Summary
European luxury consumers enthusiastically use the Internet, often to talk about the brands they love. But luxury brands keep both the Internet and these consumers at arm's length. CMOs directing luxury brands can no longer ignore the online conversations about the brands they manage. They must participate in Social Computing to guide the future of the brand. Additionally, Social Computing opens three rich opportunities to enhance the luxury marketing mix: 1) creating reciprocity; 2) capturing deep consumer insight; and 3) energizing consumer influencers.
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