Introduction
Technology has changed the way business is conducted today. Blockchain technology, artificial intelligence, virtual reality, and the internet of things, are all new technologies that create opportunities for established and new companies to grow. This case study will focus on the opportunity blockchain technology has provided for one start-up.
Blockchain technology is a tamper resistant system of recording financial information in a way that is distributed, impossible to change, and has no centralized authority (Yaga, Mell, Roby & Scarfone, 2019). A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems and forms a foundation for cryptocurrency. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. The decentralized database managed by multiple participants is known as Distributed Ledger Technology (DLT). Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash.
Company Background
ABC, Inc. is a new startup company that has utilized blockchain technology to build an automated platform that issues municipal bonds in micro-denominations on behalf of municipalities and local governments; these micro-bonds can be sold directly to the communities in which these municipalities operate. The vision of ABC, Inc. is to democratize the process in which individuals invest in bonds, so they can collectively make a large impact on their communities. ABC, Inc. helps cities thrive by enabling passionate, connected citizens to contribute to positive change; in many cases, this includes citizens that otherwise would not be able to afford participation in the bond market. By enabling micro-denominations of bonds to be sold, these investments become more readily available to the broader population.
ABC, Inc. aims to use blockchain supported micro-bond investments to fund the revitalization of infrastructure, bring people together, and foster more collaborative relationships between cities and their residents. The company believes that cities will become more resilient by providing a broader group of residents with the opportunity to participate in the public financing of local projects.
Problem Statement
The city of Detroit has expressed an interest in the service platform ABC Inc offers and would like to experiment with a small pilot project as a starting point. The small project focuses on the renovation of several local bridges. The city of Detroit will utilize the ABC Inc. platform to help fund the project, selling municipal micro-bonds to the residents of Detroit. In order to succeed in funding this project, the city of Detroit will rely on ABC Inc. to promote their platform to local residents and encourage their participation in funding the city’s project.
Case Activity
ABC Inc. has hired your team for marketing expertise to promote their service to the citizens of Detroit. The ability to engage citizens in the process is critical to showing the city of Detroit that this platform can be leveraged in larger bond offerings. In order to demonstrate the benefit of the platform and the impact their investment can make on the community, ABC Inc. must successfully market and build trust in the community – connecting to the future opportunities this partnership could bring to the children, society, and overall city of Detroit.
For this activity, prepare a recorded professional slide presentation for ABC Inc. executives that demonstrates that you and your team can meet their marketing needs and promote their services to the citizens of Detroit. Your presentation must not be shorter than 5 minutes nor longer than 10 minutes, and will include a visual tool (PowerPoint, Prezi, Canva, etc.).
Your presentation should:
- Present an analysis of the market and identify the Target Audience
- Present market research conducted to understand the characteristics and needs of the residents of Detroit.
- Present a segmentation strategy to identify the most viable target audience for ABC Inc.'s micro-bond platform.
- Recommend a positioning strategy for the platform based on the identified target audience and their needs.
- Present a comprehensive marketing plan that outlines the tactics and strategies your team would use to promote ABC Inc.’s platform to the residents of Detroit.
- Identify the appropriate marketing channels (e.g. social media, email marketing, local events) and messages that will resonate with the target audience.
- Identify additional opportunities for ABC Inc. to leverage their platform to fund other projects in Detroit and recommend strategies for expanding their reach.