KICKSTARTER

MARKETING & COMMUNICATIONS

[DATE]
[COMPANY NAME]
[Company address]
Marketing: determining and developing your value proposition
1. First, have a thorough look at the product or service’s project page on Kickstarter. At
which level of Maslow’s Hierarchy of Needs do you think the creators specified the need
they want to satisfy for buyers of this product or service? Explain your answer by referring
to quotes or images on the project page. (250 words)
According to scientific research, the most fundamental drive in all living things is a need for
companionship, social acceptance, and compassion. Everything else rests on this. The sense of
being loved and cared for is the most important thing for a newborn to experience. All living
things need tactile stimulation, including animals. Happiness is the state of having that desire met
and experiencing that emotion. When this happens, it's because your dog is happy to see you and
wants to greet you. The second is the need for reassurance, which includes the demand for
security, reliability, and peace of mind. The third kind is the incessant need for novelty and
stimulation. And last, we have the desire to be unique and appreciated as the fourth factor.
Expanding and improving is the fifth kind of development that is necessary. Additionally, the
sixth lesson is the need of helping others beyond one's own means. Even if one has everything on
Maslow's and Robins's first point, like health, employment, resources, and morality, alone with
that will come no certainty, because that all can change quickly, it's all external to body and
mind, the feeling of certainty is internal to the person. This list is based on Maslow's 'hierarchy
of needs,' and Tony Robins's'six human needs,' but has undergone a major revision due to new
scientific research showing that That's what true joy feels like, and it's what everyone seeks.
Wherever there is danger, bravery must rise. "An individual approached the Buddha and stated,
"I want Happiness." According to Buddha, one must first get rid of "I," which stands for ego, and
then "want," which stands for desire. What's left is only happiness, you see "

2. Based on their project page on Kickstarter, who do you think is their primary target
audience? Make sure to describe the i) psychographics, ii) demographics, iii) geographics,
and iv)the behavioral patterns of this target audience. (300 words)
As a marketing tool, market segmentation helps companies home in on their strengths and
address their weaknesses. By segmenting the market, businesses may reach a more diverse group
of consumers and tailor their efforts to the people who will get the most use out of them.
a) Psychographics
 Organizations use psychographic segments to draw conclusions about their clientele in
terms of their demographics, preferences, and attitudes. Someone who spends a lot of
time outdoors, engaging in activities like climbing, walking, and skiing, is more likely to
buy camping equipment than someone who has spent more time inside reading about the
best tents, boats, and ski boots. Much of this knowledge is gleaned through progressing
through reports or other data that offers the company a more in-depth understanding of
the buyer's processes and requirements for more successfully focusing on their specific
claims to fame.
b) Demographic
Fragmenting markets via economics is a common strategy. Groups who provide these
services often categorize their customers based on demographic variables such as age,
gender, family composition, religion, personality type, profession, and level of education.
These are also crucial methods for businesses to use in order to determine what their
potential customers value most, and to adjust their operations accordingly. An annuity
plan's expansion to include more retirees might be an indicator of market segmentation.
c) Geographic
Geographical information about customers is often crucial in facilitating the proper
assembly (and shockingly critical). Land market segmentation refers to the geographic
area where the target customers make the most sense to be located. More and more
people, places, and languages are being added to each scenario to better serve the needs
of the customers. Promoting to an audience that speaks Spanish, for instance, will need a
different strategy than that used to reach an audience that reads English. Furthermore,
unlike businesses in warmer climates, which will have the chance to use less of their
product, those operating in colder climates will have a better idea of where their
customers are.
d) Behavioral
As its name implies, social market segmentation division considers how often buyers
interact with or think about products. Examples of such preferences include consumers'
sensitivity to changes in price, use, or activity levels. On top of that, direct is something
that calls for motivation, dedication, and a way of life. Even now, the consistency
 improvement is often used throughout the christmas season and other times of year when
the usage fluctuates significantly.

3. Collect data about this (and/or similar) product(s) online. These could be quantitative or
qualitative data points. Based on what you find, reflect on whether or not you think the
product creators are doing a good job in trying to satisfy the needs of this target audience.
In other words, do you think that this product/service can satisfy the needs of the target
audience you described above? In answering this question, refer to the information that
you find online. (300 words)
Marketing communication is meant to enlighten, educate, persuade, and help people remember
your topic or company. An improvement has to be compatible with other advertising tools and
company components to be really effective. It's important that the distribution be inconvenient,
so that people will put down their newspapers and stop thinking about their day long enough to
read or hear about the development. The innovation must be trustworthy, distinctive, and
fundamental to the performance. It has to be based on the same strengths that underpin any kind
of assistance, such as the strengths of the movement itself. Standard media exposure (such Mill
operator Lite's "less filling/more taste" innovation), for instance, acts as a force to generate word-
of-mouth publicity and increased sales. More information about an effective development is
spread by word of mouth than through any amount of sponsored media marketing. After the
surge in popularity of NFT art collections, the data suggests that artists and illustrators do well in
today's market.
4. Finally, have a look at what competitors are doing. Identify three competitors. How does
the product or service that you identified on Kickstarter differ from its competitors?
Answer this question by writing a concise positioning statement. Use the following format:
“To [target segment and need] our [brand] is [concept] that [point of difference]. After
that, explain the rationale behind your formulation. (150 words excluding positioning
statement)
Bitcoin, blockchain, initial coin commitments, ether, and exchanges were all mentioned in the
article provided by https://www.toptal.com/. You've probably noticed that the media, internet
chats, and maybe even your nightly get-togethers are all abuzz with talk about digital money
forms (and its near language). Despite the advertising, many individuals still fail to grasp the full
significance of these concepts. Maybe we could add a Stephen Colbert-style comparison down
here, but we'd rather be clear.
A segment of three markets
Experts in the field and a widely read article published on https://www.toptal.com/ suggest that
"Money on personal computers will not be backed by any central authority. There's a rise of a
secret pluralism." While the majority of digital currency is held in bitcoin and Ethereum, recent
years have witnessed a dramatic shift and the rapid development of many new innovations.
Ether and Ethereum
The cryptocurrency Ether and the monetary ideas it represents have gained increasing attention
alongside the Ethereum network. It has a market valuation of almost $28 billion as of August
2017. Experts predicted that Ether's market valuation will eventually surpass Bitcoin's. However,
Ethereum's development problems have now led to a drop in value. The Ethereum network has
seen its share of vulnerabilities. Just as Bitcoin did in the middle of January 2018, the price of
Ethereum rapidly plunged from about $1,400 to around $1,000. In spite of the fact that the terms
are often used interchangeably, Ethereum is a platform that makes it very simple to create great
arrangements, and Ether is a "token" that can be exchanged for goods and services on the
Ethereum network's decentralized exchange. Essentially, clever arrangements are computer
programs that can carry out the terms of an agreement in this manner.
Different areas for well-known work of art
1. Litecoin: Litecoin, like Bitcoin, is a cryptocurrency that was released in 2011 and is
characterized by its ease of use, its decentralization, and the security provided by
cryptography. To be the "silver to Bitcoin's gold," an equivalent venture to Bitcoin was
expected. Litecoin's block generation time and confirmation of trades are both much
lower.
2. Dash: After its first release in 2014 under the name "Darkcoin," the cryptocurrency
exchange platform Dash rebranded and began providing its customers with enhanced
anonymity thanks to its distributed master code network. Unlike Bitcoin, it uses a
"Masternode" network that has a more solid foundation.
3. Zcash: Zcash, a cryptocurrency launched in October 2016, is a complete newcomer to the
market. However, due to their work with zero data SNARKS, which does not include any
trading records, it has been claimed that this is the first totally anonymous cryptocurrency
 at the current time. This is what the technology guarantees; whether or not all the data is
encoded, it works now; and, yes, the cost is incredible.

Communication: communicating your value proposition

Question 5.
a. Establish what you(!) think should be the creator’s communication objective. On
which of the five levels of the Hierarchy of Effects (note: this is different from
Maslow’s Hierarchy of Needs) should they be focusing? Explain why you believe
this communication objective suits their product in this stage best. Bonus: if you can
find any of their communication efforts (for example, on social media), explain
whether (or not) their actual communication objective corresponds with what you
think would work best. (250 words for regular part (excluding bonus question);
additional 250 words for bonus part)
The goal of my message is to spread awareness. To bring anything to light in order to
demonstrate its presence, its worth, or any accompanying changes is to create awareness.
This is a common goal in marketing campaigns for both new products and updated
versions that need to draw attention to their enhanced qualities. Companies that have left
the market but yet want to be remembered often set this as one of their goals.
My communication goal falls inside the cognitive level of the hierarchy of consequences.
My new product is well suited to this phase of the market because, with the help of my
awareness-raising efforts, potential customers will become aware of its existence and be
compelled to give it a try. Customers will seek it out and give it a go because of the
increased interest generated by advertising. With more people knowing about the
product's existence, more people would want to purchase it, which will boost my sales
and income. People are most receptive to trying out a new product at the cognitive stage
of the product life cycle since they have just become aware of the product and want to
buy it.
b. If you were in the position of the creator of the product/service, what kind of
promotional efforts would you deploy in order to meet the communication objective
that you advocated for above? Explain your pick. (150 words)
Assuming the goal of the communication is to raise brand awareness, a combination of
paid, earned, and owned media will be used in the marketing campaign. Advertisements
on television, radio, the Internet, and newspapers are all examples of sponsored media.
Earned media would consist of things like press coverage, blog mentions, and favorable
feedback from customers. Company-owned media would consist of resources such as the
company's website, social media profiles, and email list.
All three of these mediums have their advantages and disadvantages, thus a balanced
promotional strategy will likely use all three. Although paid media is effective in
reaching a wide audience rapidly, it sometimes comes at a high cost and may leave
viewers with a negative impression of your business. There's no cost to use earned media,
and it has the potential to be very successful, but it's not always straightforward to get and
may be tricky to manage. It takes time and work to build up a sizable following on owned
media, but in the long run, it's cheaper than paid advertising and easier to manage than
earned media.
Paid, earned, and owned media will be used in different proportions based on budget
constraints and desired outcomes. In most cases, however, it takes a combination of all
three to really boost brand recognition.
c. Do the promotional efforts that you described above qualify as push marketing or
pull marketing? Explain your answer. (150 words)
In this case, the Art and Illustration is a form of digital or virtual currency in need of
promotion in the form of advertising and promotion, such as creating buzz through word
of mouth, educating potential customers about your offerings at trade shows, and
publicizing sales and discounts to encourage customers to seek out your products; this
type of advertising and promotion is an example of "Pull Marke." The networking
industry is a perfect candidate for this kind of advertising since so many individuals
engage in it by advertising their earnings online. Unlike traditional "push" advertising,
this method of promoting a company's wares relies on direct interaction between the
product and the buyer in the form of a hands-on demonstration.
 In contrast to "push" marketing, which relies on a physical demonstration of the goods in
order to persuade customers to buy, "pull" marketing relies on word-of-mouth and other
forms of digital word-of-mouth to sell bitcoin.

6. Have a look at the Kickstarter project again. Which of Cialdini’s persuasion principle(s)
should, in your opinion, be at the core of their marketing communications? Why do you
think this/these will be the most effective one(s) in persuading their target audience to buy
the product or service? You could (but don’t have to) use more than one of Cialdini’s
persuasion principles. (250 words max. per persuasion principle)

I believe that the principle of commitment and consistency outlined by Cialdini will serve as the
foundation of my marketing communications strategy. This theory rests on the premise that
individuals are more inclined to behave in a manner that is consistent with their prior behaviors,
thus I believe it will be the most successful in convincing my target audience to purchase my
goods. I have found that reminding a customer that they have purchased from me before
increases the likelihood that they would buy from me again.

The principle of social proof, developed by Cialdini, will form the basis of my marketing
materials. Because it is founded on the premise that individuals are more inclined to do
something if they see other people doing it, I believe it will be the most successful one in
convincing my target audience to purchase my goods. By demonstrating to my intended
consumers that a sizable number of individuals have already purchased my goods, I may increase
the likelihood that they will do so themselves.
References
Canz Marketing. 2022. Amazon SWOT Analysis: A Case Study To Find Your
Competitive Edge. [online] Available at<https://www.canzmarketing.com/amazon-swot-
analysis/>

Coursehero.com. 2022. Course Hero. [online] Available at:

<https://www.coursehero.com/study-guides/boundless-marketing/what-is-aproduct/>

Mindtools.com. 2022. Segmentation, Targeting and Positioning Model: What Is the

STP Process in Marketing?. [online] Available at:
<https://www.mindtools.com/pages/article/stp-model.htm>

Onstrategyhq.com. 2022. How to Evaluate Your Strategic Positioning Guide |

OnStrategy. [online] Available at<https://onstrategyhq.com/resources/evaluatestrategic-
position/>

Schenker, M., 2022. How to Use Cialdini's 6 Principles of Persuasion to Boost

Conversions. [online] CXL. Available at<https://cxl.com/blog/cialdinisprinciples-persuasion/>

TheStreet. 2022. What Is Market Segmentation? Definition and Examples. [online]

Available at: <https://www.thestreet.com/markets/corporate-governance/what-ismarket-
segmentation-14829729>

Toptal.com. 2022. We connect top talent with exceptional clients.. [online] Available
at: <https://www.toptal.com/>