Luxury Branding in Web 2.0
MK543E Advanced Brand Management
Patek Philippe
Branding in Web2.0
Luxury Branding in Web 2.0
Introduction With the development of science and new technology, usage of Web 2.0 as a communication has become a very important concept in terms of the modern consumer behavior and marketing management. Nowadays, people has got used to obtain the information and purchasing on line, especially for the younger generation consumers.
There used to be a time when luxury industry is totally on the opposite side of digital world. Today, it has become a commonplace that Companies and brands utilize different social networks to express the brand identity and promote their products. It is also predictable that the use of social network in luxury industry is not a temporary trend .
This essay is written for the study of branding in Web2.0. There are three particular purposes of the essay: to discuss the reasons why web2.0 should be involved in luxury branding; to analyze under what circumstance a luxury brand should use social medias for brand building. Also, to specifically discuss about the luxury brand Patek Philippe as they are still not using social networks as a tool of communication.
By analyzing and evaluating the current trend and the possible future trends in luxury industry, as well as the brand position and brand equity, recommendations and suggested actions of Web2.0 branding will be provide for Patek Philippe.
Key words: web2.0 Social networks Luxury brand I. Newer Web 2.0 1.1 Trend of New Web2.0 The term Web 2.0 was defined by O’Reilly Media in 2004. This term is to describe “second generation of Internet-based tools and services that let people generate and control content and collaborate and share information online in perceived new ways” (Elraim Turban, 2012, Chapter 1 ,
Patek Philippe
Branding in Web2.0
Luxury Branding in Web 2.0
Introduction With the development of science and new technology, usage of Web 2.0 as a communication has become a very important concept in terms of the modern consumer behavior and marketing management. Nowadays, people has got used to obtain the information and purchasing on line, especially for the younger generation consumers.
There used to be a time when luxury industry is totally on the opposite side of digital world. Today, it has become a commonplace that Companies and brands utilize different social networks to express the brand identity and promote their products. It is also predictable that the use of social network in luxury industry is not a temporary trend .
This essay is written for the study of branding in Web2.0. There are three particular purposes of the essay: to discuss the reasons why web2.0 should be involved in luxury branding; to analyze under what circumstance a luxury brand should use social medias for brand building. Also, to specifically discuss about the luxury brand Patek Philippe as they are still not using social networks as a tool of communication.
By analyzing and evaluating the current trend and the possible future trends in luxury industry, as well as the brand position and brand equity, recommendations and suggested actions of Web2.0 branding will be provide for Patek Philippe.
Key words: web2.0 Social networks Luxury brand I. Newer Web 2.0 1.1 Trend of New Web2.0 The term Web 2.0 was defined by O’Reilly Media in 2004. This term is to describe “second generation of Internet-based tools and services that let people generate and control content and collaborate and share information online in perceived new ways” (Elraim Turban, 2012, Chapter 1 ,