DIVE BRIEF Adidas, Snapchat partner for exclusive Bitmoji Fashion Drop Published Dec. 7, 2022 Dive Brief: Adidas and Snapchat have joined forces to launch a Bitmoji Fashion Drop allowing app users to dress their Bitmoji avatars in branded virtual merchandise, per details shared with Marketing Dive. Featured in the limited-time release is an Into the Metaverse track jacket that boasts an Adidas Web3 logo and the brand's signature stripes. Snapchat users can purchase the jacket from Dec. 6 until Dec. 9. for 250 Snap Tokens, obtainable within the app. The latest tie-up between Adidas and Snap continues an ongoing partnership between the two and sees the clothing retailer further exploring the virtual wearable space. The effort also sees Snapchat continuing to prioritize digital personalization. . . Read the case study/ article below and answer ALL questions. . Dive Insight: In the quest to be a top-choice clothing retailer of virtual worlds, Adidas is working closely MBA 5043: Marketing Management January 2023 CONFIDENTIAL 3/3 with Snapchat. Aside from its latest tie-up with the app's personalizable Bitmoji avatars, the two have come together for exclusive clothing collections, World Cup activations and even the opportunity to be the first brand to utilize the "unlockable" Bitmoji experience. To access the Into the Metaverse yellow track jacket, users can click their profile icon within the app to reveal an Adidas Bitmoji Drop Banner. Then, users must pay 250 Snap Tokens, which can be purchased using Apple Pay or Google Pay within the in-app Token Shop. In the U.S., 250 tokens can be purchased for $2.99. Though the buy window is only open for a limited time, those who purchase the piece will have it added to their virtual closet for use following the drop. Virtual wearables became a major focus for Adidas this year. In November, the brand created a new product category for virtual gear as part of its metaverse strategy. The clothing is designed for digital avatars and is compatible with other virtual worlds, and also arrived as Adidas released its first non-fungible token collection of wearables. The move alludes to growing interest among clothing retailers in how they can fit into the metaverse, with Nike around that same time launching. Swoosh, a marketplace to collect and eventually trade virtual goods. In pursuit of personal experiences, Bitmojis have proven successful for Snapchat, with over one billion avatars having been created and over 250 million people using them each day, per data shared with Marketing Dive. Bitmoji Drops have been equally positive since launching in September in one collaboration with Nike, Air Jordan 2 x J Balvin sneakers were featured in a first-ever limited-edition drop that saw over two million Snapchat users claim the virtual shoes in a two-day period. Questions: Aside from its Bitmojis, Snapchat has its eye on other digital experiences, namely augmented reality. In its latest earnings call, Snap outlined three key priorities, with AR being one of them. The focus isn't without reason, either, with Snapchat seeing over 250 million users engaging with its AR experiences per day on average. Some have taken advantage of the virtual experience, like American Eagle, which largely shaped its holiday efforts around the technology. Snapchat in November partnered with Amazon Fashion to allow consumers to try on thousands of eyewear brands and styles from their phones. 1. Critically review the above partnership between Adidas and Snapchat from marketing perspectives. (20 Marks) 2. Rapid change in technology involving Internet of Things, Artificial Intelligence and augmented reality is the most dramatic force in changing the marketplace. Based on the article above, elaborate the effect augmented reality advantages to the consumers and marketers from the rapid changing of technology. (20 marks)