Leveraging Academic Research on Mixed Reality Applications for Value Creation

Mixed Reality applications are rapidly maturing, and companies strive to harness the potential of Augmented Reality (AR) and Virtual Reality (VR). In this chapter, the authors highlight three fundamental psychological processes that companies must understand to better capture value from AR/VR consumer experiences. Drawing on recent academic research, the authors explain how firms can benefit from mental imagery triggers, engagement and interactivity, and feelings of psychological ownership for products or services showcased in AR/VR. The authors emphasize that AR/VR may not always provide value and conclude with an overview of considerations for firms in light of rapid technological advancements.