Analysis of virtual currencies as driver of business marketing

Abstract

Brand perception is a powerful tool to engage consumers. In a globalized world, the differentiation between products and services is often very difficult. Firms are continuously policing competitors in case they copy their products and services. At the same time, they are looking for characteristic elements to differentiate them over the competition. In this context, new ideas are needed to create a brand image perception among users. Currently, virtual currencies are a novel disruptive technology that is beginning to be known in modern society. In fact, the future course of this new technology and its real effects remain unknown. However, this technology has a modern and innovative feeling that can help firms to gain popularity. This work lies with this emerging issue track at the cross-section of technology and business. Its main contribution is exploring the connection between virtual currency as payment method and marketing strategies of firms.