may want to seek additional education. We can help you with that. See our Mobile Commerce Education Resource Kit (mCERK) product page for more information.