It’s 2017 and we stand upon the brink of another evolution in digital media. Since the first Turing architecture machine was invented to break codes in WWII, the ongoing technology evolution has led to a state of nearly ubiquitous computing, most recognizable in the form of modern smart phones. Stemming from the concurrent development in computing hardware and information processing; governments, businesses, and individuals created new marketplaces. These technologies established the ecosystem for the Internet and World Wide Web. Marketers and traditional marketing models adapted quickly to this ecosystem to the extent that digital marketing now dominates a typical marketing mix.
New technology innovations, known as Virtual Reality (VR) and Augmented Reality (AR), are developing at a rapid pace. The unique properties of fully immersive VR and situationally aware AR have great potential value to marketers seeking to engage and persuade consumers with impactful messaging. Marketers are starting to work with VR and AR as part of their toolbox for messaging. Its potential impact on existing marketing practices may turn out to be similar to what we have seen in the transition to digital marketing. In this report, we will describe AR/VR hardware technology and how it may enable new ecosystems to develop for marketing and advertising.