Willingness to pay for information
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Willingness to pay for information
Description:
For the providers of the location based service it is important to know which
are the valuable features of such service and how much are the users willing to
pay for them. The price for the service can then be set in a relation to the value of this service to the user.
We argue that the value of LBS to the users is in information provided by
this service. This information is valuable to the users only if it contributes to the improvement of a decision-making process which can be observed in
faster and better decisions, or in a lower risk of taking a wrong decision. [1]
Enablers:
- Existence of affordable LBS applications and services
- Initiation of new LBS projects (like Galileo)
- Presence based services
- Wiling to pay for Safety and Security issues
- Power of Information-anywhere, everywhere, social driving force: Why do people want Information anywhere, everywhere?
- Need for Information On Demand
- Increasing Mobility
Inhibitors:
- People's thought of paying for giving up privacy
- Purchase of expensive applications / service subscriptions
- Old fashioned minded people
Experts:
Support from LGE, SSE, NOKIA
Timing:
Since last 4 years,camera phone launched Convergence phone Mega trend
Web Resources:
[1] Alenka Krek, Economic benefit of using Location Based Service