SUMMER INTERNSHIP (MSSI600)
FACULTY GUIDE: MR. NITIN GARG
TOPIC:
- HOW WILL AUGMENTED REALITY (AR) ENHANCE
MARKETING EXPERIENCES
MADE BY:
KHUSHI CHADDHA
ENROLL. NO.: A1802021018
MBA IB
SECTION A
CERTIFICATE OF ORIGIN
This is to guarantee that I KHUSHI CHADDHA a postgraduate student of MBAIB from Amity International Business School, Noida (Batch of 2021-2023) has
worked under the complete direction and supervision of Mr. NITIN GARG,
project personal director.
This undertaking report has the complete satisfaction of the postgraduate degree
in business administration, as far as I possibly know that no piece of this report
has been repeated or taken from any other report and the information is based on
unique research.
I am mindful that this report is duly qualified.
Signature
(Mr. Nitin Garg)
ACKNOWLEDGEMENT
With immense please I, Ms. KHUSHI CHADDHA presenting “HOW WILL
AUGMENTED REALITY ENHANCE THE MARKETING EXPERIENCES”
project report as a part of the curriculum of Masters of Business Administration.
I wish to thank all the people who gave me unending support throughout.
I express my profound thanks to Mr Nitin Garg, my project guide and all those
who have indirectly guided and helped me in preparation of this project work.
Thanking you,
Khushi Chaddha
MBA International Business
DECLARATION OF AUTHENTICITY
I, KHUSHI CHADDHA, here with declare that the work conferred here in is
originally done by me and has not been printed or submitted elsewhere. Expertise
is correct and I worked within the company for the length given within the
certificate. Any information or work done by others and cited within the report
has been given due acknowledgement and listed within the reference section.
CONTENTS
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Abstract
Review of literature
Objectives
Introduction
How will AR enhance marketing experiences
Benefits of AR in marketing
Advantages of AR in marketing
AR apps for marketing
Future of AR in marketing
Challenges for AR adoption
AR in Pharmaceutical industry
Selling and marketing pharmaceuticals with AR
Applications of AR in pharmaceutical industry
Indian Pharmaceutical Companies Using AR
Conclusion / Findings
Methodology
References
ABSTRACT
Today's markets are driven more and more by the needs and desires of consumers.
As technology advances, those desires change and a brand must keep pace with
those changes.
Augmented reality (AR) is an emerging trend within marketing and sales
strategies, one that allows brands to give their customers unique experiences with
the convenience of tapping into their mobile devices. Mobile has become one of
the most significant media types through which consumers interact with brands
and make purchase decisions. AR is an another tool in your belt when it comes
to driving sales and enhancing brand value through mobile devices.
Thus this report focuses on how will augmented reality enhance marketing
experiences for the marketers. Also some benefits and suggestions are included
on how to keep pace with the changing environment of the market. This will
include some positive and some negative impacts on some businesses as well.
Therefore by the end of the research this report will include all the necessary
information on how will augmented reality enhance marketing experiences.
REVIEW OF LITERATURE
With the increase in the technology in the current situation, it becomes very
difficult for some marketers to keep up with the advanced technology especially
the ones having small businesses. Many marketers are still finding a way to
incorporate the new emerging technologies into their business. Therefore, AR has
changed the game for many businesses which provide customers more
satisfaction while purchasing a particular product. The shopping experience for
the consumers become more enjoyable and according to their needs. So through
this research paper, we get to know how AR will enhance the marketing
experiences and also how AR is used in the pharmaceutical industry.
Different articles, books and magazines portray that AR has not only enhanced
the way of portraying things but also has given a new experience altogether. Some
industries are using this technology with its utmost potential and giving the
customers that shopping experience which they need and also forcing them to
think on the purchasing decisions as well. With the help of this research paper we
will notice what all challenges, benefits and advantages and applications AR has
to enhance the marketing experiences. Also, this paper contains some information
on the future of AR marketing and some apps associated with AR.
OBJECTIVES
o To study the role of Augmented Reality (AR) in enhancing the marketing
experiences of customers in pharmaceutical industry.
o We will be looking into some Indian pharmaceutical companies which
use Augmented Reality (AR) for their product enhancement or
development.
o We will also be going through some applications of AR in
pharmaceutical industry.
o To have an idea about the software used by some Indian pharmaceutical
companies that use AR.
INTRODUCTION
Augmented reality (AR) is an increased version of the actual physical world that's
achieved through the utilization of digital components, sound, or alternative
sensory stimuli delivered via technology. It’s a growing trend among firms
concerned in mobile computing and business applications specifically.
Amid the rise of knowledge and analysis, one among augmented reality’s primary
goals is to spotlight specific options of the physical world, increase understanding
of these options, and derive sensible and accessible insight which will be applied
to real-world applications. Such massive information will facilitate to inform
companies' decision-making and gain insight into customer disbursal habits,
among others.
Retailers and different corporations will use augmented reality to push product or
services, launch novel promoting campaigns, and collect distinctive user
information.
Augmented Reality (AR) has received exaggerated attention over the last years,
each from managers and students alike. Different studies within the promoting
discipline have tackled fragmented aspects of AR, like its impact on sales or
brands. Yet, a holistic approach to AR remains scarce.
Marketing is that action or business of promoting and selling merchandise or
services, together with marketing research and advertising. Today, marketing are
some things that each company and organization should implement in its growth
strategy. several corporations use promoting techniques to realize their goals
while not even realizing it, as they work to push themselves and increase sales of
their product or service. These days, marketing is one among the key aspects of
companies.
There are several different aspects to marketing like product distribution,
promotion, coming up with and making materials like landing pages and social
media content, rising client expertise, doing marketing research, establishing
market segments, and much more.
HOW WILL AR ENHANCE MARKETING EXPERIENCES:
Discussed below are some points which will help us understand how augmented
reality will enhance marketing experiences for customers as well as for the
sellers.
BENEFITS OF AUGMENTED REALITY IN MARKETING
 Today, the pandemic has created customers additionally aware and
complicated. Their behaviours and looking patterns are ever-changing.
during this time corporations got to become more innovative in a manner
to interact and surpass their expectations. it's additionally vital to know that
as more and more people opt to search on-line. Businesses desperately got
to implement new tools to produce period of time client expertise and
there's no excuse for ignoring AR technology.
 Try before buy concept – With AR, the idea of try before you purchase
has become attainable. individuals will strive product that enhance overall
client satisfaction.
 Creating brand buzz via AR tactics – Marketing ways may also use AR
technology to form buzz among the shoppers. for example, Uber created
Associate in Nursing AR campaign in Zurich that permissible riders to use
AR in an exceedingly fun manner, leading to one million YouTube views.
Another such example is Burger King’s “ Burn that Ad ”campaign.
 Interactive Experiences with a personal touch – Augmented Reality
apps enable the whole brand to allow their consumers a private bit to online
content with customized apps. Moreover, AR selling will facilitate brands
drive price by making personalised and tailored content that matches the
various desires of every client.
 Aid in purchase making decisions – AR ways will facilitate marketers
live engagement. Brands will use this new technology that draws and wows
shoppers.
 Businesses will boost client engagement with the assistance of AR by
making associate degree AR that stimulates client expertise. Once that
moment happens the magic begins.
ADVANTAGES OF AR IN MARKETING
Even after the pandemic, firms face a grave drawback that their customer’s
buying habits are dynamic . Now, they have a much better and improved client
expertise than ever before. AR will facilitate modification however brands offer
client expertise and drive client engagement. AR provides many benefits except
for business, the core advantage is that the hardware is out there for the event of
AR in smartphones and tablets. Also, the usage is intuitive and understanding. for
instance, brands will permit users to do on garments while not really carrying
them to avoid containment through surfaces. Or they'll change them to examine
if the furnishings fits the inside that is already done by IKEA. this will all be
through with simply a faucet on customers automaton or iPhone AR app.
In the coming back years, the evolution of AR will change technology to
attractiveness to alternative senses of touching, smelling, and feeling. Innovations
are providing opportunities for businesses and an enormous quantity of markets
and spheres. Among them, a number of the sectors embrace land, banking,
healthcare, producing, and others.
For marketers, AR has become an outstanding tool for creating viral campaigns
and grab customers’ attention as it can become a source of fun for customers.
AUGMENTED REALITY APPS FOR MARKETING
The growth in AR-capable devices has a significant part in creating augmented
Reality as a replacement research topic, additional common platform for
advertising, marketing, and sales functions. More often, individuals notice it
troublesome to create their choices after they can’t try the product they're
shopping for online. It happens principally with dark glasses, clothes, cosmetics,
jewellery, etc. AR apps for selling solve this issue. currently AR apps have
created it attainable to just about try a product before really shopping for it. This
will increase client satisfaction. several brands use these apps to let their
customers get an experience before shopping. For example: google maps, ikea,
tesco etc.
FUTURE OF AR IN MARKETING
AR in selling and advertising begins with the advancements in technological
infrastructure. Today, corporations are continuing to adapt the AR technology to
supply a vivid expertise to the end-consumer of their product and services.
Customers shifting preference towards e-commerce have well-tried to be an
additional natural shift in technological advancement. It integrates internet
development and visual stimuli which means that it’s not simply a selling
gimmick however a psychological plan of action. It will subliminally take away
the barrier of fantasy within the mind of a client. This will increase the chance of
product purchase success or achieving a goal for associate degree e-commerce
web site. It drastically improves the interactions of a possible client with a product
by personalizing it. AR has the potential to dominate e-commerce is as a result of
it makes perceiving product simple. Hence, the businesses that invest in AR for
his or her selling will reap its edges by enjoying their investment and at the same
time viewing the globe during a new dimension. Soon, the technology can aim to
cut back returns by giving patrons a period glimpse of the merchandise size to
ascertain however it's within the home. several e-Commerce stores have already
started investment in Virtual test technology to realize a grip within the market.
Augmented reality is quickly becoming one of the most exciting technologies in the
digital landscape and is expected to take the lion’s share of the market. Estimates
suggest that the AR market will grow anywhere between $70-$75 billion by 2023.
CHALLENGES FOR AR ADOPTION
AR technology adoption challenges can be broadly classified into six areas:
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cost of execution problems
lack of aptitude and experience
ability to create AR filters and narratives
latency issues
lack of adequate raw materials, and keeping up with constant changes in
technology.
Firms interested in AR implementation could incur varying costs depending on
the technology and the industry the firm is operating in.
Firms going to implement AR apps should decide concerning either building the
app in-house or shopping for the app from third-party app builders. The challenge
in building the app in-house is that the demand of right talent and experience like
3D modelers, data of package tools and committal to writing ability. additionally,
there are problems related to building AR filters and creatives and lack of
adequate resources to make AR apps i.e., prices involved acceptable hardware
and package purchases and keeping with the associated changes in technology
over time.
Finally, latency problems are a challenge that can't be unheeded throughout AR
technology implementation. throughout AR implementation info from following
and imaging devices and user input devices ought to be gathered and rendered
quickly and swimmingly. Latency problems relate to delays because of
communication over networks and within the case of AR rendering of assorted
objects in user’s world may well be delayed because of slower process. this might
be an enormous deterrent for companies making an attempt to implement AR as
a result of Associate in Nursing AR app with latency problems may well be worse
than not having an AR app in the slightest degree.
AUGMENTED REALITY (AR) IN PHARMACEUTICAL INDUSTRY
AR is improving both efficiency and safety concerning machine optimization.
The consequences of a mistake when it comes to pharmaceutical manufacturing
and engineering could not only be costly, it could also mean the difference
between life and death. The stakes are high in this industry, so manufacturers
need to be confident that their medical devices are built uniformly and precisely.
Using AR decreases human error and allows to maintain a high level of
consistency, for example, overlaying an operating “canvas” onto a given surface,
along with using visual and audio prompts, ensures product excellence while
cutting down on assembly time.
A revolutionary use of AR is its assistance in medical procedures, surgeries, and
routine tasks. AR is being used to help surgeons visualize the area on which they
are to operate; projecting 3D representations of the patient’s anatomy into the
doctor’s field of view, thereby improving both accuracy and patient outcomes.
Both doctors and patients are aware of the fact that when it comes to operating,
precision is of crucial importance. Whether it is locating a tumour in the lungs or
a minimally invasive procedure, AR apps can help save lives and make treatment
seamless from start to finish.
The value of AR in healthcare reaches far beyond pharmaceutical marketing.
Patients are becoming ever more curious regarding their medication and
treatment options. AR has become a valuable and effective tool for educating
patients and helping them to better understand their condition and the mechanism
of action of any medications they take. The use of 3D visuals and graphics allows
complex scientific systems to be more easily understood. 3D illustrations allow
for an immersive and interactive experience, rather than reading a lengthy
description on a bottle that many patients may not bother to read. The deeper
understanding that comes from being more engaged allows a patient to make a
more informed decision on their path of treatment. This awareness helps patients
become more at ease with treatments and surgeries, as well as giving them far
greater knowledge of their condition.
SELLING AND MARKETING PHARMACEUTICALS WITH AR
As rapidly emerging technologies, professionals are increasingly exploring new
ways to embrace VR and AR in different fields of the medical profession; such
as in sales, marketing and advertising. There’s great potential for the use of AR
in sales. That’s because the key to a successful rep and healthcare professional
relationship is communicating clearly and accurately. AR technology can help
sales reps do this by helping doctors visualize the benefits of their products,
literally.
Sales and marketing teams will have access to technology that can generate 3D
presentations designed to educate healthcare professionals visually.
Pharmaceutical companies are already using interactive animations to show the
effects of their products. AR technology is enabling the use of animated
sequences that involve 3D simulations and moving images that show the effects
of a particular medication. These AR applications give healthcare professionals
deeper insights into the benefits these new products offer and thus help them to
better explain to their patients how these treatments work. It can also be used by
professionals to “test-drive” larger medical equipment without having to
physically bring it in. Not only does this make life easier for manufacturers in
terms of shipping costs and training, but importantly, it allows medical
professionals to gain a better hands-on feel for the product before committing to
purchase.
EFFICIENT EQUIPMENT MANUFACTURE AND OPERATION
The benefit of AR can further be extended and applied in the manufacture of
medical equipment, machinery, and devices. Being able to visualize threedimensional schematics of a product in the design phase can help engineers
understand how to improve a design and render it more effective.
AR can also assure uniform production of the equipment. This can greatly
improve the safety of these products, especially those destined for operating and
emergency rooms, as well as pathology units.
Pharmaceutical AR can also be leveraged to reduce costs in research and
development. That’s because the technology can simulate the reaction of
components in bioreactors without having to run actual procedures and using
resources on tests that could end up in flawed versions of the final product. Put
simply, it reduces potential flaws by simulating visual tests based on past data.
It can also help hospitals and clinics in training their personnel with the use of
new equipment. Specialized equipment needs to be operated and maintained in
specific ways, and manufacturers or even HR can use AR training tech to develop
training programs that can teach staff the correct procedures in terms of operation
and maintenance without having to touch the machinery. This can be done
remotely, even before the equipment’s arrival.
APPLICATIONS
OF
PHARMACEUTICALS
AUGMENTED
REALITY
(AR)
IN
The pressure on pharmaceutical companies to find life-saving solutions in
double-quick time has always been exceptionally high, and especially so
during the ongoing pandemic. To meet this unrelenting demand, the
involvement of AR in pharma activities promises exciting possibilities for
the industry.
1. AR in Pharma Product Demonstration :
Putting together sales and promotional events can be challenging for pharma
organizations. The process of explaining the health benefits of newly formulated
medicines to researchers, hospitals or other buyers or regulatory bodies needs to
be done in an easy-to-understand way during product demonstration sessions.
Understandably, such individuals or bodies may not have the time or money to
patiently listen to sales executives from pharmaceutical companies as they have
to tend to their own patients or clients. As a result, the intelligent usage of time
becomes critical, making a visual approach perfect for the task.
This is where AR enters the game. The involvement of AR in pharma marketing
activities can be game-changing for medicine makers. As we all know, AR is a
technology that creates simulations in which imaginary objects are superimposed
over a real-world environment on a display screen.
Sales meetings with clients can be simplified with AR-based tools. Firstly,
presentations that involve AR-generated imagery can be conducted and viewed
from anywhere. As a result, the congregation of people in a common location can
be avoided for sales and marketing purposes.
AR allows pharmaceutical companies to showcase medicines and other
healthcare products to their buyers. More impressively, the demonstration can be
seen by viewers on their own phones, tablets or other devices, thereby preventing
needless spending on expensive VR-like headsets.
In addition to product demonstration, AR can also be used to remotely provide
tours of buildings, laboratories and other research facilities to regulatory bodies
during a likely compliance inspection session.
2. AR for Drug Discovery :
One of the key functions of AR in pharma-related activities is to facilitate quicker
and more accurate drug discovery. AR facilitates the research and development
process in pharma companies for drug discovery and research for multiple types
of diseases.
AR can be deployed for data visualization in drug discovery. Scientists and other
health experts can use AR to assess complicated genetic data related to specific
viruses. Usually, this process takes a lot of time. However, AR’s data
visualization allows researchers to study the characteristics of such particles in
order to discover existing elements and medicine combinations to deal with such
viruses.
Data visualization is a useful feature of AR that helps in identifying elements that
would otherwise be almost impossible to find for pharma companies and
researchers. Moreover, the information collected by AR tools can be shared with
other scientists working from remote locations. As a result, discoveries made in
one part of the world can be shared in no time somewhere else, thereby increasing
coordination within the global pharmaceutical community.
3. AR for Patient and student education :
As AR is a highly visually descriptive tool, it can be used to exhibit decidedly
complicated medication or treatment-related information to patients and their
relatives in such a way that it is easily understandable for them. Understandably,
patients will be curious to know about what kind of exact health condition they
have and what medication can be used to cure them. AR allows pharmaceutical
companies and healthcare experts to use expressive graphics and 3D imagery to
show their patients how their health condition is affecting their body, and how
certain recommended medications will act once it is ingested by them.
AR provides an extremely detailed and immersive visual experience to such
patients, allowing them to really grasp what is wrong with their body and how
medications created by certain pharma companies will help build their immunity
to fight their health condition. This level of knowledge and awareness will put
patients and their family members at ease, and they will allow themselves to trust
the treatment methods used in a hospital as well as the drugs or products
manufactured by pharma companies. The process of patient education needs to
be carried out as a collaboration between hospitals and pharma companies. As a
result, AR is a tool with multiple use cases, especially in healthcare as well as
medicine-making.
4. AR for Pre-Production Research :
Drug production, as one can imagine, is a long and arduous process. It requires
months, and sometimes years, of research, testing as well as trial-and-error
methods to successfully formulate a drug and bring it into the market for
commercial use.
With AR, the production process can be sped up with the use of its data
visualization capabilities. During the research and development phase of certain
drugs, pharma companies can visualize the structure and composition of their
future product with AR tools. The visual projection can be seen on a computer or
tablet screen. Visuals-based research eliminates the need for several trials of a
given drug, thereby saving pharmaceutical companies thousands of dollars in the
process.
Apart from visual research and forecasting, AR also allows drug production
management to be completely automated. AR allows production supervisors in
pharmaceutical companies to test new production mechanisms remotely. AR
tools can allow them to virtually monitor the trial process and, based on their
observations, such mechanisms can be greenlit for adoption.
One of the main jobs of AR, and any automation tool in the industry, is to reduce
the element of human error from pharmaceutical functions and operations. We
can safely say that AR’s capabilities meet this requirement by allowing the virtual
testing of new production processes without human intervention, thereby
reducing the likelihood of accidents or deaths caused due to workers’ poor
understanding of new machines and production operations.
All in all, the potential of AR in the pharmaceutical industry is huge. If
organizations adopt AR for the applications listed above and others, they will be
able to boost their ROI, productivity, and compliance with regulations.
INDIAN PHARMACEUTICAL COMPANIES USING AR
Here are some top companies in India that are using the AR services for their
patients as well as doctors :
1. Q3 technologies –
Q3 Technologies is another company related to the assembly of advanced
software system and applications supporting AR in the healthcare
business. software system consisting of Augmented reality technology
allows doctors to have a perspective of their patients and permitting them
to treat them good.
One of the most effective applications that Q3 created is that the expertise
of live operations being performed as if they're simply standing next to a
surgeon, all the method are often seen simply and is visible.
2. Immertive Pvt Limited
Immertive Pvt. Ltd is a Hyderabad based company that delivers a flexible
variety of services within the field of health care industry with the newest
AR technology. Immertive creates and build extremely advanced medical
simulators using augmented reality that features the training method for
college students, practitioners and nursing workers. Immersive deals with
medical animation, 3D visuals, 360-degree videos for industrial functions
and AR based products.
3. Simulanis
Simulanis is an associate triumph company that deals with digital
transformations across the industries by providing augmented reality,
mixed reality, and 3D simulation technologies according to the clients’
wants. It has contributed tons to the pharmaceutical and healthcare
business by fulfilling totally different surgical simulations that created
surgeries safer and correct.
4. TnQ Ingage
TNQ InGage is a company primarily based in Chennai and leading
exporter of equipment’s within the United Kingdom and Federal Republic
of Germany. TNQ InGage deals with AR, VR and IoT solutions in
accordance to client desires. They work for industrial, producing units,
healthcare and constructional sites by providing them appropriate
advanced equipment’s. In the healthcare industry, TNQ InGage
contributed to digital equipment’s, experiential coaching’s and trainings,
instructional labs, and more.
CONCLUSION / FINDINGS
AR marketing is on the rise and organizations should recognize the potential this
innovative field of marketing can bring. With its extensive opportunities,
marketers and managers can design AR marketing campaigns that can help
improve their bottom-line. AR is rapidly changing the way consumers
communicate with companies. In the retail field, the significance of AR in
marketing is huge, and it is expected to increase participation and sales. AR has
also taken over education, healthcare, and even replaced the way people interact
with insurance companies.
AR is becoming more and more common and convenient for mainstream
audiences and is continuously integrated into more applications and industries to
make it more accessible. This technology is an ideal tool used by many different
brands in their marketing strategies, and it provides new and exciting ways to
reach customer groups. As AR technology becomes integrated with every step of
the value chain, marketers have no reason to wait for consumer-immersive
promotions. Like most technology, businesses will be using augmented reality
long before consumers have wearables or personal AR devices. This transition
period puts marketers in a unique position to:
1. Share their brand’s current application of new technology, especially when
it benefits the consumer.
2. Prepare their marketing strategy for mass consumer adoption of AR
technology; learning to use AR technology as a bridge between consumer
need and business solution.
Also, some major Indian pharmaceutical companies use augmented reality for
their product development and for medical surgeries as well. These companies
have special software’s which help them to stimulate these technologies in an
easy and simple way and according to the needs of the customers.
These companies not only use advance technologies but are also giving training
to the newly appointed doctors which will help them to perform their tasks more
efficiently and in a simpler way.
The rise of Augmented Reality can aid additional patients in the future as we
tend to upgrade it more to create our lives simpler. In the end, medical
simulation technology will improve considerably by using several innovative
ideas.
METHODOLOGY
The method of collecting the whole data was done in several ways.
Firstly, I took the help of the industry guide and learned about how does AR
impact marketing experiences, how it affects their company and what all
difficulties they had to face. There was a lot to learn regarding my topic.
Secondly, I searched many research papers. I took and studied around 10 to 12
research papers and made this whole report. I studied what other authors have to
say on this topic as well. I also went through different types of research papers
because this is a vast topic so large information could be gathered from different
sources.
The third way was to read articles, magazines, newspapers because my topic we
can say is the most appropriate in these times as companies are becoming more
advance so newspapers and magazines would have plenty of information
regarding the same. I have written everything in a very simple language so that
the readers find it easy to understand.
REFERENCES
1. Newspapers and brochures gave some idea on how AR is used in
pharmaceutical industries.
2. The industry guide provided some sample brochures which helped me
getting an idea regarding how AR generally works in pharmaceutical
industry.
3. https://www.allerin.com/blog/4-applications-of-ar-in-pharmaceuticals
4. https://www.smartinsights.com/tag/marketing-using-virtual-andaugmentedreality/#:~:text=Augmented%20Reality%20(AR)%20for%20marketing,ta
pping%20into%20their%20mobile%20devices.
5. https://timesofindia.indiatimes.com/readersblog/sugarandrainbow/pharma
ceutical-industry-and-augmented-reality-40565/
6. https://random42.com/ar-inpharma#:~:text=AR%20for%20pharma%20sales%20offers,on%20the%2
0go%20sales%20tool.
7. https://www.aircards.co/blog/how-is-augmented-reality-going-toenhance-marketing-experiences
8. https://www.affinityvr.com/top-medical-simulation-companies-using-vrar-in-india/