Effects of the Metaverse on Marketing and Consumer Behaviour
Chapter from the book:
Yılmaztürk,
Y.
&
Akdoğan,
Ç.
(eds.)
2023.
Selected Topics in Marketing: Concepts and Studies.
Synopsis
In today's conditions, it is seen that the number of enterprises serving in the same sector is increasing day by day. At this point, it is obvious that the number of competitors of an enterprise has increased compared to the past years and competition is inevitable. Businesses derive different marketing strategies by taking into account the changes in today's conditions and technological developments in order to gain superiority over their competitors and to hold the market environment. It is seen that Metaverse stands out in the global market environment with technological developments. Metaverse provides very important advantages in terms of providing competitive advantage, increasing and differentiating marketing strategies. In addition, important data are obtained through Metaverse to determine consumers' foresight about future products or services. However, although Metaverse has many advantages for businesses, it is seen that there are some points where consumers abstain from this concept. The reason for this is that the Metaverse has not been fully adopted among consumers. As a result, in addition to the convenience of Mematverse in practice for businesses, it also brings some difficulties. In this study, the concept of Metaverse, its effects on marketing and consumer behaviour, and the opportunities and challenges of Metaverse in terms of marketing are discussed.