Marketing Management Stock Cryptocurrency Assignment

Assignment Task

A stock exchange trader contacts you and explains that he is looking to enter the cryptocurrency market with his own product that is named F1. The coins currently have little to no value other than as a unit of exchange. Even though it is a new product it he claims that it would not stop consumers from buying it. He refers to similar cryptocurrencies that have entered the market in the past and have now experienced a recent surge in demand. Knowing your marketing background, your stock exchange trader thinks his cryptocurrency could see a similar surge in demand if you could help him introduce it to the market.

After careful consideration you agree to offer your advice. You tell him that you will get back to him after you thoroughly studied potential value propositions, in a report.

Determining and developing your value proposition

1. First, you are going to identify and outline 3 market segments that operate in this fragmented market. Make sure to document the i) geographics, ii) demographics, iii) psychographics, and iv) the segments’ behavioral patterns of these 3 market segments. Substantiate each of the segments that you have identified by referring to both a piece of qualitative data and a piece of quantitative data that you have come across during your market research

2. Next, you will target 1 segment toward which you will be directing your marketing efforts. Argue why you believe your resources are best spent targeting this market segment.

3. Write a positioning statement. Use the following format: “To [target segment and need] our [brand] is [concept] that [point of difference]. Explain the rationale behind your formulation. Refer to Maslow’s Hierarchy of Needs to explain on what need(s) you will focus.

4. a. Establish your communication objective. On which of the five levels of the Hierarchy of Effects will you be focusing? Explain why you believe this communication objective suits your product in this stage best

5. a. Which models of Marketing Communication fits your marketing communications strategy best and indicate the extent to which you, as marketer, have control over the impact of your marketing communication efforts. 

6. Which persuasion principle(s) will be at the core of your marketing communication? Why do you think this/these will be the most effective one(s) in persuading your target audience to buy your product? You could use more than one of the model’s Kotler mentions (Vidal and Woolfe’s model or Little’s model) regarding persuasion principles.

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