Strategic approaches to augmented reality deployment by luxury brands

Javornik, Ana; Duffy, Katherine; Rokka, Joonas; Scholz, Joachim; Nobbs, Karinna; Motala, Anisa; Goldenberg, Adriana

doi:10.1016/j.jbusres.2021.07.040

Cited by 69 publications

(58 citation statements)

References 51 publications

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“…The current literature tends to focus on defining BMI (Breier et al, 2021;Filser et al, 2021;Schneider and Spieth, 2013), identifying impacts on the BM (Baden-Fuller and Haefliger, 2013;Clauss et al, 2020), or describing the necessity and benefits of BMI (Aagaard and Nielsen, 2021). Our study aims to contribute to the specific cross-section of BMI (Breier et al, 2021;Christensen et al, 2016;Clauss, 2017), the use of metaverse technology (Dionisio et al, 2013;Goossens et al, 2021;Javornik et al, 2021;Jaynes et al, 2003;Lee et al, 2021;Massa et al, 2017) and corporate branding (e.g. Balmer, 1995;Bergstrom et al, 2002;Hatch and Schultz, 2003;Fisher-Buttinger and Vallaster, 2008).…”

Section: Introductionmentioning

confidence: 99%

Facebook and the creation of the metaverse: radical business model innovation or incremental transformation?

Kraus

Kanbach

Krysta

et al. 2022

IJEBR

259

105

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Purpose In a move characterized by ambiguity, Facebook changed its name to Meta in October 2021, announcing a new era of social interaction, enabled by the metaverse technology that appears poised to become the future center of gravity for online social interactions. At first glance, the communicated change signals a radically new business model (BM) based on an unprecedented configuration of the three following components: value creation, value proposition and value capture. The purpose of this paper is to analyze Facebook’s announced changes in its BM to clarify whether the change is as radical as communicated or rather represents an incremental transformation of the current BM.Design/methodology/approach This investigation adopted an in-depth case study research method. The process included using a structured approach to collect 153 data points, including academic studies and publicly available information, followed by qualitative content analysis.Findings The results of our analysis of Facebook’s entrepreneurial journey indicate that the communicated strategic refocusing does not correspond to a radical BM innovation pattern. Even though Facebook’s BM might evolve into the innovation phase, as the current changes appear very futuristic, the authors estimate that the core elements of the BM will change incrementally. The investigation indicates that the underlying logic of the straightforward communicative efforts primarily serves two purposes: to improve the external perception of the company and to disseminate an internal change signal within the organization.Originality/value This paper is the first study that takes an entrepreneurship and BM perspective in analyzing Facebook’s approach in rebranding to Meta and refocusing its strategy on building the metaverse. The academic and practical relevance, as well as the potential future impact on business and society, makes the investigation of this case an intriguing prospect. Additionally, the study illuminates the difference between the communicated vision and the real impact on the business, suggesting critical questions about future large-scale rebranding efforts and their effects.

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Section: Introductionmentioning

confidence: 99%

Facebook and the creation of the metaverse: radical business model innovation or incremental transformation?

Kraus

Kanbach

Krysta

et al. 2022

IJEBR

259

105

View full text Add to dashboard Cite

show abstract

“…In recent years, research has focused on understanding the drivers, mechanisms, and consequences of AR Marketing apps (for recent reviews of the literature, see Kumar, 2021; Rejeb et al, 2021). In particular, academics have emphasized AR's potential to create outstanding and inspirational experiences for users across the customer journey (Heller et al, 2019b; Hilken et al, 2018, 2021; Javornik et al, 2021; Rauschnabel et al, 2022). Consumers generally find AR features to be entertaining (Hilken et al, 2018), inspirational (Hinsch et al, 2020), and helpful (Hilken et al, 2017), leading to positive app evaluations (Rese et al, 2014), positive purchase intentions (Beck & Crié, 2018; Gatter et al, 2021; Hilken et al, 2017), higher willingness to pay (Heller et al, 2019b), and higher brand perceptions (Javornik, 2016; Rauschnabel et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Beyond the gimmick: How affective responses drive brand attitudes and intentions in augmented reality marketing

Zanger

Meißner

Rauschnabel

2022

Psychology and Marketing

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According to recent research in augmented reality (AR) marketing, AR‐based product presentations have the potential to create extraordinary shopping experiences across the customer journey. However, the mechanisms that drive key marketing metrics, such as brand evaluations or purchase intentions, are yet to be thoroughly understood. Drawing on the Affect‐as‐Information Theory, this study placed affective responses, such as customers' enjoyment and inspiration, at the center of decision‐making and conducted two online experiments to empirically investigate (1) the differences in the intensity of affective responses between AR and non‐AR, (2) the interplay between affective and cognitive responses in shaping behavioral outcomes, and (3) the moderating role of customer‐specific factors (customers' AR familiarity and product knowledge) on affective responses. According to the results, although the affective responses increase purchase and word‐of‐mouth intentions directly as well as indirectly through product/brand attitudes, AR does not per se guarantee more positive affective responses; rather, they depend on the technical implementation of AR features and customers' AR expertise, among others.

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“…Further attention must also be dedicated to emerging technologies such as Non-Fungible Tokens (NFTs), which provide both artists and brands the ability to collaborate in the digital domain, and allow consumers to purchase a kind of exclusive ownership over these digital creations (Javornik et al 2021). Owing to the exclusive nature of this digital ownership, luxury brands have shown inordinate interest in this technology and several luxury brands, including LMVH, Burberry, and Gucci were among some of the first to auction NFTs (DeAcetis 2021).…”

Section: Discussionmentioning

confidence: 99%

The Asian Conference on Ethics, Religion & Philosophy 2022 Official Conference Proceedings

2022

ACERP Official Conference Proceedings

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Strategic approaches to augmented reality deployment by luxury brands

Cited by 69 publications

References 51 publications

Facebook and the creation of the metaverse: radical business model innovation or incremental transformation?

Facebook and the creation of the metaverse: radical business model innovation or incremental transformation?

Beyond the gimmick: How affective responses drive brand attitudes and intentions in augmented reality marketing

The Asian Conference on Ethics, Religion & Philosophy 2022 Official Conference Proceedings

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