Marketing Beyond Reality: Harnessing the Metaverse for Marketing Transformation in Emerging Economies
摘要
The chapter examines metaverse marketing and how it has redefined marketing strategies and consumer engagement in emerging markets. The literature-based Systematic Reviews and Meta-Analyses (PRISMA) study explores the evolution and relevance of metaverse marketing, highlighting its transformative role in shaping marketing practices. It also outlines the potential and limitations of metaverse marketing in developing markets. The review identifies key marketing opportunities such as immersive brand experience, virtual commerce, community building, virtual influencers and partnerships, data-driven insights and feedback, and localisation and cultural adaptation. It also considers how metaverse marketing has improved advertising platforms, sustainable marketing opportunities, education and training, and early adopter benefits in building loyalty in emerging markets. However, challenges such as infrastructure gaps, privacy concerns, regulatory hurdles, high costs, and disparities in digital literacy are highlighted as significant barriers in emerging markets. In addition, the chapter highlights how technologies such as artificial intelligence, machine learning, augmented reality, mixed reality, virtual reality, blockchain technology, and advanced advertising platforms will influence the development of the metaverse. It discusses the possible economic and environmental impacts while advocating for sustainable practices in virtual marketing. The study also examines success stories and lessons learned from early adopters in the Metaverse and provides practical insights for stakeholders. The review concludes by advocating for collaboration, inclusivity, and adaptability to evolving consumer behaviour in virtual spaces. It offers a forward-looking perspective on marketing in a fully realised metaverse, highlighting its transformative potential, particularly for emerging markets looking to bridge digital divides.