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Metaverse Marketing

Author

Listed:
  • Hennig-Thurau Thorsten

    (Professor of Marketing & Media Research and Academic Director of XRLab@MCM, University of Münster, Germany)

  • Ognibeni Björn

    (Co-founder of ChinaBriefs.io and Strategic Director of XRLab@MCM, University of Münster, Germany)

Abstract

Some activities you do alone in a virtual environment might be better or substantially cheaper in the metaverse than on the 2D internet. Yet the real value of the metaverse is the social component of its environment. Companies can harvest this potential in various contexts. At work, the metaverse can be used for meetings and trainings in atmospheric settings, equipped with various tools and with zero travelling costs. For consumers, it offers joint consumption opportunities, encompassing many fields of entertainment such as movie watching, playing games and attending events, as well as shopping. And many services can benefit strongly from the unique “closeness” of customers and employees. The metaverse will grow strongly but not exponentially. Companies should get familiar with the new space and start small, exploring what works and what doesn’t. They should try to understand what the metaverse shares with the physical world and what sets it apart.

Suggested Citation

  • Hennig-Thurau Thorsten & Ognibeni Björn, 2022. "Metaverse Marketing," NIM Marketing Intelligence Review, Sciendo, vol. 14(2), pages 43-47, November.
    • Handle: RePEc:vrs:gfkmir:v:14:y:2022:i:2:p:43-47:n:7
    DOI: 10.2478/nimmir-2022-0016
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    Citations

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    Cited by:

    1. Thorsten Hennig-Thurau & Dorothea N. Aliman & Alina M. Herting & Gerrit P. Cziehso & Marc Linder & Raoul V. Kübler, 2023. "Social interactions in the metaverse: Framework, initial evidence, and research roadmap," Journal of the Academy of Marketing Science, Springer, vol. 51(4), pages 889-913, July.
    2. 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).

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