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Increased utilization of cutting-edge communication technologies has expanded the potential for experiential marketing in the luxury industry. This is of particular relevance given the increasing significance of the Internet as a communication and distribution channel within the luxury sector.
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Session III - New Characters but Old Story?

John A. Quelch - Vice President & Dean, CEIBS; Christian Gobber - Managing Director-China, Maserati; Michel Gutsatz - Director, MBA & EMBA Programme, Euromed Management; Thibault Villet - CEO & Founding Partner-China, Glamour-Sales; Sam Flemming - Founder & Chairman, CIC

Increased utilization of cutting-edge communication technologies has expanded the potential for experiential marketing in the luxury industry. This is of particular relevance given the increasing significance of the Internet as a communication and distribution channel within the luxury sector. The Luxury Institute found that 88% of wealthy consumers cite preference for using the internet to research luxury firms, and 38% prefer to purchase luxury goods online, versus 33% who favor face-to-face transactions. However, the luxury industry still lacks standards and feasible procedures for e-Business practices, ranging from choice of websites for advert type, advert placement and measurement of advertising effectiveness, to approaches to Web 2.0; in addition to platforms, such as blogs and social networks, and development of e-Boutiques, e-Merchandising and e-Customer Relationship Management (e-CRM) tools, among countless other issues.

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