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The market launch and development of a marketing mix strategy for the virtual reality platform Cybercinity

  • Zoom fatigue - a phenomenon that has been occurring during the COVID-19 pandemic. Social distancing regulations forced numerous companies into home office, which shifted the internal communication to video conferencing platforms. Nevertheless, these solutions do not offer the same interactive atmosphere and social factor as face-to-face meetings. That is the reason why some people experienced a sense of distance and a lack of motivation and concentration. Virtual reality collaboration platforms are a digital solution resembling a serious game situation that could solve the problem of impersonal teamwork. With this application users could meet in the virtual space, giving them enhanced possibilities to interact with their team members and work together on projects regardless of the distances in location. As the platform is an innovation that is new to the market, the awareness about this product is not yet widely spread. With the help of an effective marketing mix and a market launch strategy, potential users should therefore be informed about this possibility, leading to a successful implementation of the platform in various institutions. To gain insights into the market and gather information about the target group an analysis through literature research as well as a survey has been carried out. The results showed that the market shows a general interest in virtual reality collaboration platforms. Nevertheless, several respondents expressed their lack of understanding and imagination to use the platform constructively in their professional environment. Additionally, expected high expenses and the lack of technical equipment could be an obstacle to implementing virtual reality collaboration platforms in traditional work processes. Therefore, the mission for the market launch strategy will be to develop a marketing mix that responds effectively to all questions and inspires organisations to discover their possibilities and benefits with this digital solution.

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Author:Beatrix Patricia Désirée Nitschke
Advisor:Wolf-Dietrich Schneider
Document Type:Bachelor Thesis
Year of Completion:2021
Granting Institution:Hochschule Furtwangen
Date of final exam:2021/02/28
Release Date:2021/03/29
Tag:Business strategy; Market launch; Marketing mix; Virtual reality
Page Number:126
Degree Program:IBM - International Business Management
Functional area:Marketing
Licence (German):License LogoUrheberrechtlich geschützt