Virtual Advertising Platform Management †Myassignmenthelp.Com

Question: Discuss About The Virtual Advertising Platform Management? Answer: Introducation My business idea is based on virtual reality ads. With the growth of virtual reality apps, there is an opportunity for brands to leverage these apps to advertise their products or services to a target audience (Huang, 2016). A VR advertising platform can be key in helping brands to place their adverts in various VR apps. The platform collaborates with several companies that own VR apps which will offer advertising space. Brands that seek to advertise will use the platform to choose the apps in which they want their ads to be placed. The platform serves as a broker between the brands and the companies that own the VR space. Companies that seek to advertise will pay to use the platform. A share of the money earned in the platform will be given to the companies that own VR apps for providing advertising space. Key Partners The key partners in this idea are content curators and VR companies. Content curators are the firms involved in creating immersive VR ads that are placed on VR apps to engage the target audience and advertise the brands. VR companies are key stakeholders in this business idea as they offer advertising space in the VR apps which are leveraged to showcase brand-specific content in order to improve brand awareness (Yaoyuneyong, 2016). Key Activities Main activities involved in this idea are platform development and operations management. Platform development is a core activity which involves continuously improving the VR advertising platform to ensure it meets the needs of the clients and functions as expected. Given that virtual reality technology is growing, it is essential to develop the platform to improve its capabilities and keep it updated with emerging VR trends (Balazinska, 2017). Operations management is another critical activity that involves managing organizational operations such as customer service, support, etc. Key Resources The vital resources for this idea are VR platform and technology infrastructure. The VR platform is a key asset as it is used to provide core services to the client. Through the platform, clients can purchase virtual advertising space, and the adverts can be displayed in the relevant apps. The business idea relies on technology infrastructure which defines how the services will be offered. A technology ecosystem that involves different hardware and software components is leveraged to provide the core service (Zhang, 2014). Value Propositions Value propositions offered in this business idea include customer engagement and personalized ad experience. Through the platform, clients can effectively reach the target audience and engage potential customers through its ads. With the platform, clients can choose a specific audience such as young game players interested in soccer games. The platform also offers brands an opportunity to personalize an advert to the interests of the potential customers. For example, if the company is targeting gamers interested in soccer, ads can be tailored to have soccer-specific content. Relationships The relationship in this idea is manly cross-side network effects. The relationship involves two distinct user groups: advertisers and VR companies. Each of these user group is concerned about the number of users in the other group (Alexander, 2016). Advertising brands want to advertise in several apps to reach a large target audience and enhance brand awareness. On the other hand, VR companies seek to have several adverts placed on their apps which imply that several advertisers have to choose their apps to advertise their brands. Channels Channels leveraged for this business idea include website and APIs. A website serves as a storefront of the platform which allows users to gain an insight into its operations. APIs are used by content curators and brands to place ads on VR apps connected to the platform. Customer Segments The key customer segment targeted is marketing agencies. Marketing agencies play a fundamental role in managing marketing campaigns for various companies (Decarolis, 2017). The agencies are a target customer segment as they can leverage VR ads to enhance the brand awareness of their clients. Cost structure The costs incurred in this business idea include marketing, research and development, and administrative costs. Money will be sent to market the platform to advertisers and manage general operations. Also, capital will also be spent on research in order to develop the platform to ensure it delivers quality services that meet organizational goals and clients needs. Revenue Streams Ad revenue is the main revenue stream for this business idea. Revenue will be generated from the advertising space sold to the advertisers. Advertisers will set a budget for the campaiAnswer:e company will share the revenue with owners of VR apps based on an agreement that the two will sign References Alexander, B. N., Parker, G. (2016, January). Entrepreneurship Platforms: A Two-Sided Network View of Entrepreneurial Ecosystems. InAcademy of Management Proceedings(Vol. 2016, No. 1, p. 14894). Academy of Management. Balazinska, M., Ceze, L., Cheung, A., Curless, B., Seitz, S. M. (2017). A Visual Cloud for Virtual Reality Applications. InCIDR. Decarolis, F., Goldmanis, M., Penta, A. (2017). Marketing Agencies and Collusive Bidding in Online Ad Auctions. Huang, Y.C., Backman, K.F., Backman, S.J. and Chang, L.L., 2016. Exploring the implications of virtual reality technology in tourism marketing: An integrated research framework.International Journal of Tourism Research,18(2), pp.116-128. Yaoyuneyong, G., Foster, J., Johnson, E., Johnson, D. (2016). Augmented reality marketing: Consumer preferences and attitudes toward hypermedia print ads.Journal of Interactive Advertising,16(1), 16-30. Zhang, Z., Hui, P., Kulkarni, S., Peylo, C. (2014, June). Enabling an augmented reality ecosystem: a content-oriented survey. InProceedings of the 2014 workshop on Mobile augmented reality and robotic technology-based systems(pp. 41-46). ACM.