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BRAND VALUE IN VIRTUAL WORLDS: AN AXIOLOGICAL APPROACH

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Consumer Behavior in Brand Consumption and Identification Marketing and Advertising Strategies Digital Marketing and Social Media

Abstract

Online virtual worlds, including Second Life, are rapidly becoming recognized as an important new channel for marketing and brand-building. However, the nature of the channel and its consumers or users is likely to be quite different to other channels, including the Web. Consequently, this may have knock-on effects for traditional multi-channel brand management strategies. In an effort to understand this new channel, this paper details exploratory research aimed at assessing the brand value of real-life brands that have moved to the virtual world of Second Life. Using axiology, we develop a scale to measure brand value and then assess the value of eight real-life brands in Second Life. The results demonstrate both the value of the methodology and the apparent differences in consumer perceptions of brand in the virtual world. The paper rounds off with conclusions and implications for future research and practice in this very new area.

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References

1988Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence 2017A THEORY OF HUMAN MOTIVATION 1997Finding flow: the psychology of engagement with everyday life 1999The experience economy: work is theatre & every business a stage 1989Validating Instruments in MIS Research1 2006Synthetic worlds: the business and culture of online games 2002Impact of 3-D Advertising on Product Knowledge, Brand Attitude, and Purchase Intention: The Mediating Role of Presence 1999Business Market Management: : Understanding, Creating, and Delivering Value

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2011Virtual worlds: A gateway for SMEs toward internationalization 2012The effects of sequential combinations of virtual experience, direct experience, and indirect experience: the moderating roles of need for touch and product involvement 2009Flagship Brand Stores within Virtual Worlds: The Impact of Virtual Store Exposure on Real-Life Attitude toward the Brand and Purchase Intent 2011Exploring the fit of real brands in theSecond Life1virtual world 2020Consumer Experience and Omnichannel Behavior in Various Sales Atmospheres

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