Blockchain Applications in Marketing
Merve Coskun Ekinci
Abstract
The impact of blockchain technology on the business landscape is growing, especially after business strategies are shaped by data-driven customer insights. Blockchain, a secure, decentralized method of storing information and transactions, has numerous marketing applications. Blockchain technology has the potential to increase customer privacy, brand safety, and transparency in digital advertising based on digital transformation. Previous research has mostly concentrated on specific applications of blockchain technology in marketing, like the operational advantages of increased security, fraud prevention, and decreased number of intermediaries for digital transactions but literature on blockchain applications in marketing are yet limited. In terms of marketing mix strategies such as digital assets, branding, advertising, social media, retailing and e-commerce, the current and potential aspects of blockchain technology should be more investigated. This chapter will go over the fundamental terms and tenets of the blockchain process, give a thorough analysis of the possible effects on various key facets of digital marketing, and offer potential research topics that might assist progress in both theory and practice as blockchain technology advances.