Application of Virtual Reality, Essay Example for Students

Virtual reality is one of the most exciting technologies in the present business and other disciplines such as education, military, and medicine. Its application has been successful and spurring the rise in revenues in business significantly. One of the most common applications of the virtual reality is in marketing. It is used for marketing to potential customers because it gives them an opportunity to have an experience of the product or services they are seeking even before they visit the business or place of destination (Chandrasekera & Yoon, 2018, p. 5). For example, in the sale of real estate the customers are allowed to view the property and its internal features in 3 dimensions without visiting the location. They are allowed to view different sections of the property by the virtual reality without necessarily visiting the facility.

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The application of the vitality reality in the marketing of the real estate industry benefits the seller and the buyer in different ways. One way of successful marketing is ensuring that the customer is provided with sufficient and as detailed information about the products as much as possible (Schutte & Stilinovic, 2017, p. 709). The virtual reality gives marketers an opportunity to provide detailed information about the products of sale it also gives them an opportunity to view almost all sections of a property. The detailed information benefits give business with virtual reality in place an upper hand over competitors who are yet to invest in the technology (Waugh, 2017). Virtual reality minimizes possible traveling cost and time for the buyer as they move from one property to the other as they compare different alternatives available. It also saves time for the seller and as they are not tasked to take potential clients a tour of different properties. Virtual reality increases the portfolio of potential customers because marketing using images eliminates language barriers usually experienced in the marketing of properties in a multilingual society. The task of a marketer to describe a property and its features to clients is done by the virtual reality a factor that ensures that very little is done by the word of mouth (Waugh, 2017). Virtual reality makes brand awareness higher through social media and internet advertisements because it appealing to view as one experiences real-life experience about a product. The virtual reality enables a customer to make a buy decision a factor that may increase sales of a firm.

In the launching of virtual reality, one faces several challenges that a business need to overcome to successful have the technology in place and reap the benefits associated. The first challenge experienced is financially related because the investment required is high. The virtual reality requires high-end computers with graphics that support the technology and most of the common computers do not have the capabilities (Cipresso & Serino, 2014, p. 125). The high-end computers required are expensive and that makes the installation of the technology relatively expensive because on top of the computers, the other components that are required are also expensive. Virtual reality requires a high tech in coming up with videos and assembling different real-life scenarios, the assembling of the images is a new way of doing videos a factor that poses a challenge in the initial period of its launching. The launching of the virtual reality is the real estate industry is also faced with a legal challenge of ensuring compliance with the government regulations such as intellectual property rules. Finally, cyber security remains a major concern in the virtual reality marketing.

References

Chandrasekera, T., & Yoon, S. (2018). The effect of augmented and virtual reality interfaces in the creative design process. International Journal Of Virtual And Augmented Reality, 2(1), 1-13. http://dx.doi.org/10.4018/ijvar.2018010101

Cipresso, P., & Serino, S. (2014). Virtual reality. Nova Science Publishers.

Schutte, N., & Stilinovic, E. (2017). Facilitating empathy through virtual reality. Motivation And Emotion, 41(6), 708-712. http://dx.doi.org/10.1007/s11031-017-9641-7

Waugh, R. (2017). Which industries could benefit from virtual reality?. The Telegraph. Retrieved from https://www.telegraph.co.uk/connect/small-business/tech/pc-world/benefits-of-virtual-reality/