Abstract
Abstract Social networks, and social media as the tools, are everywhere in the marketer’s world today. Their growing importance was quickly acknowledged and they were casted one of the top research priorities by the trustees of the Marketing Science Institute (MSI) in 2006. Brands, and in particular luxury brands with their high brand equity, ought to have a clear understanding of what social media could do for them, and develop a clear strategy of how they could enhance customers’ experience and perceptions of their brands. Social media are highly related with the concept of Web 2.0, which go back to O’Reilly (2005) who realized that the companies that had survived the dot-com bubble in 2001 seemed to have something in common. These shared principles and practices are the modern second era of the web that can be described as Web 2.0. Beyond the social classification of content by tagging (folksonomy), Web 2.0 pages allow and encourage the creation of user-generated content. This includes creating and sha...
Published Version
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