Opportunities and Challenges of Metaverse in Marketing

SRV Media
Pune (Maharashtra) [India], August 3: Symbiosis Institute of Business Management (SIBM), Pune, in partnership with Swansea University, UK, has been organizing a seminar series titled 'The Digital Future for Business & Society: Emerging Perspectives on The Metaverse.'
The objective of this seminar series is to explore the transformative potential of the metaverse and its profound impact on various aspects of business and society. In the 9th seminar of the ongoing series, Professor Varsha Jain from  Mudra Institute Of Communications, (MICA), Ahmedabad, India, delivered a captivating presentation, adding her expertise to the discussion. The presentation focused on the intriguing theme of "Opportunities and Challenges of Metaverse in Marketing," shedding light on the numerous hurdles and opportunities that come with this rapidly evolving digital realm.
Prof. Varsha Jain is the AGK chair, professor of marketing, and co-chairperson of the doctoral program and research at the MICA, India. She is an associate editor (AE) at the journal of consumer behavior (JCB, Wiley UK, A journal) and received the best AE award from JCB in 2022; she is an editorial board member at the international journal of information management (A* Journal), journal of advertising research (A Journal), and journal of business research (A journal), and co-track chairperson at, advertising, academy of marketing science, USA the annual conference, 2023. She is vice chair of international relations, higher education, special interest group, and the American Marketing Association, USA. She has authored over 120+ publications, including multiple papers in A* and A journal. Prof. Jain is the recipient of more than 23 international and national awards and gold medals in scholarship. In her research career, she is a visiting guest at Emory Business School, Atlanta, USA, visiting scholar at Greenwich University, London, and The Medill School, Northwestern University, USA. Her interest areas are ABCD – advertising, branding, consumer behavior, and digital (primarily, immersive technologies, including AI, AR, VR, and Meta). She is the co editor for special issues related to AI, social media influencers, and Metaverse for JCB, which is due by next year. She has co-authored books with Prof. Jag Sheth and Prof. Don Schlutz, including consumer behavior: A Digital Native. She is now working on the international edition of a consumer behavior book in the digital context, AI as the next frontier for personalized engagement for services, customer relationship management for digital context with Prof. Sheth, and purpose-driven branding and other branding books with Prof. David Aaker and another book on qualitative research methods in the digital age, Mcmillan, UK.
During the captivating seminar, Professor Jain explored the fascinating world of immersive technologies, covering a wide range of topics from customized avatars and diverse personas to the metaverse industry's investments and future prospects. The seminar thoughtfully examined both the bright and dark sides of the metaverse, acknowledging its promises of connectivity, enriched experiences, and infinite possibilities, while also addressing concerns about privacy, security, and responsible usage.
The debate on physical environments versus the metaverse was a pivotal discussion, as participants weighed the advantages and disadvantages of each realm. Additionally, the clash between price consciousness and value consciousness in the metaverse sparked intriguing conversations about its accessibility and perceived worth. The seminar also sparked curiosity about future research avenues, particularly the metaverse's applications in marketing. Participants gained a deeper understanding of the metaverse's transformative potential and the importance of responsible development to create an inclusive and enriching digital space.
Professor Ramakrishnan Raman, Director-SIBM Pune, expressed his enthusiasm about the seminar series, stating “This seminar series promises to explore the multifaceted dimensions of the metaverse and its implications for various industries and society as a whole. The series serves as a platform for experts, academics, and industry professionals to delve into the ever-expanding realm of the metaverse.”
The next seminar is scheduled on September 13, 2023, and it will feature Professor Emmanuel Mogaji from the University of Greenwich, London, UK, who will discuss "Advertising and Media Planning on the Metaverse: A Theoretical Primer for Advertising Research and Practice." This upcoming seminar is expected to offer valuable insights into the marketing potential of the metaverse. Interested participants can register through the following link:
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This seminar is jointly organized by Professor Yogesh K Dwivedi, who is a Professor of Digital Marketing and Innovation, at the School of Management, Swansea University, Wales, UK; Dr Laurie Hughes, who is a Senior Lecturer within the Strategic Operations Group, School of Management, Swansea University. Wales, UK; and, Prof. Dr Ramakrishnan Raman who is Director of SIBM-Pune, Dean of Faculty of Management, Symbiosis International (Deemed University) and Director - Strategy and Development, Symbiosis. This seminar series is jointly Supported by Digital Marketing and Analytics SIG Academy of Marketing, Grenoble IAE-Graduate School of Management - a Grenoble INP school of the University of Grenoble Alpes, The e-Business and e-Government SIG British Academy of Management and The UK Academy for Information Systems (UKAIS). The seminar is moderated by Dr Vinod Kumar, Associate Professor, SIBM Pune, and Dr Anabel Gutiérrez Senior Lecturer in Digital Marketing at Royal Holloway, University of London.
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