Luxury Fashion in Metaverse: What are the strategies employed by fashion brands in virtual worlds?

Dissertation presented as the partial requirement for obtaining a Master's degree in Data Driven Marketing, specialization in Marketing IntelligenceThe metaverse, a platform bridging the real and virtual worlds, has recently emerged as an attractive business avenue, particularly for the fashion industry. Fashion brands are increasingly exploring the metaverse as a novel marketing platform to connect with younger audiences. However, the concept of the metaverse lacks consensus, and there is limited academic research on its impact on fashion brands' marketing strategies and immersive brand experiences. To address these gaps, this study employs a qualitative approach, utilizing immersive netnographic research conducted on gaming and virtual platforms to firsthand observe luxury brands' strategies. The analysis reveals three key strategies employed by fashion brands in the metaverse. Firstly, luxury brands establish their own virtual spaces within gaming platforms and virtual worlds to showcase their products and engage consumers. Secondly, brands strive to captivate and involve consumers through highly immersive experiences. Lastly, economic transactions within the metaverse predominantly rely on non-fungible tokens (NFTs), enabling brands to sell digital assets and maintain exclusivity. This study not only identifies the primary strategies of fashion brands but also serves as a model for future research endeavors aiming to conduct immersive netnographic studies in this evolving landscape

Debranding in Fantasy Realms: Perceived Marketing Opportunities within the Virtual World

This paper discusses the application of the concept of debranding within immersive virtual environments. In particular the issue of the media richness and vividness of experience is considered in these experience realms that may not be conducive to traditional branding invasive strategies. Brand equity is generally seen to be the desired outcome of branding strategies and the authors suggest that unless the virtual domains are considered as sacred spaces then brand equity may be compromised. The application of the above concepts is applied to the differing social spaces that operate within the different experience realms. The ideas of resonance, presence and interactivity are considered here. They lead to the development of a constructed positioning by the participants. Through the process of debranding, marketers may be able to enter these sacred spaces without negative impact to the brand. Perception of these virtual spaces was found to be partially congruent with this approach to branding. It thus presents a number of challenges for the owners of such virtual spaces and also virtual worlds in increasing the commercial utilization of investment in these environments

Developing a Second Life virtual field trip for university students: an action research approach

Background: Integrating 3D virtual world technologies into educational subjects continues to draw the attention of educators and researchers alike. The focus of this study is the use of a virtual world, Second Life, in higher education teaching. In particular, it explores the potential of using a virtual world experience as a learning component situated within a curriculum delivered predominantly through face-to-face teaching methods. Purpose: This paper reports on a research study into the development of a virtual world learning experience designed for marketing students taking a Digital Promotions course. The experience was a field trip into Second Life to allow students to investigate how business branding practices were used for product promotion in this virtual world environment. The paper discusses the issues involved in developing and refining the virtual course component over four semesters. Methods: The study used a pedagogical action research approach, with iterative cycles of development, intervention and evaluation over four semesters. The data analysed were quantitative and qualitative student feedback collected after each field trip as well as lecturer reflections on each cycle. Sample: Small-scale convenience samples of second- and third-year students studying in a Bachelor of Business degree, majoring in marketing, taking the Digital Promotions subject at a metropolitan university in Queensland, Australia participated in the study. The samples included students who had and had not experienced the field trip. The numbers of students taking part in the field trip ranged from 22 to 48 across the four semesters. Findings and Implications: The findings from the four iterations of the action research plan helped identify key considerations for incorporating technologies into learning environments. Feedback and reflections from the students and lecturer suggested that an innovative learning opportunity had been developed. However, pedagogical potential was limited, in part, by technological difficulties and by student perceptions of relevance

Exploring key determinants of virtual worlds \ud business success based on users' experience and\ud perception

Given the growth and popularity of virtual worlds, companies have a\ud strong interest in presenting themselves successfully in virtual worlds. We\ud designed an experimental study to identify the key determinants of virtual worlds\ud business success based on users’ experience and perception. The preliminary\ud results indicate that Starbucks, McDonalds, and Paris are the 3 most favorite sites.\ud Furthermore, 5 key determinants (entertainment, functionality, interactivity,\ud reality, and sociality) of business success in virtual worlds are identified in this\ud study. We conclude the practical and theoretical implications of the findings of\ud this study.\u

Interactive Food and Beverage Marketing: Targeting Children and Youth in the Digital Age

Looks at the practices of food and beverage industry marketers in reaching youth via digital videos, cell phones, interactive games and social networking sites. Recommends imposing governmental regulations on marketing to children and adolescents

Virtual Geodemographics: Repositioning Area Classification for Online and Offline Spaces

Computer mediated communication and the Internet has fundamentally changed how consumers and producers connect and interact across both real space, and has also opened up new opportunities in virtual spaces. This paper describes how technologies capable of locating and sorting networked communities of geographically disparate individuals within virtual communities present a sea change in the conception, representation and analysis of socioeconomic distributions through geodemographic analysis. We argue that through virtual communities, social networks between individuals may subsume the role of neighbourhood areas as the most appropriate units of analysis, and as such, geodemographics needs to be repositioned in order to accommodate social similarities in virtual, as well as geographical, space. We end the paper by proposing a new model for geodemographics which spans both real and virtual geographies

Investigating affordances of virtual worlds for real world B2C e-commerce

Virtual worlds are three-dimensional (3D) online persistent multi-user environments where users interact through avatars. The literature suggests that virtual worlds can facilitate real world business-to-consumer (B2C) e-commerce. However, few real world businesses have adopted virtual worlds for B2C e-commerce. In this paper, we present results from interviews with consumers in a virtual world to investigate how virtual worlds can support B2C e-commerce. A thematic analysis of the data was conducted to uncover affordances and constraints of virtual worlds for B2C e-commerce. Two affordances (habitability and appearance of realness) and one constraint (demand for specialised skill) were uncovered. The implications of this research for designers are (1) to provide options to consumers that enable them to manage their online reputation, (2) to focus on managing consumers’ expectations and (3) to facilitate learning between consumers

From the Hands of an Early Adopter's Avatar to Virtual Junkyards: Analysis of Virtual Goods' Lifetime Survival

One of the major questions in the study of economics, logistics, and business forecasting is the measurement and prediction of value creation, distribution, and lifetime in the form of goods. In "real" economies, a perfect model for the circulation of goods is impossible. However, virtual realities and economies pose a new frontier for the broad study of economics, since every good and transaction can be accurately tracked. Therefore, models that predict goods' circulation can be tested and confirmed before their introduction to "real life" and other scenarios. The present study is focused on the characteristics of early-stage adopters for virtual goods, and how they predict the lifespan of the goods. We employ machine learning and decision trees as the basis of our prediction models. Results provide evidence that the prediction of the lifespan of virtual objects is possible based just on data from early holders of those objects. Overall, communication and social activity are the main drivers for the effective propagation of virtual goods, and they are the most expected characteristics of early adopters.Comment: 28 page

Realizing consumers’ existential dreams via product marketing and mixed reality: a perspective based on affective neuroscience theories

In an era of swift societal changes and escalating consumerism, this paper presents an exploration of an innovative approach that integrates product marketing strategies, mixed reality (MR) technology, and affective neuroscience theories to actualize consumers’ existential dreams. MR, with its unique capacity to blend the virtual and real worlds, can enhance the consumer experience by creating immersive, personalized environments that resonate with consumers’ existential aspirations. Insights from affective neuroscience, specifically the brain’s processing of emotions, guide the development of emotionally engaging marketing strategies, which strengthen the connection between consumers, products, and brands. These integrated strategies not only present a novel blueprint for companies to deepen consumer engagement but also promise more fulfilling and meaningful consumer experiences. Moreover, this approach contributes to societal well-being and prosperity, marking a significant stride in the field of marketing

Coming Out: Making the Virtual Library Visible in Today\u27s World

This is the age of the virtual customer. A silent virtual revolution has led to tumultuous and disruptive changes in environmental, financial, educational, and information environments. As the Library becomes increasingly virtual, it is becoming virtually invisible – as are library customers. Libraries are redefining their roles, managing their migration from the print past to an online future in a time of spiralling costs and declining incomes, redefining their products and services and refocusing on their customers, many of whom they rarely if ever see. How do we position the Library in the marketplace? What is the message to be conveyed to a new generation of customers? What are the information needs to be met? What are the Library’s products and services? What is the story to be told? How are the Library’s products and services most effectively marketed? What communication strategies should be used to bridge the virtual and the real worlds? The paper explores ways in which the Library and its message can be “flipped”. The promotion of goods and services that simplify client experiences is one direction. Less can be more. Ways of rebuilding relationships and establishing rapport with clients are presented. Possible approaches to the development of meaningful engaging content for particular audiences are outlined. Strategies in use by leading edge libraries are identified. Uses of social media in marketing and improving website content are obvious strategies. Designing product and promotional means for mobile devices is an essential component. Collaborating with others and using “influencers” and recommender services will enhance capacity. Ways of making the virtual library visible and telling the story effectively in a largely invisible domain are outlined and transformative strategies explored