Understanding VR/AR in marketing & sales for B2B: an explorative study (original) (raw)

How using virtual reality can improve B2B marketing

BH Ekonomski forum

The possibilities of virtual reality in B2B marketing are increasingly recognized in scientific discussions as well as articles on interesting examples of early adopters such as IKEA and Airbus. However, while there is a growing recognition of its potential, the specific impact of virtual reality on B2B marketing remains part of the unexplored research area. From a business point of view, virtual reality technologies are already largely attracting investments that encourage research in the field hoping to discover the full potential of this technological innovation in optimizing business operations and processes. The great interest in virtual reality in marketing is not limited to the needs of the market but also comes from the gap in academic research and literature. Therefore, this research aims to bridge the gap between managerial and academic understanding and to improve knowledge of the influence of immersive reality technologies, namely virtual reality, on B2B sales and market...

Virtual reality and its impact on B2B marketing: A value-in-use perspective

Journal of Business Research, 2019

The opportunities virtual reality provides for B2B marketing are increasingly recognized by the trade press in discussions of interesting examples from early adopters like GE, Siemens and Airbus. However, while there is growing recognition of its promise and potential, the specific impact of virtual reality on B2B marketing remains an unexplored research area. This paper provides an early theoretical consideration of the topic by developing a framework and offering propositions that describe the impact of virtual reality on B2B buyer perceptions of value-in-use during the post-purchase stage of the buyer's purchase journey. The paper also considers the moderating impact of several aspects of buyer-supplier relationships, including knowledge complexity, social complexity and task complexity, on virtual reality's contribution to value-in-use perceptions. The discussion provides B2B marketing scholars with several directions for future research and makes several recommendations for B2B marketers interested in leveraging the opportunities presented by virtual reality.

An Introduction to the Special Issue “Virtual Reality in Marketing”: Definition, Theory and Practice

Journal of Business Research, 2019

Virtual reality is an emergent technology of keen interest for marketers based on the novelty, uncertainty, complexity, and potential conflict it presents for marketing. The Special Issue provides insights into several aspects of virtual reality and its implications to the field of marketing. This article introduces the special issue and focuses on highlighting the articles in the special issue relative to offering a definition of virtual reality, highlighting theoretical contributions of the papers, and recommending managerial action for marketers wishing to leverage the opportunities provided by virtual reality.

Adoption of Virtual Reality (VR) and Augmented Reality (AR) in the Marketing Sphere

Indian Journal of Technical Education, 2023

The rapid advancements in technology have paved the way for the integration of emerging technologies in various industries. The marketing sphere has particularly embraced these immersive technologies to revolutionize customer experiences and enhance brand engagement. This research article explores the adoption of VR and AR in marketing and analyzes their impact on customer behavior, brand perception, and overall marketing effectiveness. Through an examination of current practices, this article aims to provide insights into the potential benefits and challenges associated with the integration of VR and AR in marketing campaigns. Additionally, it discusses the future prospects of VR and AR in the marketing sphere and offers recommendations for businesses looking to leverage these technologies effectively.

The role of immersive technologies in value creation in marketing

BH Ekonomski forum

Technological innovations and their potential as a tool for creating added value in marketing have long been underused, or insufficiently researched. This paper describes the use of immersive technologies and their potential for application in marketing. The use of immersive technologies in marketing has great potential and has attracted a lot of attention in the last few years. Incorporating the use of the concept of immersive technologies is increasingly becoming the subject of research in business and marketing. Initiating the use of immersive technologies in modern business is becoming the root of managing and creating a completely new customer experience. Reality can be shaped by using this type of technological innovation and as such immersive technologies with their role create an extraordinary position in communication with users. The use of immersive technologies, especially the use of Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) has been used success...

EXPLORING THE IMPACT OF AR AND VR ON ENHANCING CUSTOMER EXPERIENCES AND DRIVING SALES IN RETAIL

International Journal of Interdisciplinary Research in Arts and Humanities (IJIRAH), 2024

Augmented Reality (AR) and Virtual Reality (VR) technologies are revolutionizing the retail industry by enhancing customer experiences and increasing sales. This study aimed to explore the impact of AR/VR on customer engagement and sales growth. Using a mixed-methods approach, quantitative data was gathered from industry reports, while qualitative insights were drawn from interviews with retail experts. Results indicated that AR/VR adoption in retail is expected to reach a market value of $7.95 billion by 2025, with 40% of consumers willing to pay more for AR experiences. Furthermore, retailers utilizing AR/VR reported a 25% reduction in product returns and a 20% increase in conversion rates. Despite high implementation costs, AR/VR technologies are shown to significantly enhance customer interaction and brand loyalty. The study concludes that immersive technologies are crucial for the future of retail, although barriers such as high costs and consumer skepticism must be addressed.

Affordable Virtual Reality Content as a Marketing Instrument in Small and Middle Enterprises

wierzbicki.org

Classical marketing is gradually moving from the "real" pole of the RV (Reality-Virtuality) Continuum towards the middle of the RV spectrum. The augmentation of reality, driven by advances in computer technology, has turned out to be a powerful instrument for the commercial presentation and marketing of products, labels and companies themselves. The acceptance of this new ad extension is growing rapidly and, in the near future, it will probably be as important as traditional trade fairs or any other "real" commercial accessory advertising. True mixed-reality cannot yet (as of 2002) be fully realized on a large scale. This is because of the considerable cost both of implementation at the solution supplier's site and of the hardware required at the customer's site, and also because the approach itself has not yet been fully field-tested and is still subject to research. Furthermore, general world wide acceptance of Virtual Reality (VR) depends not only on how much it will cost the customer but also on how easily he can take advantage of it and how convenient and simple it is for him to use it.

Virtual reality through the customer journey: Framework and propositions

Journal of Retailing and Consumer Services, 2020

While virtual reality's importance is increasingly recognized in marketing, its role in the customer journey remains nebulous. We define virtual reality through the customer journey (VRCJ) as firms' use of computer-mediated interactive environments capable of offering sensory feedback to engage consumers, strengthen consumer/brand relationships, and drive desired consumer behaviors at any stage of their journey. To better understand VRCJ, we classify VR archetypes, formats, and content features, followed by the development of a conceptual framework and an associated set of propositions of VRCJ. We conclude by discussing important theoretical and practical implications that arise from our analyses.

Immersive Technologies in Retail: Practices of Augmented and Virtual Reality

2020

In this work, we examine the value that immersive technologies can bring to retailing through the retail practices they facilitate. To that end, a literature review is conducted resulting in the documentation of 28 augmented reality (AR) and virtual reality (VR) applications from 38 publications. After analyzing the applications’ functionality and use in retail, the following AR/VR-enabled retail practices emerged: branding and marketing; sales channel; after-sale customer service; virtual try-on; customer-as-designer; virtual training; and workflow management. A principal observation from the analysis is that current AR/VR applications are used mainly for customer-related innovation, with “branding and marketing” being a dominant practice. Simultaneously, some practices are available to serve organization-related and support-related innovation. Finally, it was observed that AR is a popular technology in the retail environment and of high practical value, being an ideal fit for the ...