Marketing 4.0: Opportunities and Challenges of Extended Reality Marketing
Rositsa Dimitrova, Katia Rasheva-Yordanova, Iliyan Iliev · 2024
In the modern era of rapid technological changes, marketing is undergoing a revolutionary transformation. These dynamic changes not only reshape traditional marketing approaches but also lead to the integration of impactful technologies such as mixed reality, virtual reality, and augmented reality. As a result, innovative methods for interacting with consumers, advertising, sales, and personalized experiences emerge, creating a closer and more engaging connection between business organizations and consumers. We are witnessing a transition to Marketing 4.0, revealing new perspectives and challenges. One key focus in this evolutionary process is the application of Extended Reality (XR) technologies in marketing strategies. This paper aims to analyze the opportunities and challenges ahead in the realm of Extended Reality marketing. By combining virtual with real, XR marketing not only provides unique and exciting experiences but also opens new possibilities for effective communication and interaction. The paper highlights three main categories of challenges: technological, ethical, and legal. Clarifying these challenges is crucial for the successful execution of marketing campaigns based on virtual and augmented reality technologies. This will enable companies to extract maximum value from this innovative approach and create conditions for a sustainable competitive advantage.