Premium Essay

Swot Octopus

In: Business and Management

Submitted By crazywoo
Words 1024
Pages 5
Strength

Coin Free and Small amount strategy
Octopus strategic advantage has been its focus on being a coin-free payment system with small amount. It offers users an easy and convenient way to travel and shop around Hong Kong by having a built-in microchip it the card, which stores money electronically and has other applications. User can put their octopus cards over an Octopus reader, which will automatically deduct the correct amount from the card. The user would no longer need to carry coins. The Octopus card can be widely used in various organizations, such as public transport, parking, retail, government recreational facilities.

Strategic Partnerships
Octopus has strategic partnerships with Transport companies, fast food chain restaurant, and retail outlets. Octopus helps service providers and business partners like retailers provide various loyalty programmes in which cardholders can collect reward points every time when they use their cards and then redeem gifts or enjoy discounted services. Through loyalty programmes, Octopus can help their partners provide better value to customers, increase awareness and product sales. The most notable partnership is MTR, for example, from 1 September to 30 November 2013, you can redeem 50% discounted price to Lok Ma Chau station with Octopus at the customer service centers of designated MTR stations before entering the gate.

Weakness

Limited usage
According to Octopus condition, cardholder can add value to Octopus with cash up to a maximum of HK$1,000 at designated Octopus service providers like Circle K and 7-Eleven convenient stores. This will limit the type of transaction can be done with the Octopus card.

Security concerns
Octopus card does not have password or pin number protection. Once you lost it, anyone can use it without your permission.

Data Privacy
Investigation found that Octopus...

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