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:

o Ubiquity : With forecast billion mobile devices in use by 2007, the 'anytime anywhere' advatages of mobile services are very apparent

o Immediacy : Information can be accessed, delivered and acted upon in real time by the user without the start-up time required for a desktop PC

o Personalization : Mobiles are now personal accessories, capable of holding data and enabling access to information and services which can be tailored to the needs of the individual

o Localization : Recognising where the user is located and matching information or services to that location adds a unique value to mobile services

o Convergence : Thechnological capabilities that can be deployed on the move are rapidly blurring the distinction between mobile phones and PCs. Ongoing advances in sophistication, functionality and personalisation will continue to sustain handset renewal

Inhibitors:

o Design and potable size(Display,resolution,memory.os) o Usability(Input/output device) ㅇCapability(speed),multi task)and interface with another product

Paradigms:

People to communication and entertain something to spend a lot of time to use mobile phone anywhere and anytime grows rapidly

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