The Future of Virtual Reality in Marketing and Advertising: Benefits and Challenges for Business

Abstract

The purpose of the study is to summarise the features of the application, advantages, disadvantages, as well as to develop an effective toolkit for the implementation of virtual reality as a means of marketing promotion for modern companies. Methodology: The study is based on the use of general scientific methods, including analysis, synthesis, induction, deduction, generalisation, and systematisation. As a result of the study and achievement of the set goal, the following results were obtained: the essence and features of the use of virtual reality in business and product promotion were determined; the advantages and disadvantages of using virtual reality in marketing were specified; the main tools for implementing virtual reality in the marketing activities of modern companies were systematised. The scientific novelty of the obtained results lies in the development of specific areas of application of virtual and augmented reality for marketing promotion of products on the market. At the same time, the author takes into account the experience of the world's leading companies and considers a significant list of advantages and disadvantages of marketing use of virtual and augmented reality. In conclusion, it is worth noting that virtual reality can be used as an effective marketing tool that reaches a large audience and significantly increases the likelihood of product purchase. In general, virtual and augmented reality open up new marketing opportunities by creating unique immersive experiences, which can significantly improve conversion rates and sales. In the future, these technologies will become even more popular and play a key role in marketing.