The present work addresses the following questions: What is the Metaverse, and to what extent can it expand and optimize business activities in marketing and sales? How will its development look, and what opportunities and risks arise from participating in it?
With the renaming of the Facebook conglomerate to Meta in 2021, CEO Mark Zuckerberg promotes the idea of the Metaverse. Popular media and public discourse have recently generated extensive interest, as strong emotions are associated with this futuristic technology, and various visions of its future appearance have been put forth. There are indications that a new digital revolution, similar to the introduction of the internet, is on the horizon. However, to reach that point, several technological, societal, and regulatory stages need to be overcome. The topic has also gained traction in the marketer world. When you ask marketers today how they keep up with the digital transformation in their companies, the term Metaverse will be mentioned. However, at this moment, it is not definitively determined how it will be precisely defined and to what extent it will influence business activities.
To gain a competitive advantage, companies, primarily in the B2C sector, are already venturing into the Metaverse and exploring this novel technology. By entering this new market early, brands can convey an innovative image and offer customers a unique shopping experience. Various application possibilities also exist for the B2B sector. The Metaverse could be used for various activities, such as meetings and events, maintaining customer relationships, hybrid selling, innovative marketing, Smart Contracts, and also serving as an advertising platform.
Table of Contents
- 1 Introduction
- 1.1 Introduction to the topic and problem
- 1.2 Objective
- 1.3 Research question
- 1.4 Methodology of the work
- 1.5 Structure of the work
- 1.6 State of research and scientific classification of the work
- 2 Theoretical foundations
- 2.1 The Metaverse
- 2.1.1 Definition and General
- 2.1.2 The blockchain as a marketing tool
- 2.1.3 AR & VR as access components
- 2.2 Interim conclusion
- 3 Methodical approach
- 3.1 Research design
- 3.2 Data collection
- 3.2.1 Selection of interview partners
- 3.2.2 Acquisition and field access
- 3.2.3 Construction of the interview guide
- 3.2.4 Conducting the interviews
- 3.3 Data evaluation
- 4 Presentation and interpretation of the results
- 4.1 Fields of application Sales
- 4.1.1 Product presentation and sales
- 4.1.2 Events
- 4.1.3 Personnel
- 4.2 Application fields marketing
- 4.3 Challenges
- 4.4 Interpretation and recommendation for action
- 5 Limitations and future research
Objectives and Key Themes
This master's thesis aims to conduct a qualitative study on the applications of the metaverse in marketing and sales, specifically within the B2B sector. The research investigates the potential and challenges of utilizing metaverse technologies in these fields.
- Applications of the Metaverse in B2B Sales and Marketing
- Technological Requirements and Challenges of Metaverse Implementation
- Social and Entrepreneurial Hurdles in Metaverse Adoption
- Regulatory Concerns and Data Privacy Issues Related to the Metaverse
- Recommendations for Action and Future Research
Chapter Summaries
1 Introduction: This introductory chapter sets the stage for the thesis, outlining the research problem concerning the metaverse's potential in B2B marketing and sales. It defines the research objective, question, and methodology employed, providing a roadmap for the subsequent chapters. The chapter also reviews existing research and positions the study within the broader academic landscape, highlighting its novelty and contribution to the field.
2 Theoretical foundations: This chapter establishes a firm theoretical foundation by defining the metaverse and exploring its key components. It delves into the role of blockchain technology as a marketing tool within the metaverse, examines augmented reality (AR) and virtual reality (VR) as access components, and concludes with a synthesis of these concepts, providing a framework for understanding the metaverse's potential impact on B2B marketing and sales. The section on blockchain technology explores its decentralized nature and how this impacts trust and security, crucial aspects of B2B transactions. The discussion of AR/VR emphasizes how these technologies facilitate immersive experiences crucial for effective product demonstrations and customer engagement.
3 Methodical approach: This chapter details the research design and data collection methods used in the study. It explains the selection of interview partners—individuals with direct experience in B2B marketing and sales—and the process of gaining access to them. The construction and administration of the interview guide are described, along with the data analysis techniques employed to ensure rigorous and valid findings. The justification for a qualitative approach and the specific techniques used (e.g., thematic analysis) are clearly articulated, strengthening the methodological rigor of the study.
4 Presentation and interpretation of the results: This chapter presents the qualitative findings, structured around the fields of application in sales and marketing, followed by a discussion of the challenges associated with metaverse implementation. The analysis reveals various applications such as product presentations, virtual events, and innovative training opportunities, highlighting the potential benefits across different aspects of B2B operations. Challenges related to technology, infrastructure, social adoption, and regulatory issues are also discussed, providing a balanced perspective of the metaverse's potential and limitations.
5 Limitations and future research: This chapter addresses limitations inherent in the study's design and data collection, acknowledging potential biases and areas for improvement. Suggestions for future research are offered, highlighting gaps in the current understanding and potential avenues for future investigation. This section critically assesses the scope of the study and provides directions for further research to expand upon the findings.
Keywords
Metaverse, B2B marketing, B2B sales, blockchain technology, augmented reality (AR), virtual reality (VR), qualitative research, digital twins, virtual events, data privacy, regulatory concerns, market challenges, future of business.
Frequently Asked Questions: Master's Thesis on Metaverse Applications in B2B Sales and Marketing
What is the main topic of this master's thesis?
This master's thesis conducts a qualitative study exploring the applications of the metaverse in B2B (business-to-business) marketing and sales. It investigates the potential benefits and challenges of utilizing metaverse technologies in these fields.
What are the key themes explored in the thesis?
The key themes include the applications of the metaverse in B2B sales and marketing, technological requirements and challenges of metaverse implementation, social and entrepreneurial hurdles in metaverse adoption, regulatory concerns and data privacy issues, and recommendations for future research and action.
What methodology was used in this research?
The thesis employs a qualitative research approach. Data was collected through interviews with individuals directly involved in B2B marketing and sales. The selection of interview partners, the construction of the interview guide, the process of conducting the interviews, and the data analysis techniques (likely thematic analysis) are detailed in the methodology chapter.
What are the key findings regarding the application of the metaverse in B2B sales and marketing?
The findings highlight various applications of the metaverse, including product presentations, virtual events, and innovative training opportunities within the B2B sector. However, the research also identifies challenges related to technology, infrastructure, social adoption, and regulatory issues.
What are some specific examples of metaverse applications in B2B sales discussed in the thesis?
The thesis explores the use of the metaverse for product presentations and sales, virtual events, and personnel training. These examples illustrate the potential for immersive and engaging experiences within B2B contexts.
What technological aspects are discussed in relation to metaverse implementation in B2B?
The thesis examines the role of blockchain technology as a marketing tool within the metaverse, and augmented reality (AR) and virtual reality (VR) as crucial access components facilitating immersive experiences.
What challenges are associated with implementing metaverse technologies in B2B settings?
The research identifies challenges related to technology infrastructure, social adoption, regulatory concerns (e.g., data privacy), and other market hurdles in adopting metaverse technologies.
What are the limitations of this study?
The thesis acknowledges limitations inherent in its design and data collection, including potential biases. It also suggests areas for improvement and future research to address these limitations.
What are the recommendations for future research?
The thesis provides recommendations for future research, pointing out gaps in current understanding and suggesting potential avenues for further investigation to expand upon the findings. This includes exploring specific unresolved issues and expanding the scope of future studies.
What keywords describe the main themes of this thesis?
Keywords include: Metaverse, B2B marketing, B2B sales, blockchain technology, augmented reality (AR), virtual reality (VR), qualitative research, digital twins, virtual events, data privacy, regulatory concerns, market challenges, and the future of business.
- Quote paper
- Jakob Ramsenthaler (Author), 2022, The Metaverse in Marketing and Sales. Fields of Application in the B2B Sector, Munich, GRIN Verlag, https://www.grin.com/document/1377519
