Apple Watch And Apple Pay

​Wrist Wearables are a fairly new market segment and they are mostly only marketed to a niche audience. With less than half the U.S. population with any knowledge of the existence of smart wearables and half of that population even considering buying one, the marketability for this technology appears slim. Although, the potential for brand awareness, along with customer loyalty, is huge and a beneficial opportunity for any company to get their hands on.

Fitbit taking the first mover advantage in the fitness wearable device market, creating and capturing the market was easy for them then Apple. Fitbit always focused on fitness as its interim factor, but Apple on the other hand considered it as a fashion product and never created an ecosystem for daily users like Fitbit. Apple majorly focused on adding more features and design, but for Fitbit it has been just technology. Pricing strategy also played a major role in Fitbit success. They also recognized that wireless and sensor technology was good enough to leverage their product. They waited for a long time and once when the wireless and sensor technology took charge in the market, that was the time when they decided to launch their product.

In January 2014, SmoothPay was first launched in Toronto, Ontario offering mobile payments with integrated functions such as customizable loyalty programs and solutions. In addition, this company’s network has reached over 5,000 users and 100 merchants in their well connected partnerships and community in less than two years. Despite this achievement, only a low percentage of consumers are using their smartphones to make their daily purchases across Canada creating difficulty in further promoting SmoothPay’s business. However, SmoothPay has focused in highly populated areas, such as universities. Therefore, this strategic decision has increased some brand awareness. Since this product lets consumers to easily connect with their payment accounts, such as Visa, MasterCard, and PayPal, many have

Apple Inc. has hardware and software products which provide omnichannel devices for other retailers. Apple Inc (2015) shows that the company developed Apple pay which allows

The guts of a watch are the source of its existence without them the watch cannot function. There are multiple differences in what goes into a watch. Some watches can be made from expensive things like diamonds or emeralds while others are just made of different stainless steels. For example, regular watches are made of tiny gears placed on top of each other in a watch shell made of plastic or some type of metal. Smart watches on the other hand are made up like computers because they use circuit boards, processors, rechargeable batteries, and other small components. Not only are watches made up of that but they also use some different bands that also have hundreds of different forms from wood, to metal, and nylon which means you can accessorize as much as you like.

there is a new world alongside this of mobile payments. Apple pay and Android pay are

Major companies from Reebok to Adidas to Apple jumped into the game with the smart watch. Wearable technology has caught on quickly with regular athletes; the Fitbit adorns the wrist of people as prevalently as Lance Armstrong’s live strong bracelets once did.

Source: Carly Page (2015). Apple Watch isn't revolutionary, but will revolutionize the wearable market. [ONLINE] Available at: http://www.theinquirer.net/inquirer/feature/2398944/apple-watch-isnt-revolutionary-but-will-revolutionise-the-wearables-market. [Last Accessed 14th April]

The potential benefits of the new Apple Pay system are increased security, through the tokenization of the information through the NFC chip, which we will cover in a later section. Also, there is certainly higher perceived ease of use and convenience. Apple Pay supports credit and debit cards from the three major payment networks, American Express, MasterCard and Visa, issued by the most popular banks including Bank of America, Capital One

The launch of the Apple Watch fits a similar mold. The concept of the “smartwatch” had existed long before Apple introduced it, from the very early forays of wearable manufacturers Fitbit and Pebble, to later Android Wear products like the Samsung Gear and the Motorola 360.

Zobisch group was the first company to introduce a digital pocket watch that integrated the functions of today’s modern technology. At firs the product was ignored however, shortly after its release the product became the hottest technology gadget. The issue is that because the product is considered a fad the company knows that eventually a new product will replace it in today’s market. Since the company did not influence the consumers’ attitudes and buying behavior they are looking at ways that

Apple and Samsung have both relied on their operating systems optimized specifically for smartwatches (Sawh, Samsung Gear S3 vs Apple Watch Series 2 , 2017). Apple Watch Series 2 runs on watch OS 3, but currently has been upgraded to watch OS 4 (Sawh, Samsung Gear S3 vs Apple Watch Series 2 , 2017). With the new software update, Apple is bringing in some new watch faces, this serves up information about your day, upcoming calendar events, weather updates, traffic alerts (Stables, 2017). There has been a lot of new features and improvements added and new apps like the Emergency SOS app (Sawh,

It is neat when you purchase a product or support a company that has yet to be discovered by the mainstream. I enjoy not being a trend follower when it comes to clothing. I am very keen on the technology industry where being an early adopter is exciting supporting and having new technology. I was one of the first persons I knew that got an apple watch when it was released in 2015. I decided to make the purchase when it was first available for order because I am an avid apple fan and their whole ecosystem. Apple has a certain presence when releasing a new product of making it more of a show instead of a product unveiling and demonstration. When Steve Job first unveiled the iPhone in 2007 he wanted to create a product that incorporated multiple devices into one solving many problems consumers had aka problem recognition. The iPhone was a

introduced a mobile credit card reader and mobile wallet, PayPal did not hesitate to imitate its

PayPal – “In the U.S., PayPal has emerged as a dominant player for online and mobile payments, PayPal has 117 million active registered users across 190 markets” (Gupta, 2013). Accepting PayPal as a means of payment will mean convenience for a good percentage of the target audience.