The Future of Virtual Reality in Marketing and Advertising: Benefits and Challenges for Business
DOI:
https://doi.org/10.57125/FEL.2023.09.25.10Keywords:
product promotion, target audience, augmented reality, risks, marketing campaign effectivenessAbstract
The study aims to summarise the application's features, advantages, and disadvantages and develop a practical toolkit for implementing virtual reality as a means of marketing promotion for modern companies. This study is a literature review of scientific publications indexed in Scopus and Web of Science from 2010 to 2022. As a result of the study and achievement of the set goal, the following results were obtained: the essence and features of the use of virtual reality in business and product promotion were determined; the advantages and disadvantages of using virtual reality in marketing were specified; the main tools for implementing virtual reality in the marketing activities of modern companies were systematised. The scientific novelty of the obtained results lies in the development of specific areas of virtual and augmented reality applications for the marketing promotion of products on the market. At the same time, the author considers the experience of the world's leading companies and considers a significant list of advantages and disadvantages of marketing the use of virtual and augmented reality. In conclusion, it is worth noting that virtual reality can be used as an effective marketing tool that reaches a large audience and significantly increases the likelihood of product purchase. Virtual and augmented reality generally open up new marketing opportunities by creating unique immersive experiences, which can dramatically improve conversion rates and sales. In the future, these technologies will become even more popular and play a key role in marketing.References
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