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Article
Publication date: 30 June 2021

Xujia Wang, Billy Sung and Ian Phau

The purpose of this study is to investigate how exclusivity and rarity (natural versus virtual) influence consumers' perceptions of luxury. Further, it examines whether…

Abstract

Purpose

The purpose of this study is to investigate how exclusivity and rarity (natural versus virtual) influence consumers' perceptions of luxury. Further, it examines whether exclusivity and rarity can function as distinct marketing strategies in today's luxury market environment.

Design/methodology/approach

Online questionnaires were administered by adapting developed scales from prior research. Research stimuli were chosen from three luxury categories including bags, wine and cruise. Confirmatory factor analysis and multiple regressions were used to test the hypotheses.

Findings

The results confirmed that exclusivity, natural rarity and virtual rarity were perceived as relatively distinct constructs among our sample. Findings also highlighted that perceived natural rarity (PNR) has consistently emerged as a positive and significant contributor to consumers' perceptions of luxury across all three luxury categories. The influence of perceived exclusivity (PE) on perceptions of luxury has also shown to be significant for two product categories (luxury bag and luxury wine), whereas perceived virtual rarity (PVR) did not show any significant effects across all three categories.

Practical implications

The results indicate that consumers perceive natural rarity, virtual rarity and exclusivity as relatively distinctive marketing strategies. This suggests that luxury businesses can adopt each strategy independently to achieve desired marketing outcomes.

Originality/value

This study offers theoretical support for the proposition that exclusivity and rarity may have different functions in luxury marketing implementations. It provides empirical evidence showing the distinctiveness of perceived exclusivity and perceived rarity, which have not be done in previous research.

Details

Journal of Fashion Marketing and Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1361-2026

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Article
Publication date: 5 May 2020

Felix Septianto, Yuri Seo, Billy Sung and Fang Zhao

This study aims to investigate how the effectiveness of luxury advertising can be improved by matching the emotional (promotion pride vs prevention pride) and luxury value…

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1146

Abstract

Purpose

This study aims to investigate how the effectiveness of luxury advertising can be improved by matching the emotional (promotion pride vs prevention pride) and luxury value (authenticity vs exclusivity) appeals within advertising messages.

Design/methodology/approach

Three experiments were conducted. Studies 1A and 1B establish the influence of incidental emotions and regulatory focus on consumer preferences for divergent luxury value appeals (exclusivity vs authenticity) within advertisements. Study 2 shows the match-up effects of congruent emotional and luxury value appeals on advertising effectiveness.

Findings

The authors offer causal evidence that promotion pride increases the preference for exclusivity appeals, whereas prevention pride increases the preference for authenticity appeals in luxury advertising.

Research limitations/implications

The study offers a novel perspective into the ways consumers evaluate different value appeals in luxury advertising and establishes the important role played by emotions within such evaluations.

Practical implications

Marketers of luxury products can increase the effectiveness of their advertising campaigns by considering the fit between emotional and luxury value appeals. Specifically, the authors show that the congruent matching of promotion pride with exclusivity appeals and of prevention pride with authenticity appeals within advertising messages can elicit more favorable consumer responses.

Originality/value

The study is the first to illustrate novel “match-up” effects: it shows when and how different luxury value appeals (exclusivity vs authenticity) and emotions (promotion pride vs prevention pride) influence the effectiveness of luxury advertising.

Details

European Journal of Marketing, vol. 54 no. 6
Type: Research Article
ISSN: 0309-0566

Keywords

Content available
Article
Publication date: 30 June 2020

Jochen Wirtz, Jonas Holmqvist and Martin P. Fritze

The market for luxury is growing rapidly. While there is a significant body of literature on luxury goods, academic research has largely ignored luxury services. The…

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1432

Abstract

Purpose

The market for luxury is growing rapidly. While there is a significant body of literature on luxury goods, academic research has largely ignored luxury services. The purpose of this article is to open luxury services as a new field of investigation by developing the theoretical and conceptual underpinnings to build the luxury services literature and show how luxury services differ from both luxury goods and from ordinary (i.e. non-luxury) services.

Design/methodology/approach

This paper uses a conceptual approach drawing upon and synthesizing the luxury goods and services marketing literature.

Findings

This article makes three contributions. First, it shows that services are largely missing from the luxury literature, just as the field of luxury is mostly missing from the service literature. Second, it contrasts the key characteristics of services and related consumer behaviors with luxury goods. The service characteristics examined are non-ownership, IHIP (i.e. intangibility, heterogeneity, inseparability, and perishability), the three additional Ps of services marketing (i.e. people, processes, and physical facilities) and the three-stage service consumption model. This article derives implications these characteristics have on luxury. For example, non-ownership increases the importance of psychological ownership, reduces the importance of conspicuous consumption and the risk of counterfeiting. Third, this article defines luxury services as extraordinary hedonic experiences that are exclusive whereby exclusivity can be monetary, social and hedonic in nature, and luxuriousness is jointly determined by objective service features and subjective customer perceptions. Together, these characteristics place a service on a continuum ranging from everyday luxury to elite luxury.

Practical implications

This article provides suggestions on how firms can enhance psychological ownership of luxury services, manage conspicuous consumption, and use more effectively luxury services' additional types of exclusivity (i.e. social and hedonic exclusivity).

Originality/value

This is the first paper to define luxury services and their characteristics, to apply and link frameworks from the service literature to luxury, and to derive consumer insights from these for research and practice.

Details

Journal of Service Management, vol. 31 no. 4
Type: Research Article
ISSN: 1757-5818

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Article
Publication date: 1 December 2004

Christina S. Rodrigue and Abhijit Biswas

This paper examines the effects of resource dependency and contract exclusivity on the attitudes and intentions of consumers in brand alliances. Findings indicate that…

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5721

Abstract

This paper examines the effects of resource dependency and contract exclusivity on the attitudes and intentions of consumers in brand alliances. Findings indicate that attitudes of the brands before the alliance (pre‐attitudes) have a positive effect on the attitude toward the alliance, which has a positive effect on perceived quality of the alliance, willingness to pay a premium price and purchase intention. Further, attitudes toward the brands after the alliance (post‐attitudes) reveal a positive spillover effect for both the host and ally brands. Interestingly, the moderating effects of dependency and exclusivity differ based on whether the brand serves as the host or the ally brand in the alliance. Analyses conducted after controlling for the effects of familiarity of the ally brands revealed consistent results.

Details

Journal of Product & Brand Management, vol. 13 no. 7
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 30 June 2021

Vicente Marin, Cristóbal Barra and Jorge Moyano

The purpose of this paper is to examine the impact of adding the name of an artist to an art-infused product as a way to improve luxury perceptions. Additionally, the…

Abstract

Purpose

The purpose of this paper is to examine the impact of adding the name of an artist to an art-infused product as a way to improve luxury perceptions. Additionally, the underlying processes are explored through the mediation of perceptions of aesthetics, exclusivity and brand quality.

Design/methodology/approach

Two experimental studies were conducted with two independent samples of students (n = 215) and the general population (n = 291). A between-subjects design (artist name: present versus absent) was used to test the main effect and mediation, and it was replicated in two different conditions: low- and high-quality brands.

Findings

The results indicate that when an artist’s name is added to the description of an art-infused product, luxury perceptions improve significantly. These results are also explained by a significant complementary mediation of aesthetics, exclusivity and product quality.

Originality/value

This paper addresses important issues in the understanding of alternative ways to gain luxury associations through an artification strategy. This paper clearly contributes to expanding the effects of art infusion in branding, considering the use of artists’ names as a luxury perception booster. In addition, this paper provides insight into the underlying processes and guides marketers on how to manage potential artist collaborations in low- or high-quality brand contexts.

Details

Journal of Product & Brand Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 6 August 2018

Xiang Hui, Bingxiang Li and Mingmin Li

To satisfy the demand of initial investor for above-average capital return and the expectation of entrepreneurial management to establish their own business, this paper…

Abstract

Purpose

To satisfy the demand of initial investor for above-average capital return and the expectation of entrepreneurial management to establish their own business, this paper aims to explore a dynamic equity allocation model in which the shareholding ratio of the technology-based entrepreneurial firm changes with its growth and profit. Based on the dynamic equity allocation model, the authors design a financing structure which not only ensures timely and adequately obtaining the fund but also avoids equity dilution and safeguards the integrity of equity.

Design/methodology/approach

The paper selects high-tech companies listed in China as the sample for empirical research to identify the role of stock incentive and uses model deduction to find the equitable quantized benchmark for entrepreneurial management equity allocation. The study uses capital exclusivity as an entry point to perform theoretical analysis and demonstrates how the equity allocation of a technology-based entrepreneurial firm changes dynamically as the presentation speed of entrepreneurial management’s human capital exclusivity accelerates. The paper then constructs a conceptual model to design the financing structure of the technology-based entrepreneurial firm.

Findings

The study finds that stock incentive upwardly regulates debt financing and downwardly regulates equity financing. Based on characteristics of technology-based entrepreneurial firms, the paper suggests that the immediate surplus capital increment can signify the increasing presentation speed of human capital exclusivity, and it is proposed as an equitable quantized benchmark for equity allocation to entrepreneurial management. Based on the dynamic equity allocation model, the paper designs an internal equity and external debt financing structure.

Originality/Value

The conclusions enrich the theoretical foundation for entrepreneurial management to participate in residual claim and provide practical guidance for equity allocation and financing structure design in the context of mass entrepreneurship and innovation. The paper also sets up a conceptual framework for solving two major issues of the technology-based entrepreneurial firm: timely acquisition of external funding and lasting maintenance of entrepreneurial management stability.

Details

Nankai Business Review International, vol. 9 no. 3
Type: Research Article
ISSN: 2040-8749

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Article
Publication date: 18 August 2021

Suntong Qi, Ling Peng and Yu-Jen Chen

Most previous studies have indicated promotional attributes separately (e.g. time pressure, giveaways, price discounts, exclusivity) and found controversial effects. This…

Abstract

Purpose

Most previous studies have indicated promotional attributes separately (e.g. time pressure, giveaways, price discounts, exclusivity) and found controversial effects. This paper aims to explore how different attributes can be aligned with each other and integrated with different levels of brand strength to influence sales or purchase intention according to the fit logic.

Design/methodology/approach

Both field data and controlled experiments are used to understand the effectiveness of promotion configurations. This paper first conducts an exploratory study using qualitative comparative analysis, based on 625 online promotion campaigns. This paper identifies several effective configurations of promotion attributes, leading to the development of two hypotheses. Three experiments are then designed to test the validity of these two hypotheses.

Findings

The results show that strong brands should adopt nonmonetary promotion, whereas weak brands should adopt monetary promotion; exclusivity and time limitation should be used separately.

Research limitations/implications

This paper provides empirical insights on how promotion elicits sales in terms of the configuration of promotional attributes and brand strength. This paper examines the integrative effect of types of giveaways, promotion duration and promotion target as well as brand strength on promotion effectiveness. Future research can explore other promotional attributes. This study is a first attempt to introduce and apply the set-theoretic approach to address strategic research issues and inform strategic decisions and managerial actions.

Practical implications

The findings can facilitate marketers’ understanding and predictions of deal recipients’ responses to promotions.

Originality/value

This paper adopts a holistic view to investigate how different promotion attributes interact with one another to stimulate sales. It explores the integrative effect from field data and finds converging evidence through a set-theoretic approach and controlled experiments.

Details

Journal of Consumer Marketing, vol. 38 no. 6
Type: Research Article
ISSN: 0736-3761

Keywords

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Book part
Publication date: 11 August 2005

Brett M. Frischmann

Universities face incredibly difficult, complex decisions concerning the degree to which they participate in the process of commercializing research. The U.S. government…

Abstract

Universities face incredibly difficult, complex decisions concerning the degree to which they participate in the process of commercializing research. The U.S. government has made an explicit policy decision to allow funded entities to obtain patents and thereby has encouraged participation in the commercialization of federally funded research. The Bayh-Dole Act enables universities to participate in the commercialization process, but it does not obligate or constrain them to pursue any particular strategy with respect to federally funded research. Universities remain in the driver's seat and must decide carefully the extent to which they wish to participate in the commercialization process.The conventional view of the role of patents in the university research context is that patent-enabled exclusivity improves the supply-side functioning of markets for university research results as well as those markets further downstream for derivative commercial end-products. Both the reward and commercialization theories of patent law take patent-enabled exclusivity as the relevant means for fixing a supply-side problem – essentially, the undersupply of private investment in the production of patentable subject matter or in the development and commercialization of patentable subject matter that would occur in the absence of patent-enabled exclusivity.While the supply-side view of the role of patents in the university research context is important, a view from the demand side is needed to fully appreciate the role of patents in the university research context and to fully inform university decisions about the extent to which they wish to participate in the commercialization process. Introducing patents into the university research system, along with a host of other initiatives aimed at tightening the relationship between universities and industry, is also (if not primarily) about increasing connectivity between university science and technology research systems and the demands of industry for both university research outputs (research results and human capital) and upstream infrastructural capital necessary to produce such outputs.In this chapter, I explore how university science and technology research systems perform economically as infrastructural capital and explain how these systems generate social value. I explain how the availability of patents, coupled with decreased government funding, may lead to a slow and subtle shift in the allocation of infrastructure resources.

Details

University Entrepreneurship and Technology Transfer
Type: Book
ISBN: 978-1-84950-359-4

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Article
Publication date: 17 June 2020

May Yee Ng

This paper aims to provide an account of the legal development concerning civilian right to pursue legal action against public authorities. Review includes historical…

Abstract

Purpose

This paper aims to provide an account of the legal development concerning civilian right to pursue legal action against public authorities. Review includes historical recap of the state of law practiced prior to 1977 and the decision in the case of O’Reilly that forcefully limit individual’s right to bring action. Despite its blatant disregard of the relevant statute, the O’Reilly decision remains a valid precedent. The essay then considers subsequent law reform and the effect of the Human Rights Act 1998 in limiting the applicability of the O’Reilly principle. The essay aims to benefit law students and non-legal lay person.

Design/methodology/approach

The paper adopts a hermeneutics positivism approach in considering relevant case laws that is precedent to the matter under discussion. Thereupon, an interpretivism approach is applied to examine subsequent reforms and its impact on civilian right to seek justice.

Findings

Judicial exclusivity restrains right to seek justice, but is it not totally discredited due to public policy. UK membership in the EU is an obstacle to judicial sovereignty, but it is also an avenue to dilute exclusivity.

Social implications

This paper is presented in a simple easy-to-understand form that enable lay-person to understand the current state of law in matters concerning public law violation by public authorities and avenues available to them.

Originality/value

The paper contributes to reinforce understanding on the conflict between common law and statute, and current state of law concerning individual’s right to access to the court of law in cases related to public laws and public authorities.

Details

International Journal of Law and Management, vol. 62 no. 5
Type: Research Article
ISSN: 1754-243X

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Article
Publication date: 21 November 2011

Kabir C. Sen

The present paper aims to understand the underpinnings of the variations in brand level direct‐to‐consumer (DTC) advertising through a two‐part study. First, it seeks to…

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488

Abstract

Purpose

The present paper aims to understand the underpinnings of the variations in brand level direct‐to‐consumer (DTC) advertising through a two‐part study. First, it seeks to examine the various influences on advertising intensity (operationalized by advertising to sales ratios) in the context of DTC advertising. Second, it aims to analyze how changes in share of voice impact changes in market share.

Design/methodology/approach

Data on brand level advertising as well as sales were collected from different government and industry sources. This is used to compute the ratio of DTC advertising to sales as well as changes in share of voice, market share and average drug prices. A log‐log model is used to find parameter estimates based on OLS regression.

Findings

Market share has a negative influence on the ratio of advertising to sales. Drugs which have a greater degree of innovation (as judged by the FDA) appear to spend more on DTC advertising relative to sales. The paper also finds that an increase in share of voice is not associated with increased average drug prices, but is related to a growth of market share because of a change in the share of total prescriptions dispensed.

Originality/value

The paper is one of the few to examine the factors influencing advertising to sales ratios in the context of DTC advertising. It is also one of the first to investigate the relationship of changes in the share of voice with changes in market share.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 5 no. 4
Type: Research Article
ISSN: 1750-6123

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