MCR007 Introduction To Project Management Assignment Sample

Design a project proposal related to either your home or workplace (such as a planned extension, overhaul or refurbishment, IT infrastructure expansion) or a large private function for an extensive audience (for example, a wedding reception or a music festival or a marketing promotional campaign) or the establishment of a hypothetical business. You should look at a problem that needs to be solved or an opportunity that could be exploited through the implementation of a project proposal. Prepare a detailed analysis incorporating all discrete tasks, costs, time frames resources, outcomes, stakeholders and contingencies.

NOTE: This assessment MUST be in an essay format and address the planning of an original proposal, not an evaluation of a project proposal that has already been undertaken.

WORD LENGTH: 1,000 words (approx.).

Solution

Introduction

The recent outbreak of the pandemic has increased the concern of the customer towards the green products. The brand Kiya is an online fashion brand operating in the UK and is willing to launch a “shift for green campaigns" to propose their new green and sustainable fashion product so that the attention of the customer could be derived and the brand could make a profit in the market.

Background

Kiya is a unisex fashion brand that is willing to derive the attention of the customer towards its newly launched sustainable product line. In the process of doing so, the need for a well-organised marketing campaign is a must. Vafaei et al. (2019) opined that green marketing is helpful in promoting sustainable products among customers. It promotes sustainable fashion and thus ensures in developing the brand equity. As the fashion needs of the customer are changing, the use of marketing campaigns has become essential to develop the buying influencers so that success in the complex market can be gained. The focus is this made to launch the shift to a green campaign successfully.

Scope

The project will be executed online using social media sites. The entire campaign will be virtual, and thus the estimated cost for it is limited. The customer of Kiya, as well as the other environmentally concerned fashion customers, will be targeted as per the proposed campaigns. A team of expert marketers with good internet connectivity along with gadgets like mobile and laptops are the key requirements for this campaign's launch and decision. The campaigns will focus on the resident of the UK, and this measure focuses on the fashion enthusiast who is willing to contribute tirades the environment with their small change in fashion purchases.

Objectives

Objective 1

Objective 2

Objective 3

WBS or Phases of Work

Figure 1: WBS
(Source: Self developed)

Bizarrias et al. (2020) opined that the execution of a project needs planned approaches. It is to reduce confusion and execute successful outcomes. The “shift to green” campaign will have five distinct phases such as initiation, planning, execution, control and closure. Each phase is a milestone in the case of meeting the desired objectives.

Metrics for Evaluating and Monitoring

The key Performances Indicator used to evaluate the proposed marketing camping for assignment help are revenue growth, the rise in sales of the green product range, the enhancement of brand equity well, and customer satisfaction enhancement. Lima & Cruz (2019) were of the opinion that the KPI is effective in monitoring the successful nature of the proposed plan. It outlines the degree to which the motive is achieved. In this campaign, the mentioned KPI would act as guidance to derive profitable outcomes for Kiya in launching their green fashion products.

Timeline

Budget 50

Risk Assessment

Conclusion

The “shift to green” campaign will be helpful in boosting the sakes of “green product rage” of Kiya in the UK market. The campaign on social media will be able to attack the wide customer base and thus encourage them the shift in their buying, which could help contribute towards environmental protecting. The expert involvement and virtual approaches of the prosed campaign are sure to derive productive outcomes for Kiya. The brand will be able to gain customer attention and thus leads to the development of brand equity for future sales as well.

Reference List

BAS121 A Fundamentals of Marketing Assignment Sample

Assignment Brief

The assignment is served as two purposes:

• To assess students’ knowledge about contemporary issue of marketing

• To diagnostic test of the students’ writing and referencing skills. 15% of your course grade is allocated to this assessment.

TASK

• Write a short essay [word limit: 700 words (±10%) (excluding reference list] based on the following topic:

Essay topic:

Metaverse is the virtual reality and mixed reality worlds accessed through a browser or headset, which allows people to have real-time interactions and experiences across distances.

Many companies have hopped on board the metaverse bandwagon also envision some sort of new digital economy, in which users can create, buy, and sell goods.

However, this is more difficult than it seems. Discuss, with specific examples:

a) The impact on marketing activities of the metaverse
b) How the metaverse can help create and capture customer value
c) What are the social concerns about the metaverse?

INSTRUCTIONS

• The response should be professionally written

You are required to respond to the statement above and write the responses in an essay format. The points of this assessment are to test your knowledge on contemporary marketing issues as well as to provide students with an at-risk assessment.

As the assessment asks for the opinion, the arguments need to be supported with reliable sources of information. It is expected that the students will cite at least 4 references. Please be sure to include relevant theory to support your answer, including academic journal articles accessed via Google Scholar, EBSCO Host etc., as well as industry reports (IBIS World, McKinsey, Deloitte). You must use Harvard referencing in both the written report and the presentation. Please refrain from using internet sources like essay.com. marketing.com, seminar slides, dictionaries, about.com. In addition, at UBSS copying from a source without proper acknowledgement is severely penalised as leaving paragraphs and sentences without a citation. Quality and insights are more important than quantity – you can only do this if you read and understand the articles

• You should strive to write in as clear a manner as possible, using well- constructed paragraphs, and avoiding bullet points, incomplete sentences, or overly formal or informal language.

• Format: Arial 12pt or Times New Roman 12pt, double space

• Provide a list of references (Harvard Style)

• Upload your document to the appropriate assignment link on Moodle

• Name your file using the following convention: BAS121 Student ID FirstName.docx

Solution

Introduction

Metaverse refers to a cluster of all the virtual space that is established with the help of blockchain applications. The purpose of this study is to demonstrate the impact of the Metaverse and its importance in creating value for consumers. It will also discuss the social treatment of Metaverse in the current time.

Metaverse has brought a plethora of opportunities for business establishments to reach a huge mass of customers in such a manner that leads to a symbiotic relationship between consumers and brands (Dwivedi et al., 2022). Metaverse has a positive impact on companies as it has helped companies with immersive marketing practices. For best assignment help It has aided entrepreneurs in establishing many manifold chances to converse with the base of consumers more engagingly. It also aided marketers to experience virtual reality by traditionally browsing over the internet. Through Metaverse, brand establishments can be able to interact with its consumers along with showing them the goods and commodities. As an instance, Asos is one of the online apparel companies in the UK that is using Metaverse for showing the pictures and videos of its products to consumers to fascinate them so that the company can be able to achieve a huge market share in the long run (Yang et al., 2022). It is worth saying that utilisation of Metaverse helps in the engagement of experiences of consumers and due to this ground the company is quite hopeful regarding advantages in the global market.

Metaverse also helps companies in elevating their market position by enhancing sundry marketing action plans. One of the biggest advantages that Metaverse brings is the pertaining of the manufacturing aligning with facts that leads to the growth of the company (Xi et al., 2022).

Asos has a partnership with Metaverse which is based on the grounds that Metaverse supported games will show the logo of Asos so that the reputation of the brand intensifies. Metaverse has promotional opportunities to the organisations through which the companies can be able to reach a large number of consumers and as a result, the brand value of these firms is going to magnify (Bowler, 2022). It is one of the vital marketing tactics that the companies are using for manufacturing unique NFT, advertisements using virtual display and other events conducted digitally (Kim, 2021). Marketing through Metaverse is different from two-dimensional marketing practices as Metaverse helps consumers to find the most suitable product in the virtual arena. Metaverse provides such an opportunity to the organisations that it can reach a large number of consumers within a short span of time.

Figure 1: Metaverse Hype cycle
Source: (Bar-Zeev, 2022)

Hence, it is a significant reason that the companies are able to reach customer values and its level of sales increases that leads to profit maximisation. Starbucks has also entered the arena of Metaverse and it is offering its loyal consumers limited NFTs through which they can be able to unlock more reward points (Fantozzi, 2022). This has helped the company to gain competitive advantage and the values of consumers as well. Apart from the positive impacts of Metaverse it also poses huge threats to companies in manifold ways. Some of the social concerns are as follows

Metaverse is considered to be the future version of the internet and the usage of augmented technology gives rise to the threats of privacy policies. It uses some technology that is used to track human activities. For instance, VR-headsets have this technology that tracks the activities of humans and hence poses a great challenge to the privacy concerns (Park and Kim, 2022). Metaverse has an adverse impact on the health of people as they experience an amazingly immersive world that is pure virtual that at times makes people depressed and anxious. Metaverse has made people addicted towards gaming and it has become one of the biggest challenges for the kids as well (Nica et al., 2022). Hence, getting hooked with the usage of Metaverse poses huge threats for the health of kids and it gives greater problems for the future career of people. It is significant that for the usage of augmented reality access to the internet is quite important. However, internet connectivity for people is quite expensive and as a result it is not accessed by many people (Park and Kim, 2022). Taking an example of VR handsets needs high-tech connectivity which is not possible for a section of the population.

Conclusion

It is inferred from the study that the advantages, social concerns and impact of Metaverse in bringing value to the company is discussed here.

Reference List

MCR008A Corporate Strategy Assignment Sample

Choose ONE business from the companies listed below. All are clear leaders in their industries, although all have strong rivals.

Nike
Apple
Allianz
Costco
Netflix
Starbucks

Analyse the business that you have selected, identifying the company’s core competencies, resource capabilities and outcomes. Evaluate those characteristics against of ONE of its competitors. Students will need to demonstrate an in-depth knowledge and practical application of key business theories, concepts and models addressed during this course. This assessment must be in an essay format and 1,000 words (approx.) in length.

Solution

Introduction

Nike is selected as a core company in order to identify its basic factors and analyze its business cases. To identify Nike’s core business factors including competencies, resource capabilities, and corresponding outcomes, an in-depth analysis has been done. According to the current market environment and customer needs, Nike is facing some competitive challenges from Puma, Adidas, and other similar brands. An essay is written to demonstrate the key theories, concepts, and models of Nike's business. In this manner, a comprehensive description is articulated including a business overview, core competencies, resource capabilities, and past & predictive business outcomes.

Essay: For the Case of Nike

Business overview

The company Nike Inc is a USA-based organization that was practicing the design, development, and manufacturing operation of majorly athletic footwear, accessories, apparel, and other equipment(About Nike 2022). The company was started in 1964 with the name Blue ribbon sports, they started with the sale of imported shoes, and the sale of suchlow cost but high-quality shoes showed them thatthe alternative of so-called named brands like Adidas and PUMA is possible. The work quality and correct business strategy implemented by Nike made it the largest worldwide athletic footwear company(Business Strategy Hub 2022). The company latest in the fiscal year of 2022 generated a revenue of approx. 10.9 billion dollars which is approximately 5% greater than the last year's revenue generated. The Digital sales of Nike is even increased by approximately 20%. The increase in profit and revenue by the company shows that the customer alignment is keep on increasing towards the company(About Nike 2022). The essay is designed to obtain an idea about the business strategies of Nike. The essay will limelight’s the competitors of the company and will show the core competencies, the resource capabilities, and the outcomes(About Nike 2022). The essay for assignment help will provide a comparative analysis between Nike and its core competitors.

Core competencies

The growth cannot be defined from a single parameter and hence the same is with core competencies. The parameters like Team diversity, work culture, manufacturing standards, and customer relations define the overall business strategy(Pratap 2018). The overall strategy will lead the business in the performed direction. The study about the company shows that the core strategies followed by Nike are oriented towards their customers. Their current strategy is the involvement of sustainability in the operations of the company like manufacturing and innovations(Pratap 2018). Their Diversity in the team, strong department of Research and development, and high standards for quality control separate them apart from their core competitors. The other competitors in the market like Fila, Puma, Adidas, New Balance, etc. The diversity among the board members promotes asense of belongingness among customers. The Puma suffers a loss in 2020 due to this non-diversity among board members. The other benefit that Nike takes over other competitors is due to its best marketing practices. They involve sports athletes to connect emotionally to their customers and maintain the up mark of the quality of their products. They invest more, produce more, and hence earn more consumer trust and income(Morgan et al. 2019). Unlike the other athletics product companies,Nike focuses more on selling touchy stories than the amazing products. Nike has always created a sense of belongingness among their customers. This has helped Nike to raise the company to heights of success.

Resource capabilities

There are various pillars that are covered in the criteria of resource capabilities, which support the organization sustainably. These include customer loyalty, innovations in products their manufacturing and marketing capability, funds, market distribution, and customer base. The SWOT analysis performed on the Nike results in the following results:

Strength: The brand image and value that Nike has created makes it representable among the other customers. The high brand name does not only mean high popularity but also makes it a trustable brand. Another factor is its financial strength and marketing strategy. The financial strength of the company in the USA and the global market is much more than its other competitors in the market. The other factor that came out is its presence visibility in the international market(Paul et al. 2019).
Weaknesses: The dependency of the company is mostly on the US market. The revenue generated by the company is dependent on the US market. The company has high overseas marketing expenses.

Opportunities: The other opportunity that Nike can take advantage of is acquiring other companies and using them for manufacturing their product. Since being an Athletics product giant in the market Nike possesses enough capital and resources to acquire other companies(Pratap 2018).

Threats: The Competition in the market keeps on rising, and hence Nike also needs to work in the same sequence to raise its value in the market, to beat that competitor in such a diversifying and challenging market. The Expenses of the company are also increasing on the marketing side so to cope with them parallelly the company needs to pay more attention to the side of financial management.

The resource capabilities of Nike can also be assessed using below table-

Table 1: Resource Capability Table

(Source: Pratap 2018)

Past and predictive outcomes

The company’s past information regarding its revenue generation in the financial year 2017,2019, and 2020, shows that the company is a profit-making organization and ruling in the hearts of its customers(Pratap 2018). The company compared to its other competitors is leading and its financial statistics show that. An article shows that it has a 6% growth in the year 2016 and rise to 34.4 billion dollars in 2017. In 2017 the company has a total of approx. 750 retail stores overseas. Adidas which is a shoe giant in the world, and a large competitor of Nike reports a revenue of 21.218 billion euros in the year 2018,and in the same financial year, Nike has earned a considerable profit(Pratap 2018). Nike has reported an overall increase of approx. 5% in the first quarter of FY 2022. The profits are the results which are showing the result of Nike’s work and in the same sequence, Nike is progressing. The stock forecast on Nike also recommends the purchase of Nike shares which shows the positive outcomes from the company’s side.

Outcomes

So, it can be said that Nike when came to market with a business idea, defeated their competitors who were already well established in this business, they have not only achieved the market trust but also used correct business strategies to execute their operations. Thus, the innovation, competitiveness, and revenue growth of Nike are shown below-

Figure 1: Nike's top performance based on innovation
(Source: Stevens 2020)

Figure 2: Competitive Value
(Source: Stevens 2020)

Figure 3: Revenue Growth
(Source: Stevens 2020)

Conclusion

As per the identification of different business factors of Nike and analysis of its business competencies, resource capabilities, and significant outcomes, the overall conclusion affirms that Nike focuses on robust and high-level business strategies through which they become capable to satisfy customer needs. Other similar worldwide brands like Adidas and Puma have been also in the race of becoming top market brands but Nike has strategic business tactics that help them to present their products with high quality in the form of the latest fashion and customer-specific. It has been also concluded that constant innovations in Nike product is the USP of this company which enabled them to obtain customer values, market trust, competitive advantages, high revenue growth, and future stability.
 

References

 BUSN20017 Effective Business Communication Assignment Sample

You will individually write a short self-reflection essay that analyses your personal communication experiences within the business context. You must pick one of following topics: defensive and supportive internal business communication, persuasive and/or influential internal business communication, or internal business email communication. You may pick the same topic as your individual group presentation topic, but please remember this essay focuses upon your personal communication experiences within the business context. With your chosen topic in mind, you must provide an example of effective and ineffective communication. Here you will need to explain why the communication is effective and why the communication is ineffective. Next, you will need to discuss what you could do to improve your identified ineffective communication. Here you will need to identify specific communication behaviours that would improve upon your ability to communicate (as directly related to your previously identified ineffective communication) within the business context.

For example, you could focus upon your workplace experiences with influential and/or persuasive internal business communication. Think about your experiences in this regard--What do you do well? What could be improved? Based upon your answers to these questions describe one internal influential and/or persuasive business communicative interaction that you did effectively and one influential and/or persuasive business communicative interaction that was ineffectively. Please make sure you back up each example by explaining why the communication is either effective or ineffective. Next, you will need to discuss how you would specifically change your ineffective communication—describe the remedial communication behaviours and justify why these behaviours would be effective.

Solution

Introduction

Communication holds an important place in every walk of life, whether professional or personal life. It is important to polish all types of communication patterns, including verbal, non-verbal and written, thus understanding self weakness and strengths. As per personal experiences, it can be ascertained that business communication in workplace scenarios is very crucial as it largely impacts profits, communication with peers and senior management, along with the satisfaction of all stakeholders that influences the business. The report is a reflective essay done through the Gibbs cycle that subcategorises experiences into description, feelings, evaluation, analysis, conclusion and action plan.

Gibbs Reflective cycle

The Gibbs Reflective cycle was originally developed in 1988 by Graham Gibbs to provide a structure for all types of learning experiences (Gibbs' Reflective Cycle for Writing Center Training, 2020). As per the assignment brief, personal experiences on different topics, although internal business communication or email, will be explored for this reflective cycle.

Description

Internal business communication holds an important place in workplace scenarios as routine tasks are dependent on clear and succinct communication from employees to employees or from employees to supervisors (Cavanagh et al., 2019). They are etiquette which needs to be followed while sending emails to seniors or colleagues. I want to reflect on three of my experiences while working as a desk customer service executive at a retail store. My job was to solve customer complaints transferred through toll-free numbers vis CRM portals; thus, I was required to talk to the client, understand the issue, contact the store, and seek a solution to email the unsolved complaints or grievances to headquarters. The email was important for every work responsibility while working as an apprentice in the company.

Once, I faced a very angry customer who had complained many times. However, his complaint was not satisfactorily solved, and he wanted evidence of how the retail company was processing his grievance. As usual, I contacted the store, inquired about the issue and understood that the problem could be only solved through headquarter intervention. Since the customer was very angry, I added the customer's email id with another attachment email that I was forwarding to the headquarter senior of mine. It was a breach as no external parties or clients could be added to internal communication through emails. This was the first time I got a warning email which meant my job was at stake if I did the mistake again. The second mistake I made was writing in capital letters while sending the email; my caps lock button; I did not check the text as I was in a hurry owing to professional reasons. The third experience was sending emails in fragmented form without including a subject and an attachment. The reader could not understand the email and the customer complaint or query remained unsolved. Reflecting on all three experiences regarding internal communication, I realised business communication holds an important place for satisfying customers, meeting responsibilities and ensuring business success. All three experiences I mentioned indicate that a lack of email writing knowledge makes the message ineffective, which could impact routine tasks and could lead to frequent conflicts. None of the complaints was solved in all three situations mentioned, after which my line manager had to intervene and generate a new mail chain while including all information or progress that had been made to the point. This delayed the process of customer experience enhancement and hence could impact the business reputation.

Feelings

Email errors are common among new interns and seniors who lack grabbing readers' attention to messages quoted within emails in workplaces (Cavanagh et al., 2019). Many workplaces rely on emails as their easiest mode of communication, while it also acts as evidence for referring to any situation or issue. When I encountered my first email experience by including a customer's email address in an internal process, I was warned by the manager and headquarters senior through harsh words. Although I realised my mistake and understood that communication through email followed etiquette, I did feel bad, so I should have included an external email address. However, I could have asked or inquired my line manager, which I could not do. In a second and third experience, I was only asked to resend it again with a warning that email etiquette should be followed to ensure the closure of customer complaints. I felt demotivated as I repeatedly made a mistake for which my line supervisor had to feel embarrassed as he was being questioned on training provided for me.

Evaluation

Email etiquette is important, along with following language, clear writing, and emotions portrayed through punctuation marks (Mascle, 2013). Reflecting on my experiences with internal communication through emails, I understood that I lacked email etiquette and basic knowledge of how communication through written and electronic mediums are done. I could have searched online or asked a colleague if the manager was not available before drafting emails. I should have read the text once and asked anyone if I felt something was not okay. None of the communication was effective due to incomplete messages or distracting readers' attention.

Analysis

Email etiquettes for assignment help are only polished if formal training and regular practice help to improve the receiver’s attention to the message. In everyday email communication, the reader must understand the message as it might include important details like instructions, changes in rules and policies, notices or any essential warning. Thus, written communications which are incomplete or lack the use of punctuation or subject lines might be misunderstood (Flynn et al., 2020). Thus, writing emails or formal written communication training should be given to all; it is vital for new employees. It is also essential for the existing workforce to update knowledge and skills for enhancing communication when body language and verbal cues are absent. I was provided with refresher training when I entered the organisation. However, the training was not given frequently, due to which I made mistakes that delayed the process of customer satisfaction. I seldom did not try learning new things or grasping information as I did not realise the consequences of miscommunications or improperly written emails. My communication was ineffective as once I distracted the reader's attention by writing in capital letters and involving a third party in internal matters due to pressure from the client. My communication was ineffective when I missed the subject line and attachment. The reader would not have read the mail as it lacked information on the content and the attachment, which disrupted the communication flow. I should have learned communication through writing by accessing help from colleagues, line managers, or available tools on the internet.

Conclusion

Written communication lacks verbal cues, body language or the presence of physical existence; thus, the sender needs to include all information clearly and concisely without missing any details, attachments, subject lines or punctuation marks. It is important to teach email writing or other forms of written internal communication to freshers or apprentices. Still, it is also vital that training be imparted to all staff frequently to make the communication process complete and effective (Flynn et al., 2020). All the steps should be taken to improve the overall communication patterns of the organisation as it impacts the culture and brand reputation.

Action Plan

Since then, I have started improving my communication patterns; although my written communication is still not the best now, I do not write more emails as I used to do earlier. If next time I face a similar situation, I would like to ask for help from seniors and colleagues and refer to self-learning tools for improving the same. I would also like to read through the job description more clearly and vividly to understand my role, polishing my communication skills and knowledge for delegating my responsibility more effectively. In addition, the internal communication skills that I would like to improve in the next six months would include writing crisp messages in longer emails, guiding the reader through paragraph flow, adding a catchy and correct subject line and finishing the mail with warmth and a feeling of being understood. I want to learn to send emails to different readers as it changes as per the audience. As for suppliers, simple language should be used. A personal element and information could be added for a colleague, while sending mails to headquarters requires a professional and brief message.

Conclusion

Communication is an important part of personal and professional life, although written communication is comparatively lesser-used than verbal ones. Hence, it becomes important to understand the tone of writing by including phrases and punctuation marks and including additional information like attachments. This reflective essay has made me understand that I need to learn the tone, audience type and brief emails in the next 6 months to make my communication more effective.
 

References
 

BAS121A Fundamentals of Marketing Assignment Sample

Essay topic:

Metaverse is the virtual reality and mixed reality worlds accessed through a browser or headset, which allows people to have real-time interactions and experiences across distances. Many companies have hopped on board the metaverse bandwagon and also envision some sort of new digital economy, in which users can create, buy, and sell goods.

However, this is more difficult than it seems. Discuss, with specific examples:

a) The impact on marketing activities of the metaverse
b) How the metaverse can help create and capture customer value
c) What are the social concerns about the metaverse?

INSTRUCTIONS

You are required to respond to the statement above and write the responses in an essay format. The points of this assessment are to test your knowledge on contemporary marketing issues as well as to provide students with an at-risk assessment.

As the assessment asks for the opinion, the arguments need to be supported with reliable sources of information. It is expected that the students will cite at least 4 references. Please be sure to include relevant theory to support your answer, including academic journal articles accessed via Google Scholar, EBSCO Host etc., as well as industry reports (IBIS World, McKinsey, Deloitte). You must use Harvard referencing in both the written report and the presentation. Please refrain from using internet sources like essay.com. marketing.com, seminar slides, dictionaries, about.com. In addition, at UBSS copying from a source without proper acknowledgement is severely penalised as leaving paragraphs and sentences without a citation. Quality and insights are more important than quantity – you can only do this if you read and understand the articles

Solution

Introduction

Metaverse refers to a cluster of all the virtual space that is established with the help of blockchain applications. The purpose of this study for assignment help is to demonstrate the impact of the Metaverse and its importance in creating value for consumers. It will also discuss the social treatment of Metaverse in the current time.

Discussion

Metaverse has brought a plethora of opportunities for business establishments to reach a huge mass of customers in such a manner that leads to a symbiotic relationship between consumers and brands (Dwivedi et al., 2022). Metaverse has a positive impact on companies as it has helped companies with immersive marketing practices. It has aided entrepreneurs in establishing many manifold chances to converse with the base of consumers more engagingly. It also aided marketers to experience virtual reality by traditionally browsing over the internet. Through Metaverse, brand establishments can be able to interact with its consumers along with showing them the goods and commodities. As an instance, Asos is one of the online apparel companies in the UK that is using Metaverse for showing the pictures and videos of its products to consumers to fascinate them so that the company can be able to achieve a huge market share in the long run (Yang et al., 2022). It is worth saying that utilisation of Metaverse helps in the engagement of experiences of consumers and due to this ground the company is quite hopeful regarding advantages in the global market.
Metaverse also helps companies in elevating their market position by enhancing sundry marketing action plans. One of the biggest advantages that Metaverse brings is the pertaining of the manufacturing aligning with facts that leads to the growth of the company (Xi et al., 2022).

Asos has a partnership with Metaverse which is based on the grounds that Metaverse supported games will show the logo of Asos so that the reputation of the brand intensifies. Metaverse has promotional opportunities to the organisations through which the companies can be able to reach a large number of consumers and as a result, the brand value of these firms is going to magnify (Bowler, 2022). It is one of the vital marketing tactics that the companies are using for manufacturing unique NFT, advertisements using virtual display and other events conducted digitally (Kim, 2021). Marketing through Metaverse is different from two-dimensional marketing practices as Metaverse helps consumers to find the most suitable product in the virtual arena. Metaverse provides such an opportunity to the organisations that it can reach a large number of consumers within a short span of time.

Figure 1: Metaverse Hype cycle
Source: (Bar-Zeev, 2022)

Hence, it is a significant reason that the companies are able to reach customer values and its level of sales increases that leads to profit maximisation. Starbucks has also entered the arena of Metaverse and it is offering its loyal consumers limited NFTs through which they can be able to unlock more reward points (Fantozzi, 2022). This has helped the company to gain competitive advantage and the values of consumers as well. Apart from the positive impacts of Metaverse it also poses huge threats to companies in manifold ways. Some of the social concerns are as follows

Metaverse is considered to be the future version of the internet and the usage of augmented technology gives rise to the threats of privacy policies. It uses some technology that is used to track human activities. For instance, VR-headsets have this technology that tracks the activities of humans and hence poses a great challenge to the privacy concerns (Park and Kim, 2022). Metaverse has an adverse impact on the health of people as they experience an amazingly immersive world that is pure virtual that at times makes people depressed and anxious. Metaverse has made people addicted towards gaming and it has become one of the biggest challenges for the kids as well (Nica et al., 2022). Hence, getting hooked with the usage of Metaverse poses huge threats for the health of kids and it gives greater problems for the future career of people. It is significant that for the usage of augmented reality access to the internet is quite important. However, internet connectivity for people is quite expensive and as a result it is not accessed by many people (Park and Kim, 2022). Taking an example of VR handsets needs high-tech connectivity which is not possible for a section of the population.

Conclusion

It is inferred from the study that the advantages, social concerns and impact of Metaverse in bringing value to the company is discussed here.

Reference List