Article:

The Metaverse is a parallel virtual world. It consists of multiple interoperable online spaces, where people (as digital avatars) can shop, trade, travel, socialize, and interact with one another. The goal is to offer a hyper-real alternative world for the one that you currently live in.

The age of digital dependency has transformed consumer behavior. Partly because of the coronavirus pandemic, more people are shopping, working, playing, and learning online. The metaverse promises a phygital (physical and digital) solution. It seeks to blur the line between physical and virtual reality and change how we experience the world. With Gen Zs dominating the metaverse, we cant stress enough their value as consumers.

The metaverse promises a highly connected life. It will bring forward a digital revolution in which our physical and virtual lives fully converge. We will be connected in unimaginable ways while every entity within the digital world will need to be represented. This means objects can be owned, sold, or transferred within the metaversethis is where non-fungible tokens (NFTs) come in. NFT technology will grant holders true ownership over digital items. In July 2021, Coca-Cola launched a non-fungible token (NFT) collection that fetched $575,000 in an online auction. Gucci Selling Digital Bags That Are More Expensive Than the Physical Bag. Burberry a fashion brand is venturing into the metaverse, intending to give its customers a pleasurable experience that nears that of the real world. The fashion brand recently collaborated with the video game Honor of Kings, bringing Burberry designs to the game

Questions:

1. How Metaverse marketing can attract consumer attention? Why do you think Marketers are trying to occupy digital spaces? Was Marketing in the real-world not enough? Which concepts from chapter 5 (or 1,2,3) are applicable here and how? (250-300 words)

2. Why would a consumer buy a product on metaverse when he/she is not going to consume it in real? Which concepts from chapter 5 are applicable here and how? (250-300 words)

3. Which hierarchy of needs are metaverse marketers trying to target? Justify and explain? (250-300 words)

4. What do you think about the scope of Metaverse marketing in U.A.E.? Do you think consumers in UAE would respond positively to such campaigns? Give reasons and justifications. (250-300 words)