The It is clear why these brands are

The UK is home to key players in the industry right
now, all making their mark in the space through game development and VR video
production, creating this hive for VR investment activity and creation. Greenlight VR’s
report surveyed over 1,000 respondents throughout the United Kingdom on their
awareness of virtual reality, interest in purchasing headsets, trying
applications and general concerns surrounding VR adoption. But according to a
new report from Greenlight VR and Super Awesome, the key to success for virtual
reality is still going to be driving greater awareness with consumers about the
new technology, rather than investment commitments and content development. Although
familiarity among UK consumers is low, at least some 77% are aware or have
heard of virtual reality. The data paints a more positive picture with younger
consumers though, with 48% of Gen Z respondents (age 10-17) claiming being
familiar with recent VR developments and 71% saying they will either purchase a
headset themselves or ask their parents to make the purchase for them. When it
comes to UK awareness of virtual reality, the data shows that surprisingly only
8% of respondents were confident to say they ‘knew a lot’ about the technological
developments in VR compared to 23% that had never heard of virtual reality
(that’s better than the US where it was as high as 25%).apparel brand Merrell
is one example of a business trying to get to grips with this immersive
technology. They’ve even added in a touchline streaker, to make the experience
all the more realistic. This was the first commercial use of an in-motion
Oculus Rift experience. It is clear why these brands are making the investment
into VR. Nike has also dipped their toe into VR advertising, allowing you to feel
what it’s like to play football as Barcelona and Brazil star, Neymar. TrailScape virtual hike took consumers on a mountainous
journey, to showcase the capabilities of their kit in extreme scenarios,
including rope walkways, shaking wooden planks, and landslide.With consumers of
all ages becoming more tech-savvy than ever before, if brands can show that
they share these values for innovation, more brand loyalty will naturally
follow. While it is still important for brands to create something memorable
that consumers will share, consumers are expecting brands to go beyond
traditional measures to provide a way for them to fufill a fundamental human
need by giving them the control to create.When the internet of things  becomes the internet of experiences, brands
must not only connect consumers to experiences, but also allow them to
participate in them.Due to the advancement in technology, we are starting to
see a lot of add-ons from brands looking to enhance consumer experience, like
the VR device that adds scent to VR games. While brands continue to introduce
software that enhances the way humans perform, emotional intelligence and
emotional conncection should also be considered amid development. These
consumers experienced first-hand that they can go collect virtual experiences
in the real world .Adding these elements is key to our emotional responses,
memory and how we experience things ,improving the virtual experience economy
as a whole ofcourse, far more people are aware of the app now, which has led to
heightened expectations for brands to deliver the similar sense of wonder and
excitement. As you may already know, half a billion (with a B) consumers last
year embraced Pokemon Go in just a few months.2016), $3.5 billion is the value
of the 225 AR and VR venture capital investments made in the last two years. With
so much money invested in this realm by VC funds, we will continue to see a lot
of development  in this space in the
future. In fact, according to Goldman Sachs (Jan. If these digital,
virtual experiences, are getting better by the day and can reach people around
the world, what does that mean for your brand? The virtual experience economy
is an exciting new possibility for retail — providing a dynamic approach to
storytelling that unlocks all kinds of new things consumers may otherwise not
be able to afford or participate in. More recently we
have seen the widespread of services such as Style Theory, which provides a new
temporary wardrobe for their customers every month, or Pokémon Go, enabling
users to experience highly engaging virtual realities.This shift in behaviour
has created a fertile breeding ground for the proliferation of services such as
Airbnb, Lyft and TaskRabbit.Their children, the ‘millennials’, are less
interested in ownership and more interested in access on demand to products and
services.The experience economy is increasingly becoming virtual and shared
with peers.Baby boomers have lived in an economy based on the possession of
things.During the last decade we have witnessed the rise of the sharing
economy. VR’s use of headsets aims to eliminate other stimuli, with the visor and
the use of headphones to control auditory outputs creating a digitalised world
that is eerily real.M was an early adopter of VR, deploying the
technology to create pop-up virtual reality showrooms as part of the launch of
its homewares range.The ways that VR and AR aim to alter perceptions of reality
to create an immersive experience are different and enhance the retail
experience in distinct ways.Tesco used AR technology to allow customers to
visualise key products within the comfort of their homes with an augmented
version of its Home Book catalogue.Apple’s upcoming ARKit platform, set to be
rolled out later this year with the new iPhone, means that the opportunities
for retailers are only going to become broader.IKEA launched its own virtual
store, which enabled customers to visualise a new kitchen in their home.

4A and 4P (Conceptual Framework)

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To understand what is required to achieve success
with customers, marketers need other tools to complement the 4P’s model. This
description is factually accurate, but that doesn’t mean that the 4P’s model is
flawed. It simply means that the 4P’s were never designed to describe what is
needed to be successful from the customer’s perspective. One frequent criticism
is that the 4P’s focus on the selling organization rather than on the customer the
4P’s model has been criticized for a variety of reasons. 4A strategy should be
adopted to identify the consumer behaviour. Firstly companies should not take
the step for bulk production cause if the consumer behaviour do not reply
positive then the companies should stop to implement the further steps, but
according market report which was mentioned in earlier that companies of
virtual reality  industry should not be
worried for the upcoming steps for the business in UK. While it is still
important for brands to create something memorable that consumers will share,
consumers are expecting brands to go beyond traditional measures to provide a
way for them to fufill a fundamental human need by giving them the control to
create. When the internet of things  becomes the internet of experiences, brands
must not only connect consumers to experiences, but also allow them to
participate in them. Due to the advancement in technology, we are starting to
see a lot of add-ons from brands looking to enhance consumer experience, like
the VR device that adds scent to VR games. While brands continue to introduce
software that enhances the way humans perform, emotional intelligence and
emotional conncection should also be considered amid development. These
consumers experienced first-hand that they can go collect virtual experiences
in the real world .Adding these elements is key to our emotional responses,
memory and how we experience things ,improving the virtual experience economy
as a whole ofcourse, far more people are aware of the app now, which has led to
heightened expectations for brands to deliver the similar sense of wonder and
excitement. VR is not only for to play games it can be useful for business
world as well. British startup Virtual Speech has developed an application which uses a
headset that lets you practice a presentation inside a virtual environment
similar to that which you will ultimately present in, whether that’s a
boardroom, a hall or in a pitch environment. Using VR to place the person being
trained at the machine itself, and walking them through how to operate it in a
virtual environment, will mean that the employee is much more familiar with
operating procedures when they ultimately use the machinery in real life.VR
training allows you to deliver large amounts of complex information in a way
that’s more easily absorbed than conventional video or a book.The larger the
business, the more likely it is that there’s a need for bespoke training
programmes taken by employees over long or short periods of time.4As model is
the “KEY OF SUCCESS” according the perception of implementation of business.

Conclusion

For new start up
product companies should be aware about the consumer behaviour trends, so for
that companies can identify the requirements of the consumers. If the new
product can change the behaviour of the consumer towards the product then the
in other words if the product can attract the consumer then that product have
the ability to control the behaviour of the consumer and the companies can
achieve their goals. Consumer behaviour is the most important aspect of a
business organisation, without identification of consumer behaviour a companies
cannot achieve their goals. Using this approach will help
marketers determine the best deployment of VR/AR activity to enhance the
customer experience.It is important to remember that despite the proliferation
of technology and the impact this has had on consumer behaviour, the mental
process shoppers use to make decisions remains unchanged. Heuristics are the
hardwired shortcuts all consumers use to make decisions, and the basis for
behavioural science. Ahead of the point of sale, consumers like to feel like
they have some level of ownership without having to commit too much money or
effort—it’s the classic sampling trick. This is where behavioural science comes
in as a key tool for marketers. Proper planning is crucial to the long-term
success of AR/VR in retail. There are 128 in total, and we have identified the
nine that are most relevant to making purchase decisions. VR and AR technology
can enable consumers to try products before they buy. When thinking about VR
and AR, retailers could consider the value of ownership—one of the sales
triggers.

 

Recommendation

Firstly companies
should not take the step for bulk production cause if the consumer behaviour do
not reply positive then the companies should stop to implement the further
steps, but according market report which was mentioned in earlier that
companies of virtual reality industry should not be worried for the upcoming
steps for the business in UK.While brands continue to introduce software that
enhances the way humans perform, emotional intelligence and emotional connection
should also be considered amid development. it is
still important for brands to create something memorable that consumers will
share, consumers are expecting brands to go beyond traditional measures to
provide a way for them to fufill a fundamental human need by giving them the
control to create. Using this approach will help marketers determine the best
deployment of VR/AR activity to enhance the customer experience. It is
important to remember that despite the proliferation of technology and the
impact this has had on consumer behaviour, the mental process shoppers use to
make decisions remains unchanged. Heuristics are the hardwired shortcuts all
consumers use to make decisions, and the basis for behavioural science. Ahead
of the point of sale, consumers like to feel like they have some level of
ownership without having to commit too much money or effort it’s the classic
sampling trick. Sampling is the another key point where companies can detect
the behaviour. Sampling can be implement thorough promotions. Promotions can help
to reach the consumers mind. Companies should target all types of consumer and
all types of industries as well. If the companies will target all the
industries then in united kingdom then the VR companies have the opportunities
to increase the sales volume. Marketing is a process of educating consumers
about the future product, and marketers should identify the new way to
understand the consumer behaviour and according that they should modify the VR
product more flexible according the requirement of consumers.