Recycle and Get Cash Through ecoATM

The ecoATM, as shown in this article, is an interesting and innovative idea. The company has identified the current market of cell phones increasing and wondered the question: what happens to the old phone or mp3 players(since most smartphones currently contain one)?  It captures an interesting angle of consumer wants. Instead of focusing on the consumer spending money, it focuses on the consumer getting money, instantly. Instead of keeping old technology sitting around the house, or throwing it away, people are presented with an eco-friendly convenient option. Furthermore, ecoATM is only a facilitator, doing the tedious work for the consumer by automatically assessing the quality and putting it in an electronic auction. This avoids the problem of ecoATM having an inventory of used phones-it avoids the hassle. However, ecoATM faces some competition through markets such as Ebay and Craiglist, as some consumers although they like the concept and easy accessibility, there have been concerns about the low price offers. (http://www.usatoday.com/story/news/nation/2012/10/07/phone-atms-cash-devices/1578487/)  Overall, the concept is very pleasing towards consumers but the low prices are turning consumers away. Perhaps an adjusting the scanning technology by adding in a comparison can assist in providing a more competitive price.