Willingness to pay for information
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
Paradigms:
The rise of companies bringing LBS services or application on the market is high. Consumers talking about these big companies talk about their products and services, and create some kind of 'buzz'. Most people want to see the advantage of LBS, and especially the early majority wants to be part of this rage.
Experts:
Timing:
Early, positioning by looking to stars, compass
20th century, radio navigation systems
1957, launch of sputnik for navigation
In 1978 the first operational GPS satellite was launched.
1980's, Europe identified the political and economic benefit for an European-owned Satellite navigation system.
In 2002, the European Union (EU) and European Space Agency (ESA) set up a joint public body called Galileo Joint Undertaking
[2]
Web Resources:
[1] Alenka Krek, Economic benefit of using Location Based Service
[2] History of GPS