A Research Proposal on Transforming Digital Marketing into a Virtual Reality
Table of Contents
1.0 INTRODUCTION 3
1.1 Background 3
1.2 Statement of the Problem 4
1.3 Research Question 5
1.4 The Study Objectives 5
1.5 Research Significance 5
2.0 LITERATURE REVIEW 6
2.1 Theoretical Review 6
2.2 Conceptual Review 7
3.0 METHODOLOGY 9
3.1 Research Design 9
3.2 Population, Sample and Sampling Procedure 9
3.3 Data Collection 9
3.4 Ethical Considerations 10
3.5 Analysis of Data 10
Works cited 11
My research will focus on the transformation of digital marketing into a virtual reality. This section of the proposal highlights the basis of the study, and therefore, include the major components such as the research background, the problem statement and the study objectives.
Barnham (3) defines digital marketing as the targeted, measurable and interactive commercialization of products and services through the digital technology. With digital marketing, companies and organizations have the primary goal of reaching the potential customers in their respective markets. The marketing technique also makes it possible for companies to promote their product brands, build preferences and increase sale volumes (Sitarz 43). The most commonly used digital marketing techniques range from mobile phone platform, computer applications, television networks, to films or movie advertisements.
With the introduction of computers and computer applications, most companies find the use of social media beneficial as it creates a more interactive environment (Sega, Akinori, and Ki 18). It is also true from some of the previous studies that social media has brought a new dimension to product promotion and in the past few decades, the technique has provided customers with the opportunity to scrutinize the information on the products and make their views about the product as well (Carter 19). The fact that customers can now have a better understanding of the products they consume means that there is the creation of an interactive session between the advertiser and the target groups. The information obtained in such sessions can be useful in improving the quality of the product and promotional techniques.
With the growing needs for quality products and services on the side of consumers, there is a need to focus on real-time digital marketing techniques. This means that companies must strategically transform their digital marketing methods to virtual reality. Therefore, my research will look into the role of music and entertainment advertisement techniques in the marketing of products and services in the United Kingdom. The research will also focus on the efficient transformation of digital marketing into virtual reality with the understanding of customers’ needs for superior products (Carter and Ravi 125). Virtual reality is a technology that makes one feel as if operating in the real world with the aid of technological devices like 3D devices used in movies.
Statement of the Problem
“Contemporary issues in product promotion and advertisement require companies and businesspersons to develop strategies that can allow improvements in product purchase and consumption and substantial growth in revenues (Taylor, Marjorie, and Robert 23). One of such strategies includes shifting from the traditional techniques of advertisement to the creation of virtual reality. How can companies and organization transform their digital marketing strategies to virtual reality?”
With the growing technology and intensity of competition among various companies in the world, it has become increasingly important to target a group of the world population that are more obsessed about technological advancement. This section of the population is the youths who make up to 60% of the total world market (Shugan 470). The main problem is that some of the methods of marketing such as the traditional methods do not cover the interests or needs of youths. This has necessitated a need for research to establish how best virtual reality (which is youth based) can be integrated into marketing techniques.
How can we transform the digital marketing into virtual reality?
What are some of the virtual reality web-based systems?
What are virtual reality systems in term of the marketing and advertisement?
How does usage statistic of virtual reality systems compare between the age group of people?
What are the improvements or alteration that can be made in related to virtual reality sector?
The Study Objectives
As already stated, the main objective of this paper is to identify the means of transforming the digital marketing into virtual reality. Other objectives include:
Identifying virtual reality web-based systems;
Describing the virtual reality systems in term of the marketing and advertisement;
Comparing usage statistic between age group of people; and
Identify improvements or alteration in related to virtual reality sector.
This research will determine the current effectiveness of interactive entertainment as a marketing technique for the young people. This information will be used to evaluate the marketing gaps that exist within the youths, and also help firms to tap into search markets.
In this section of my proposal, we consider some of the works that have been done on digital marketing and also try to establish the gap that can be researched about so that the performance of digital marketing can be improved. The literature review is divided into two major parts: the theoretical study and conceptual review.
Digital marketing has been in place for more than a decade now (Carter and Ravi 129). Since 1995, digital marketing has experienced steady growth over time. In the contemporary economy, digital marketing has plaid a vital role especially with the introduction of social media. Social media has been a major marketing platform with Facebook being the most commonly used site. Carter and Ravi (129) also believe that people cannot fully talk about digital marketing without first understanding the mean of Web 2.0, a term which refers to the use of World Wide Web (Colbert 279). Within this platform, content keeps on being changed in a collaborative way and this is more about people with the technology rather than what technology does for them. The WWW sites are aspects of interactive technology where customers can give their views concerning the products at will and in the comfort of their home (Kane 20). Without downplaying the achievements of social media in digital marketing, it will be equally important to integrate the latest innovations to supplement the effort of the social media. The most current development in technology is computer-generated reality (CGR) or Virtual Reality (VR).
VR is an innovation that has a lot of potential considering that it is still evolving and is more users centered. The retailers should make an effort to try to integrate this new technological experience in their marketing techniques as it gives the customers’ new experience (Marketing and Market Research 564).
Despite the fact that several studies have been carried out to show the level of consumer satisfaction in the use of VR devices, so little has been done to establish the impact of using VR as part of the interactive entertainment as an advertising technique (Hartmut, Scranton, and Uwe 628). For instance, psychologist considers music to be one of the techniques in the digital era that can be used to change the perception of consumers and ensure that there is an increase in purchase and consumption of a product.
According to Caving Patterson the Chief Executive, BT (Takács), virtual reality technology has penetrated the entertainment market in the past five years and is expected to realize a return of up to $70 billion in the year 2020. According to the market research carried out by Touchstone Research Company in July-August 2015 to establish the kind of games the teenagers in the United States preferred, a large population (70%) of the youths interviewed preferred virtual reality (VR) games (Fitzgerald 140). This indicates the potential of VR as a marketing platform among the teenagers. According to inter-Q, transformative consumer insights, the VR had been marvelous in interactive entertainment sector especially when Merrell hosted a virtual reality exhibition where people wore Oculus headset and experienced full virtual reality world into the mountains in the name of launching a model of the shoe into the market (Barnham). In his research, Barnham stated that the trend force suggests a steady growth in the manufacture of VR devices from 10000 million USD in 2016 to 70000 million USD in twenty 2020.
According to the 2016 UK Virtual Reality Consumer Report, a survey that was carried out online reveals that only 77% of the consumers are aware of the virtual reality (Daymon and Immy 12). This value is still remarkably low, for such a big economy as the UK. This is especially due to lack of proper awareness creation and inefficiency in product promotion techniques (Carter 125). This in particular calls for another market research to establish the most efficient way that virtual reality can be integrated into digital marketing in the UK (15).
This section focuses on the research technique that will be employed in the study so as to achieve the set objectives.
A quantitative research design will be used to address the research question. This design is considered fundamental in examining the relationship between the characteristics under study and to provide appropriate response to the research questions. Furthermore, the design will give a solid statistical relationship between digital marketing and virtual reality.
Population, Sample and Sampling Procedure
This study will target individuals who use technology especially mobile applications technology. The study will be restricted to North London in the UK with an estimated population of 1.042 million. A sample of 1000 people (0.1%) of the total population will be randomly selected (Godin and Rawaida). Keeping in mind that this study focuses on the new technology in marketing, the sample will be composed of 60% youths. Questionnaires will be designed and administered alongside interviewing. For comparison purposes, the statistics department will be contacted for additional information on the efficiency of other marketing techniques used in the past.
The researcher will collect data in a period of two weeks, which will be enough time to cover the vital areas and also obtain data to facilitate the investigation. A follow-up will be conducted another two weeks after this to ensure that all the questionnaires are collected and the area well covered.
The study will adhere to the ethical expectation of a standard research. Before the study, the researcher will ensure that he/she gets the permission from relevant authorities to conduct the research in the target area. The confidentiality of the information collected will be ensured and hence the participants will be urged to give honest information concerning the questions asked.
Analysis of Data
The researcher will analyze numerical information using the Statistical Package for Social Sciences (SPSS) software. This will help in data coding and analyzing the raw data into a form that can be used to draw meaningful conclusions.