The impact of marketing activities on increasing interest in Digital Cryptocurrencies
Vol 8, Issue 16, 2024
Abstract
This study examines consumer attitudes toward cryptocurrencies in Slovakia, focusing on the perceived adequacy of their promotion and the influence of demographic factors such as education, gender, and age. The findings reveal that a significant majority of respondents view cryptocurrency promotion as insufficient, with 77.77% expressing dissatisfaction. Demographic factors were found to have minimal impact on attitudes, suggesting that universal barriers—such as trust, technological literacy, and perceived risks—play a more critical role. Social media emerged as a key platform for engaging consumers, particularly younger demographics, provided that campaigns are well-targeted and informative. These results highlight the need for innovative promotional strategies emphasizing transparency, education, and trust-building to bridge the gap between cryptocurrencies and broader consumer adoption. The study contributes to the growing literature on cryptocurrency marketing by providing actionable insights for addressing challenges in emerging markets like Slovakia.
Keywords
Full Text:
PDFReferences
Abbasov, S. (2024). Можливості вико- ристання цифрової економіки в монетарній політиці країн, що розвиваються: приклад Азербайджану. Науковий журнал Економіка і регіон. Полтава: ПНТУ, 2024. – Т. 3 (94). 49–56. https://journals.nupp.edu.ua/eir/article/view/3488
Ardia, D., and Bluteau, K. (2024). Twitter and cryptocurrency pump-and-dumps. International Review of Financial Analysis, 95, https://doi.org/10.1016/j.frl.2024.105851
Ba, C. T., Zignani, M., and Gaito, S. (2022). The role of cryptocurrency in the dynamics of blockchain-based social networks: The case of steemit. PloS one, 17(6), https://doi.org/10.1371/journal.pone.0267612
Baeckström, Y., Jalan, A., and Matkovskyy, R. (2024). The role of promotion versus prevention-orientation to predict individual cryptocurrency participation. Finance Research Letters, 67, https://doi.org/10.1007/s10614-020-10050-0
Bhadeshiya, H. B. (2021). Role of Cryptocurrency in Digital Marketing. In Blockchain Technology and Applications for Digital Marketing (pp. 64–83). IGI Global. https://doi.org/10.4018/978-1-7998-8081-3.ch005
Blue, L. E., Xing, C., and Pham, T. (2024). Cryptocurrency purchases among young adults: behaviors and educational opportunities. Journal of Financial Counseling and Planning, 35(3), 352–365. https://doi.org/10.1891/JFCP-2022-0084
Dorofeyev, M., Kosov, M., Ponkratov, V., Masterov, A., Karaev, A., and Vasyunina, M. (2018). Trends and prospects for the development of blockchain and cryptocurrencies in the digital economy. European Research Studies, 21(3), 429–445.
Fujiki, H. (2021). Crypto asset ownership, financial literacy, and investment experience. Applied Economics, 53(39), 4560–4581. https://doi.org/10.1080/00036846.2021.1904125
Fujiki, H. (2023). Central bank digital currency, crypto assets, and cash demand: evidence from Japan. Applied Economics, 56(19), 2241–2259. https://doi.org/10.1080/00036846.2023.2186362
Gao, C., Gu, B., Leung, A. C. M., Liu, X., and Ye, Q. (2024). The risk of cryptocurrency payment adoption and the role of social media: Evidence from online travel agencies. Production and Operations Management, https://doi.org/10.1177/105914782412318
Giri, K. (2020). Application of Gamification and Cryptocurrency Rewarding Model in social media platforms to engage and retain users-blockchain technology.
Khatri, M. (2022). Revamping the Marketing World with Metaverse – The Future of Marketing. International Journal of Computer Applications, (0975–8887). 184 (29),
Kumar, D., Kaur, T., Bajaj, S., and Juneja, M. S. (2023). Marketing Trends in the Cryptocurrency Industry. In Mainstreaming Cryptocurrency and the Future of Digital Finance (pp. 229–251). IGI Global. https://doi.org/10.4018/978-1-6684-8368-8.ch010
Limba, T.; Stankevičius, A.; Andrulevičius A. (2019). Cryptocurrency as disruptive technology: theoretical insights, Entrepreneurship and Sustainability Issues 6(4): 2068–20680. http://doi.org/10.9770/jesi.2019.6.4(36)
Manda, V. K., Sagi, S., and Yadav, A. (2024). Blockchain in Advertising and Marketing: Revolutionizing the Industry Through Transparency and Trust. In New Trends in Marketing and Consumer Science (pp. 89–112). IGI Global. https://doi.org/10.4018/979-8-3693-2754-8.ch005
Mathmann, F., Chrysochou, P., Tiganis, A., and Martin, B. A. (2024). What motivates crypto likes? How assessment regulatory mode increases social media engagement with crypto assets. Psychology & Marketing. https://doi.org/10.1002/mar.22114
Osagwu, A. O., and Okafor, E. G. (2022). Understanding the nexus between advertising and purchase intention of cryptocurrency among young adults in Nigeria. Eur. J. Bus. Innov. Res, 10, 34–70.
Pacheco, D., Hui, P. M., Torres-Lugo, C., Truong, B. T., Flammini, A., and Menczer, F. (2021, May). Uncovering coordinated networks on social media: methods and case studies. In Proceedings of the international AAAI conference on web and social media (Vol. 15, pp. 455–466). https://doi.org/10.1609/icwsm.v15i1.18075
Prokopenko, O., Halytsia, I., Berezianko, T., and Bozhkova, V. (2023). Accounting of State Grants According to International Financial Reporting Standards. Marketing and Branding Research, 10(1), 59–69. https://doi.org/10.32038/mbr.2023.10.01.05
Quan, W., Kim, S. (Sam), Hailu, T. B., Ahmad, W., and Han, H. (2023). Exploring travelers’ readiness to adopt cryptocurrency payment (vs mobile payment). Current Issues in Tourism, 27(17), 2797–2814. https://doi.org/10.1080/13683500.2023.2240474
Rodpangtiam, A., Boonchutima, S., and Mazahir, I. (2024). Perception of social media users regarding cryptocurrency investment adoption: a case of social media platform–Reddit. Cogent Business & Management, 11(1), https://doi.org/10.1080/23311975.2024.2402513
Saes, O. (2024). Role of E-Service Quality and E-Marketing on The Sustainability on Market Growth. Journal of Current Research in Business and Economics, 3(1), 4222–4240. https://jcrbe.org/index.php/rbe/article/view/277
Sakas, D. P., Giannakopoulos, N. T., Kanellos, N., and Tryfonopoulos, C. (2022). Digital marketing enhancement of cryptocurrency websites through customer innovative data process. Processes, 10(5), https://doi.org/10.3390/pr10050960
Sidorova, E. (2019). The Cyber Turn of the Contemporary Art Market. Arts. 2019; 8(3):84. https://doi.org/10.3390/arts8030084
Srinivasan, D. (2020). Why Google dominates advertising markets. Stan. Tech. L. Rev., 24, 55.
Uchibori, H., Yoshioka, K., Omote, K. (2024). Honeypot Method to Lure Attackers Without Holding Crypto-Assets, IEEE Access, 12. 16059–16071, 2024, doi: 10.1109/ACCESS.2024.3357785
Vamossy, D. F. (2021). Investor emotions and earnings announcements. Journal of Behavioral and Experimental Finance, 30, 100474. https://doi.org/10.1016/j.jbef.2021.100474.
Vamossy, D. F. (2024). Social media emotions and IPO returns. Journal of Money, Credit and Banking. https://doi.org/10.1111/jmcb.2024.10750.
Vamossy, D. F. (2024). Social media emotions and market behavior. arXiv preprint arXiv:2404.03792. https://arxiv.org/abs/2404.03792.
Vamossy, D. F., and Skog, R. P. (2024). Emtract: Extracting emotions from social media. International Review of Financial Analysis, https://doi.org/10.1016/j.irfa.2024.103769.
World Economic Forum (2016). These are the top 10 emerging technologies of 2016. Available at: https://www.weforum.org/agenda/2016/06/top-10-emerging-technologies-2016
Xu, Y., Yu, L. (2024). Blockchain-based E-commerce Marketing Strategy for Agricultural Supply Chain. 25 (5), Special Issue - Evolutionary Computing for AI-Driven Security and Privacy: Advancing the state-of-the-art application. https://doi.org/10.12694/scpe.v25i5.3028
DOI: https://doi.org/10.24294/jipd10727
Refbacks
- There are currently no refbacks.
Copyright (c) 2024 Daniela Matušíková, Jaroslava Gburová, Andrea Vadkertiová
License URL: https://creativecommons.org/licenses/by/4.0/
This site is licensed under a Creative Commons Attribution 4.0 International License.