Marketing in the Metaverse Universe: Process, Metrics, Consumer Behavior and Challenges

As the Metaverse advances further as a commerce platform, the topic of Metaverse marketing has sparked many discussions. Marketing and the Metaverse are interwoven fields which can be used to enhance one another. The evolution of consumer behavior creates an increased need for immersive new ways to interact with and learn about products and services. This paper aims to review marketing concepts and examine how they may support marketing in various Metaverse platforms. It will analyze how the Metaverse will change the practice, process and metrics of marketing. Conceptual artifacts around customer decisions and the transactions in the Metaverse are proposed. To better understand and trial these artifacts, Metaverse universes have been explored and a proof of concept was implemented in Roblox. The implemented scenario showcased the viability of the marketing mix of Product, Promotion, Price, Place, Process, People, and Physical evidence within the context of the Metaverse universes.