Study on the Influence Mechanism of Virtual Reality on the Marketing Process of High Intervention Products: Take Online Real Estate Platforms for Example

Lan Li

doi:10.6981/FEM.202407_5(7).0001

Authors

Lan Li

DOI:

https://doi.org/10.6981/FEM.202407_5(7).0001

Keywords:

Virtual Reality; High Intervention Goods; Marketing Promotion; Digital Marketing.

Abstract

This study meticulously examines the influence of virtual reality on the marketing process pertaining to highly interventional goods within online real estate platforms. Virtual reality serves as a simulated environment, affording users the capability to remotely peruse information and engage in real-time interactions. Notably, BEKE, a prominent online real estate platform in China, inaugurated the virtual reality house viewing functionality in 2018, marking its precedence as the first platform to integrate this technology within the e-commerce industry. Leveraging comprehensive data pertaining to housing attributes and transactions, this research employs rigorous analytical techniques such as the survival model, propensity score matching, and the Heckman control function to delve into the impact of virtual reality on the duration of housing marketing and to further explore its pivotal role in shaping consumer decision-making processes.

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