IDEAS home Printed from https://ideas.repec.org/a/spr/amsrev/v13y2023i1d10.1007_s13162-023-00255-5.html
   My bibliography  Save this article

Marketing on the metaverse: Research opportunities and challenges

Author

Listed:
  • Shuya Lu

    (Cleveland State University)

  • Ofer Mintz

    (Tel Aviv University
    University of Technology Sydney)

Abstract

The metaverse offers marketers the greatest potential to engage with customers and develop competitive advantages on a new medium since the advent of social media. Yet, immense uncertainty exists on what the metaverse is, how it will ultimately develop, and how firms and consumers will use it. This research aims to reduce this uncertainty by offering guidance on metaverse marketing from a firm’s perspective. We first provide background on the metaverse and summarize existing metaverse marketing research. Then, we describe how marketers can use the metaverse to differentiate their firms through the 4 P’s and 5 C’s. Subsequently, we expand on Reibstein and Iyengar’s (2023) seven potential marketing roles for the metaverse by providing additional rationales, potential opportunities, challenges, and future research directions for each role. Finally, we conclude the research by summarizing potential challenges firms face/will face while conducting metaverse marketing.

Suggested Citation

  • Shuya Lu & Ofer Mintz, 2023. "Marketing on the metaverse: Research opportunities and challenges," AMS Review, Springer;Academy of Marketing Science, vol. 13(1), pages 151-166, June.
    • Handle: RePEc:spr:amsrev:v:13:y:2023:i:1:d:10.1007_s13162-023-00255-5
    DOI: 10.1007/s13162-023-00255-5
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13162-023-00255-5
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13162-023-00255-5?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Giang Barrera, Kevin & Shah, Denish, 2023. "Marketing in the Metaverse: Conceptual understanding, framework, and research agenda," Journal of Business Research, Elsevier, vol. 155(PA).
    2. Yoo, Kiwoong & Welden, Roman & Hewett, Kelly & Haenlein, Michael, 2023. "The merchants of meta: A research agenda to understand the future of retailing in the metaverse," Journal of Retailing, Elsevier, vol. 99(2), pages 173-192.
    3. David J Reibstein & Raghu Iyengar, 2023. "Metaverse—will it change the world or be a whole new world in and of itself?," AMS Review, Springer;Academy of Marketing Science, vol. 13(1), pages 144-150, June.
    4. Belk, Russell & Humayun, Mariam & Brouard, Myriam, 2022. "Money, possessions, and ownership in the Metaverse: NFTs, cryptocurrencies, Web3 and Wild Markets," Journal of Business Research, Elsevier, vol. 153(C), pages 198-205.
    5. Fine F. Leung & Flora F. Gu & Robert W. Palmatier, 2022. "Online influencer marketing," Journal of the Academy of Marketing Science, Springer, vol. 50(2), pages 226-251, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ahn, Suhyoung & Ellie Jin, Byoungho & Seo, Hyesim, 2024. "Why do people interact and buy in the Metaverse? Self-Expansion perspectives and the impact of hedonic adaptation," Journal of Business Research, Elsevier, vol. 175(C).
    2. Goldberg, Mitchell & Schär, Fabian, 2023. "Metaverse governance: An empirical analysis of voting within Decentralized Autonomous Organizations," Journal of Business Research, Elsevier, vol. 160(C).
    3. Park, Hyejune & Lim, Rachel Esther, 2023. "Fashion and the metaverse: Clarifying the domain and establishing a research agenda," Journal of Retailing and Consumer Services, Elsevier, vol. 74(C).
    4. Yogesh K. Dwivedi & Nir Kshetri & Laurie Hughes & Nripendra P. Rana & Abdullah M. Baabdullah & Arpan Kumar Kar & Alex Koohang & Samuel Ribeiro-Navarrete & Nina Belei & Janarthanan Balakrishnan & Sripa, 2023. "Exploring the Darkverse: A Multi-Perspective Analysis of the Negative Societal Impacts of the Metaverse," Information Systems Frontiers, Springer, vol. 25(5), pages 2071-2114, October.
    5. Keegan, Brendan James & McCarthy, Ian P. & Kietzmann, Jan & Canhoto, Ana Isabel, 2024. "On your marks, headset, go! Understanding the building blocks of metaverse realms," Business Horizons, Elsevier, vol. 67(1), pages 107-119.
    6. Mkedder, Nadjim & Das, Manish, 2024. "Metaverse integration challenges: An in-depth ISM and MICMAC analysis," Journal of Retailing and Consumer Services, Elsevier, vol. 77(C).
    7. Raeesah Chohan & Ellen Schmidt-Devlin, 2024. "Sports fandom in the metaverse: marketing implications and research agenda," Marketing Letters, Springer, vol. 35(1), pages 1-14, March.
    8. Davies, Jennifer & Sharifi, Hossein & Lyons, Andrew & Forster, Rick & Elsayed, Omar Khaled Shokry Mohamed, 2024. "Non-fungible tokens: The missing ingredient for sustainable supply chains in the metaverse age?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 182(C).
    9. Ra’ed Masa’deh & Dmaithan A. AlMajali & Abdullah A. M. AlSokkar & Mohammad Alshinwan & Maha Shehadeh, 2023. "Antecedents of Intention to Use E-Auction: An Empirical Study," Sustainability, MDPI, vol. 15(6), pages 1-11, March.
    10. Bilgihan, Anil & Leong, Aliana Man Wai & Okumus, Fevzi & Bai, Jingyi, 2024. "Proposing a metaverse engagement model for brand development," Journal of Retailing and Consumer Services, Elsevier, vol. 78(C).
    11. Kim, Do Yuon & Lee, Ha Kyung & Chung, Kyunghwa, 2023. "Avatar-mediated experience in the metaverse: The impact of avatar realism on user-avatar relationship," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    12. Zafar, Abaid Ullah & Shahzad, Mohsin & Ashfaq, Muhammad & Shahzad, Khuram, 2023. "Forecasting impulsive consumers driven by macro-influencers posts: Intervention of followers' flow state and perceived informativeness," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    13. Andonopoulos, Vasiliki & Lee, Jenny (Jiyeon) & Mathies, Christine, 2023. "Authentic isn't always best: When inauthentic social media influencers induce positive consumer purchase intention through inspiration," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    14. Ghali, Zohra & Rather, Raouf Ahmad & Khan, Imran, 2024. "Investigating metaverse marketing-enabled consumers’ social presence, attachment, engagement and (re)visit intentions," Journal of Retailing and Consumer Services, Elsevier, vol. 77(C).
    15. Yineng Xiao & Sayed Fayaz Ahmad & Muhammad Irshad & Han Guo & Haitham A. Mahmoud & Emad Mahrous Awwad & Yasser Khan, 2024. "Investigating the mediating role of ethical issues and healthcare between the metaverse and mental health in Pakistan, China, and Saudi Arabia," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    16. Mangiò, Federico & Di Domenico, Giandomenico, 2022. "All that glitters is not real affiliation: How to handle affiliate marketing programs in the era of falsity," Business Horizons, Elsevier, vol. 65(6), pages 765-776.
    17. Gerrath, Maximilian H.E.E. & Olya, Hossein & Shah, Zahra & Li, Huaiyu, 2024. "Virtual influencers and pro-environmental causes: The roles of message warmth and trust in experts," Journal of Business Research, Elsevier, vol. 175(C).
    18. Gänßle, Sophia & Budzinski, Oliver, 2023. "The economics of influencers and social media stardom," Ilmenau Economics Discussion Papers 178, Ilmenau University of Technology, Institute of Economics.
    19. McMullan, Kylie, 2023. "A checklist for managers to enhance influencer partnerships and avoid potential pitfalls," Business Horizons, Elsevier, vol. 66(4), pages 443-452.
    20. Haynes, Paul & Hietanen, Joel, 2023. "Marketing without trust? – Blockchain technologies in the sharing economy as assemblage and pharmakon," Journal of Business Research, Elsevier, vol. 163(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:amsrev:v:13:y:2023:i:1:d:10.1007_s13162-023-00255-5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.