Question

There are many cryptocurrencies in the world today. If apple made a cryptocurrency, how would it compete to the rest? What marketing strategy could they use?

Answer 1

Cryptocurrency: It is a new form of digital currency that uses encryption techniques to regulate the circulation and regulation of currency. Cryptocurrency is based on a decentralized operational structure so it operates independently without the central authorities.

If apple made a cryptocurrency then to compete in the market apple should follow some of the following strategies:

1. Social Media: Apple has a large fan base which can be used as a target audience as the prosperous customers. By using the social media handles of apple on Facebook, Twitter, and Instagram, etc. for the marketing of its cryptocurrency and can catch a large customer base in less time.

2. Do an airdrop: It is one of the popular marketing strategy used for capturing a larger market base as by giving free tokens of cryptocurrency to the people who have already invested in the cryptocurrency market or apple can choose to give some complimentary tokens of its cryptocurrency on purchase of other apple products. This is a promotional strategy that can be useful for capturing a large customer base. As it is associated with the name of apple and which will definitely create a hype in the market because of its brand value that will definitely work out as a good marketing strategy.

3. Unique design: As apple is already world-famous for the design and quality of its products. So, Apple should build a unique and attractive decision for its cryptocurrency so that it can influence a larger customer base and capture the market of bitcoin.

4. Organize conferences: Apple should invest a decent amount for organizing conferences for the marketing of its cryptocurrency by hiring celebrities or some influential speaker so that they can engage with a larger audience for the marketing of their cryptocurrency. By influencing a large customer base in the market apple can also become one of the leading brand of cryptocurrency.