Metaverse – the new marketing universe Hollensen, Svend; Kotler, Philip; Opresnik, Marc Oliver
Journal of business strategy/The journal of business strategy,
04/2023, Volume:
44, Issue:
3
Journal Article
Peer reviewed
Open access
Purpose
This study aims to present and explain the concept of Metaverse, which will revolutionize nearly every industry and can be regarded as the 3D version of the internet. Especially, the paper ...explores the “building blocks” of the Metaverse and how it is functioning in a case study.
Design/methodology/approach
The Metaverse concept is explained by the Nike–Roblox case study, where the authors explore the customer benefits, that are provided by the Nikeland project.
Findings
The Nike–Roblox case study is showing that virtual platforms, content services, consumer and business behavior are the most important and visible “building blocks” to the Nikeland visitors (customers) in the Nike–Roblox alliance. The Metaverse is gaining popularity among the big global brands. It is expected that the big breakthrough for Metaverse will happen when the next layer of brands, the regional and local brands, will start penetrating the Metaverse.
Originality/value
Metaverse will be the new future marketing platform for presenting and giving life to all kinds of brands in the 3D interactive digital space. Metaverse is a digital copy of how we are working in the physical world. In this 3D digital space, the users can come together via avatars that resemble them. This will have an enormous effect on how companies will use the marketing function and how we will communicate with each other in future.
Purpose of the Study: To offer marketing educators a research guideline by which online secondary data research can be used as a means to enhance students' analytic capabilities for solving real ...marketing problems. Method/Design and Sample: Based on a literature review, we develop a classification scheme for online secondary data formats, use selected formats to create a 2·2 matrix, and apply a step-wise process to a Scandinavian SME that produces a plastic-free chewing gum and aims for global expansion. Results: The case application reveals the insights an online secondary data student researcher can experience when examining a specific industry through a step-wise process. The results also suggest online secondary data sources. Value to Marketing Educators: The study provides marketing educators with a how-to guide for students to practice informed market analyses through online secondary data research. By requiring students to apply specific steps, data formats, and sources, marketing educators can enhance the quality of students' learning efforts. The suggested research guideline is scalable for use with small or large student groups. Keywords: market research, online data, secondary data, global expansion, decision process, plastic-free chewing gum INTRODUCTION
The initial hype and fanfare from the Meta Platforms view of how the metaverse could be brought to life has evolved into an ongoing discussion of not only the metaverse's impact on users and ...organizations but also the societal and cultural implications of widespread usage. The potential of consumer interaction with brands within the metaverse has engendered significant debate within the marketing‐focused discourse on the key challenges and transformative opportunities for marketers. Drawing on insights from expert contributors, this study examines the marketing implications of the hypothetical widespread adoption of the metaverse. We identify new research directions and propose a new framework offering valuable contributions for academia, practice, and policy makers. Our future research agenda culminates in a checklist for researchers which clarifies how the metaverse can be beneficial to digital marketing and advertising, branding, services, value creation, and consumer wellbeing.
Purpose
– The purpose with this article is to analyze the “Blue Ocean” phenomenon in depth. The goal is to better understand the underlying dynamic strategies in the form of interactions between ...theory and management practices.
Design/methodology/approach
– Single case study, Nintendo, which strategy is being confronted with the strategies of the two competitors, Sony and Microsoft. This is done in order to distinguish the value propositions of the three players in the game console industry
Findings
– The main finding is that even if a company can create a Blue Ocean very fast with the right value proposition at the right time, it may be short-termed and may be transformed into a Red Ocean again within 1-2 years, unless the company's competitiveness is safe-guarded.
Practical implications
– The results show, that Nintendo started out with a Red Ocean around 2005 with their GameCube. Then they turned it into a Blue Ocean with their introduction of “Wii” in November 2006. But Nintendo could not prevent Sony and Microsoft in turning it back to a Red Ocean, with their introduction of similar product features (motion controls), but at better quality. If Nintendo will be able to reestablish the Blue Ocean with their introduction of the “Wii U” in November 2012 is questionable.
Originality/value
– There is constantly a need for reformulating the strategy through a dynamic and creative process, in order not to turn the Blue Ocean into a Red Ocean again.
How can a family business reduce environmental uncertainty and dependence by developing its business model, changing the logic of creating and capturing value through its activities? Cimber, a ...Denmark-based family-owned airline, has developed different business models since its establishment in 1950. Resource dependence theory can help illuminate the actions that Cimber took in this process. The family played an important role in balancing internal and external influences, shaping the scope and complexity of the business model, and creating specific path dependencies.
Selection of celebrity endorsers Hollensen, Svend; Schimmelpfennig, Christian
Marketing intelligence & planning,
01/2013, Volume:
31, Issue:
1
Journal Article
Purpose
This paper aims at shedding some light on the various avenues marketers can undertake until finally an endorsement contract is signed. The focus of the study lies on verifying the generally ...held assumption that endorser selection is usually taken care of by creative agencies, vetting several candidates by means of subtle evaluation procedures.
Design/methodology/approach
A case study research has been carried out among companies experienced in celebrity endorsements to learn more about the endorser selection process in practise. Based on these cases theory is inductively developed.
Findings
The research suggests that the generally held assumption that endorsers being selected and thoroughly vetted by a creative agency may not be universally valid. A normative model to illustrate the continuum of the selection process in practise is suggested and the two polar case studies (Swiss brand Lindt and Austrian Vitatherm) are presented in depth.
Research limitations/implications
As the results of the study suggest, generally held assumptions towards the endorser selection process may be challenged. Consequently, this affects the necessary accuracy of models to evaluate the brand‐endorser matchup.
Practical implications
Conducted case studies indicate that there are various avenues how brands come to their endorser. This paper could not find evidence of a best practice strategy.
Originality/value
A normative model for the celebrity endorser selection process is suggested.
Electrolux is the company in the worldwide household appliances industry with the widest geographic reach. But Electrolux manages to cope with regionalization in a clear and effective way, based on ...its dedication to deep local consumer insight. Electrolux is balancing between globalization and localization in the different key functions, searching to take the best from the two. We conclude that Electrolux has chosen a true glocalization strategy. But there still remain some tough future challenges for Electrolux in terms of coping with slow and blurred internal reporting lines.
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