A friend of yours is calling you. He tells you about his own cryptocurrency he has created.

The coins have little to no value other than as a unit of exchange. That would not stop

consumers from buying it, argues your friend, as he refers to similar cryptocurrencies that

have experienced a recent surge in demand. The friend thinks his cryptocurrency could

see a similar surge in demand if you could help him introduce it to the market. You agree

to help him out. You tell your friend that you will get back to him after you thoroughly

studies potential value propositions.

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) psychographics, ii)

demographics, iii) geographics, and iv) the segments’ behavioral patterns of these 3

market segments.

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.

b. Additionally, what kind of promotional efforts will you be deploying in order to

meet your communication objective? Explain your pick.

c. Do these promotional efforts qualify as push marketing or pull marketing?

5.

a. Which of the three models of Marketing Communication fits your marketing

communications strategy best: one=to-many, one-to-one, or many-to-many?

b. Additionally, indicate the extent to which you, as marketer, have control over the

impact of your marketing communication efforts.

i. If you think you have little control over the impact of your efforts, explain why this

does not necessarily have to be a problem. ii. Alternatively, if you think you have

much control over the impact of your efforts, explain what a potential downside could be.

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 Cialdini’s persuasion principles.