CMO Strategy: Need to Read, Sept. 19, 2007

A Look at Luxury Brands

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Many marketing executives around the world say they believe that online tools are very important to overall marketing efforts -- yet a smaller number of them say that they are frequently implementing them. Two reasons? A lack of capabilities at companies and their agencies, as well as the lack of meaningful metrics. Read more in this article that recaps the results of a McKinsey global survey of how companies are marketing online.

"Luxury Goes Mass Market" explores the definition of luxury and takes a look at how some luxury brands are seeking to appeal to a wider (read: less wealthy) market while still maintaining brand cache. To wit: "'Diversification is the rule of the game, but you can't do everything,' warns Francesco Trapani, CEO of Italian high-end jeweler Bulgari, which has gotten into hotels and is about to launch a line of skin-care products. 'The danger is, you do something badly, and then you don't just lose money but your reputation.'"
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