The paper “ Telstra Instant Cash Transfer Service“ is a worthy variant on case study on marketing. The use of mobile phones has been gaining popularity globally with Mobile phones becoming the most important communication tool globally, being the most common electronic device that people own. Whereas the global penetration rate is low, some countries have surpassed the 100 % penetration rate. Australia rates as one of the most connected nations, In Australia, the penetration rate has been increasing substantially in the last decade, with several studies such as Audit Bureau of Circulations (ABC) – Australia data suggesting that Mobile phone penetration is near-universal, and the average household has 2.9 mobile phones.
The data collaborates with findings published by other studies that state that the penetration rate has been growing substantially in the last decade and now stands at more than 100 percent. Subscribers have been using mobile phones for several purposes, such as voice communication, Short Message Service, internet access, and advancement leading to the merger of computing and mobile telecommunications as remarked by Brian, (1997). Advanced mobile phones currently offer all functionalities offered by personal computers. Current market situation Money transfer in AustraliaThere are several available money transfer services in Australia, the common types of money transfer services available used by most of the populace include wire transfer, bank draft, cheques, Internet money transfer, and money orders.
The services attempt to offer quick, safe and efficient international and domestic money transfer in order to swiftly provide funds to businesses and individuals. Some traditional money transfer methods such as the use of cheques have faced a myriad of challenges making the system unsuitable, in some cases, cheques clearance takes a lot of business time, some recipients may not be having a bank account or the cheque may not be accepted.
In Australia, Wire transfers are among the most frequently used money transfer services used to shift monies from one bank account to another bank account, the recipient's details such as recipient’ s bank or their wire transfer code are required in order to initiate and complete a wire transfer, making the option secure, but the method requires the sender and the recipient to have a bank account hence inappropriate for those without bank accounts and inflexible.
A bank draft is relatively flexible since it is cashable at any banking institution, it is mostly used for payments to multinational companies. A bank draft is issued by a bank or money transfer company and has enhanced security and audit trail features hence making the method the most preferable method by most companies and large institutions, the alternative is, however, more expensive than other money transfer alternatives. Internet money transfer services have augmented in popularity as security has improved, there are various online companies who offer Internet money transfer services, Castells, (2003), the services are flexible in that it is available to anybody with an email account, this is usually transacted through third party companies who provide online account set up.
The proliferation and development of scam money transfer services and presence of hackers have made Internet money transfer services to be untrustworthy, furthermore, not all persons are computer literate.
Al Ries & Laura Ries 2002, The 22 immutable laws of branding: how to build a product or service into a world-class brand, HarperBusiness, New York.
Alvin Silk, 2006, What is marketing?, Harvard Business Press, Harvard.
Brian, T., 1997. The Internet: online tools and resources. London: Oxford University Press.
Castells, M. 2003. The galaxy of the internet: reflections on the Internet, business, and society. London: Oxford University Press.
David A. Aaker, 2004, Brand portfolio strategy: creating relevance, differentiation, energy, leverage, and clarity, Simon and Schuster, New York.
Douglas B. Holt 2004, How brands become icons: the principles of cultural branding, Harvard Business Press, Harvard.
Gary Armstrong & Philip Kotler 2010, Marketing: An Introduction, Prentice Hall, New York.
Joan Schneider & Jeanne Yocum 2004, New Product Launch: 10 Proven Strategies, Stagnito Communications, Deerfield
Kumar N. Et Al. 2001, Marketing Management, Anmol Publications PVT. LTD, India
Mercer David 1996, Marketing, Wiley-Blackwell, Hoboken
Robert Gravlin Cooper 2001, Winning at new products: accelerating the process from idea to launch, Perseus, New York.
Sandhusen Richard 2000, Marketing, Barron's Educational Series, New York
Schumann, D.W., & Thorson, E. 2007. Internet advertising: theory and research. Michigan: Routledge.
Cisco Van Gelder 2003, Global brand strategy: unlocking brand potential across countries, cultures & markets, Kogan Page Publishers, London.
Wallace, M.P. 2001. The psychology of the Internet. Cambridge: Cambridge University Press. Cambridge.