Blockchain Assignment Business & Marketing Term Paper (Term Paper Sample)
Blockchain Assignment:
A webinar on Blockchain Technology and how it can influence marketing is available here: http://www.msi.org/video/how-blockchain-technology-changes-marketing/
I would recommend viewing the entire thing to gain a better understanding of the technology, but the marketing implications begin at time 26:33.
1. Briefly, what is blockchain technology?
2. What are some of the main implications for marketers – why should marketers care about the development of blockchain technology? What fields will be revolutionized?
3. Blockchain technology and consumer behavior: Select three specific potential consequence of blockchain technology for marketers and explain how the technology will lead to changes with reference some of the concepts we have discussed in class. For example, blockchain technology will allow companies to “prove” that their supply chain is what they say it is (increasing trust). Blockchain technology will also allow consumers to be more in control of the ad material they view (enhancing attention). Basically, pick three potential consequence of blockchain technology for marketers/consumers and explain how it “works” in consumer behavior terms.
4. Strategic recommendations: Identify several firms that you think will be influenced by the potential consequence you discussed in section 3. Knowing what you know about consumer behavior, what advice would you give these firms about how to effectively leverage blockchain technology?
Blockchain Technology
Student’s Name
Institutional Affiliation
Blockchain Technology
Over the last two decades, technological advancements have transformed the field of marketing slowly, but steadily. E-commerce and its associated technologies have given increased control over their interactions to the customers. Consequently, brands must adapt, or they become obsolete, and the major problem for both customers and brands is security. Data breaches have become a common phenomenon, and potentially harmful people access customer data. For marketers, this makes things more complicated: building trust with potential customers is not an easy task, and coupling it with data security matters makes it even worse. As such, marketers need a solution to such challenges, and blockchain encryptions become handy. Blockchain technology brings about various implications for both marketers and consumers.
What is Blockchain Technology?
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