Author(s): Tarnanidis, Theodore ; Owusu-Frimpong, Nana ; Sousa, Bruno ; Manda, Vijaya Kittu ; Vlachopoulou, Maro
Date: 2025
Persistent ID: http://hdl.handle.net/11110/3332
Origin: Politécnico do Cávado e do Ave
Subject(s): Decision-making process; consumer reference points; prospect theory; metaverse; future marketing
The aimof this study is to analyze the factors that influence consumer referents or reference points and their interaction during the decision-making process, along with the principles of prospect theory in the metaverse with market and retail examples. We conducted an integrative literature review. Consumers’ preference for reference points is determined and structured during the buying process, which can be affected by potential signals and biased decisions. To guide consumers’ shopping experiences and purchasing behavior in the most effective way, marketers and organizations must investigate the factors that influence consumer reference points beyond physical or tangible attributes. Businesses must be adaptable and adapt their strategies to changing consumer preferences based on reference points.
