4.3 Article

Embracing falsity through the metaverse: The case of synthetic customer experiences

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BUSINESS HORIZONS
卷 65, 期 6, 页码 739-749

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DOI: 10.1016/j.bushor.2022.07.007

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Metaverse; Falsity; Synthetic customer experience; Augmented reality; Virtual reality; Neuroenhanced reality

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The metaverse is seen as the next frontier for strategic business opportunities, but the market potential of metaverse offerings has been highly volatile in recent months. As a result, businesses are struggling to set a meaningful strategic course in an uncertain and rapidly changing landscape. Understanding the metaverse as a unified and immersive reality where physical and synthetic customer experiences converge seamlessly is crucial for its success as a vibrant business ecosystem.
The metaverse has been heralded as a next frontier for fueling strategic business opportunities. At the same time, recent months have witnessed explosive volatility in the market potential of proposed metaverse offerings. As a result, busi-nesses are struggling to set a meaningful strategic course through an uncharted and rapidly changing landscape. We argue that the success of developing and scaling the metaverse as a vibrant new business ecosystem is largely dependent on the un-derstanding that it is a unified and immersive reality where the physical and syn-thetic customer experiences seamlessly converge. For this to work, businesses and their customers need to be able to suspend their disbelief that synthetic ele-ments are inherently false. We therefore consider the metaverse as a differenti-ated experience by exploring the promise and perils of falsity. We discuss how businesses can strategically embrace falsity by harnessing its intendeddas well as mitigating its unintendeddconsequences, as they maneuver through major tech-nological challenges in capturing customer value. We offer a diverse set of exam-ples that illustrate how these strategies translate into managerial actions to competitively succeed in this new reality.(c) 2022 Kelley School of Business, Indiana University. Published by Elsevier Inc. This is an open access article under the CC BY-NC-ND license (http://creativecommons. org/licenses/by-nc-nd/4.0/).

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