How Bitcoin Has Been Building Brand Equity As A Spectator Of Itself

Kosha Gada is a New York-based principal in the communications, media, and technology practice of A.T. Kearney, a global management consulting firm.

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From the Grexit crisis to the recent block size split debate, Bitcoin frequently finds itself at the center of regular news cycles. As the debates about its price performance, volatility and political implications continue to mount, beneath it all lurks the less obvious but fascinating undercurrent of Bitcoin’s brand equity — and how it continues to evolve under the auspices of a nebulous and often unpredictable entity.

As a private currency, Bitcoin is ultimately a “consumer product” and, like any other, its success is in large part determined by the engagement it can build with consumers in a free marketplace. To succeed in this has traditionally meant to succeed in marketing strategy — the deliberate discipline of identifying which consumers to target, understanding their deepest emotional needs and communicating how the product in question can meet those needs better than any available alternative — stewarded in a command-and-control fashion. As an inherently leaderless entity, Bitcoin’s brand equity is not stewarded. Ironically, therein lies

Read more ... source: TheBitcoinNews