Identify and outline market segments

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Reference no: EM133527369

Question: A stock exchange trader contacts you and explains that he is looking to enter the cryptocurrency market with his own product that is named B1. 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 4 market segments that operate in this fragmented market. Make sure to document the i) geographics, ii) demographics, iii) psychographics, and iv) behavioral 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. 200 words max. per market segment, excluding data; 750 words max. in total, excluding data

Reference no: EM133527369

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