Congratulations to Dr. Nathalie Harz, Prof. Sebastian Hohenberg, and Prof. Christian Homburg, whose paper on VirtualReality (VR) in NewProductDevelopment has recently been published in the Journal of Marketing, the premier outlet for research in marketing.
Based on multiple empirical studies, the authors show how companies can leverage VR to reduce the economic risk of new product development. Their new sales forecasting approach provides accurate prognoses even before launch by relying on a simulated purchase journey in virtual reality. Further, they show that VR fosters realistic behavior as behavioral consistency, presence, and vividness are especially high in VR. Thus, managers can get accurate prognoses and insights into realistic consumer behavior even before the product physically exists.
Interested to learn more about how to use VR to improve your new product development?
Find the full article here: Article