Search results
1 – 10 of 18Nina Michaelidou, George Christodoulides and Caterina Presi
Limited research has examined the segment of ultra-high-net-worth individuals (UHNWIs). This study aims to explore how this segment self-presents with regard to luxury on…
Abstract
Purpose
Limited research has examined the segment of ultra-high-net-worth individuals (UHNWIs). This study aims to explore how this segment self-presents with regard to luxury on Instagram.
Design/methodology/approach
We use a qualitative research approach to content-analyze 815 publicly available photos on Instagram. The analytical approach involves multiple stages and yields three key themes.
Findings
Through Instagram images, UHNWIs engage in inconspicuous consumption via subtle displays of luxury possessions and more cues that indicate luxury experiences, power and social connections. The results further identify four dimensions of self-presentation in luxury consumption on social media: ostentatious, humble, revealed and hidden.
Research limitations/implications
The study adopts an inductive approach to identify themes related to UHNWIs’ self-presentation on Instagram. Other research could adopt a quantitative approach to identify drivers of the various themes. In addition, the unit of analysis was the photo posted by the UHNWI rather than the UHNWI himself or herself. Further research might explicitly consider the overall profile of each UHNWI and their holistic approach to posting with a view to developing a typology of UHNWIs based on the way they self-present and portray their luxury consumption.
Practical implications
Luxury marketers should focus on inconspicuous products and experiences that allow the UHNWIs to decelerate and spend time with their loved ones, access rare experiences and demonstrate power via their networks.
Originality/value
We extend prior research on self-presentation on Instagram. The authors focus on UHNWIs, a neglected yet significant segment of the luxury market.
Details
Keywords
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
During a time of economic uncertainty does the demand for luxury or high quality goods dry up? Do the well off, the rich, and even the super rich begin to tighten their belts along with everyone else? Do luxury retailers need to trade down in order to keep their products affordable?
Practical implications
The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.
Originality/value
The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.
Details
Keywords
The purpose of this paper is to identify how the socio-economic trends caused by the economic deregulation of the last four decades have led to a high-net-worth strata of…
Abstract
Purpose
The purpose of this paper is to identify how the socio-economic trends caused by the economic deregulation of the last four decades have led to a high-net-worth strata of individuals and families that conspicuously consumes luxury items and are the main customers in the luxury yacht market.
Design/methodology/approach
A selected cross-section review and discussion of relevant publications and theories within the field of tourism, social sciences, business and economic history are synthesised with relevant data to outline the factors leading to socio-economic change and conspicuous consumption.
Findings
This paper advocates for the synthesis of scholarly techniques found within the discipline of Business History to illuminate the development of a luxury yachting industry over the past four decades. Using the varieties of capitalism approach this paper demonstrates that the local characteristics of the BRIC (Brazil, Russia, India and China) in combination with the international globalisation and trade deregulation since 1980 has led to a new super wealthy class that engages in conspicuous consumption. Using a schema based on critical juncture theory, light has been shed on the specific factors underpinning the demand for luxury yachts as part of this conspicuous consumption.
Originality/value
This paper adds a new set of methodologies and theoretical tools to the student of luxury tourism that embed the practice within the context of socio-economic changes brought forth by economic globalisation since 1979, opening up new avenues of research.
Details
Keywords
Jim Devlin and Christine T. Ennew
The process of establishing a competitive advantage is at the heart of competitive marketing strategy. However, a competitive advantage cannot be established without a clear idea…
Abstract
The process of establishing a competitive advantage is at the heart of competitive marketing strategy. However, a competitive advantage cannot be established without a clear idea of what constitutes the relevant competitive arena. Theoretically, there are strong arguments for seeing both these processes as market‐driven, but in practice their implementation may present particular problems for financial services providers. The degree of complexity and intangibility which characterizes most financial services is generally thought to complicate the identification of a clear source of competitive advantage; it is also argued that these characteristics might affect the extent to which an organization may identify the appropriate competitive arena. Provides preliminary interview‐based evidence on the extent to which the market‐driven concepts of competitive advantage and competitive arena have been adopted in financial services and evaluates the extent to which they can be adopted, given the distinctive characteristics of many of the services concerned. Contends that the findings confirm the difficulties associated with the development of a clear competitive advantage and the relative unimportance of price; they also highlight the practical difficulties associated with defining the competitive arena as market‐driven. While these difficulties are common across the financial service providers interviewed, concludes that there is some evidence to suggest that market‐driven competitive arenas and sources of competitive advantage are more easily identifiable for specialist or niche players.
Details
Keywords
Sanjeev Tripathi and Kopal Agrawal Dhandhania
OGQ was founded by Geet Sethi and Prakash Padukone with the mission to support potential Olympic medal winners, in achieving their dream, with the help of all the stakeholders;…
Abstract
OGQ was founded by Geet Sethi and Prakash Padukone with the mission to support potential Olympic medal winners, in achieving their dream, with the help of all the stakeholders; and the vision to scout for potential talent and identify their needs. It had eminent personalities from sports who understood the problems with Indian sports and from industry who had a passion for sports and supported it. OGQ supported its athletes for the 2012 London Olympics through voluntary contributions and its athletes won four medals. For the 2016 Olympics, OGQ had a target of eight Olympic medals and was scaling up its support to athletes. Viren Rasquinha, the CEO of OGQ, knew that he had to focus on getting more contributions as he needed more resources to support the athletes. For this OGQ needed to review its communication strategy to the current and potential donors.
Details
Keywords
Susan Chaplinsky and Felicia C. Marston
This case is used in Darden's course elective, Corporate Financing, and is accompanied by a teaching note for instructors and Excel spreadsheet for students. The Carlyle Group IPO…
Abstract
This case is used in Darden's course elective, Corporate Financing, and is accompanied by a teaching note for instructors and Excel spreadsheet for students. The Carlyle Group IPO case explores the circumstances leading up to the firm's IPO in May 2012. Over the past 25 years, Carlyle had grown from a fledgling private equity firm to one of the world's largest and most diversified investment firms. Carlyle had prepared extensively for the roadshow; management anticipated some tough questions. Students are asked to evaluate the extent to which Carlyle is undervalued relative to its peers. The case provides information on how to evaluate the earnings received by the public shareholders and outlines several alternative approaches to value PPEs.
Details
Keywords
Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.
Abstract
Purpose
Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
You have got $15 million which needs investing and you are sitting in an office in central Zurich listening to the professional and personal advice of the people at leading Swiss bank UBS, a bank which has made its reputation out of managing private wealth. Your chair will no doubt have been occupied, and will be shortly after you vacate it, by people for whom a million dollars might seem like loose change.
Practical implications
Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.
Originality/value
The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.
Details
Keywords
In this series of extracts from the concluding chapter of Acharya’s book, Asset Management: Equities Demystified, the author argues that the major factor in future developments…
Abstract
In this series of extracts from the concluding chapter of Acharya’s book, Asset Management: Equities Demystified, the author argues that the major factor in future developments will be legislation and regulation. But she suggests that ultimately knowledge management will be the crucial competitive advantage. “As knowledge is power”, she says, “knowledge is more powerful today than ever before”.
Details
Keywords
Marcel Aloy and Gilles Dufrénot
This chapter proposes a comparative analysis of the monetary policies undertaken by the Federal Reserve Board and the European Central Bank after the 2008 subprime crisis. We…
Abstract
This chapter proposes a comparative analysis of the monetary policies undertaken by the Federal Reserve Board and the European Central Bank after the 2008 subprime crisis. We point out the twin nature of the financial crises in Europe in comparison with the US crises: in addition to the role of bank funding, the euro area countries have also experienced a structural problem of balance of payment disequilibria. This explains why in the early stages of the subprime crisis, the Fed has succeeded in tackling the illiquidity problems facing the banking sector, while the ECB did not. The Fed could then focus on tackling the recession in the real sector by adopting quantitative easing policies to exert downward pressure on the long-term interest-rate. In the euro area quantitative easing policies came later, in 2013. Even the forward guidance policies have been different between the two central banks. Unlike the ECB, the Fed has gone through diverse forward guidance policies: qualitative, calendar-based, and state-contingent. The chapter proposes a new survey of the monetary policies after the subprime crisis by comparing two strategies in different contexts: the United States and the euro area.
Details
Keywords
Georgia Warren-Myers, Anna Hurlimann and Judy Bush
The purpose of this paper is to understand the sources of climate change information used and trusted by key stakeholders in the Australian property industry, their information…
Abstract
Purpose
The purpose of this paper is to understand the sources of climate change information used and trusted by key stakeholders in the Australian property industry, their information needs and their capacity to translate that information into decision-making.
Design/methodology/approach
Qualitative research applying in-depth interviews with 24 key stakeholders from a diverse range of property/real estate companies in Australia.
Findings
This research identified a wide range of information types used by key stakeholders, ranging from reliance on unsophisticated mass media reporting to detailed analysis of scientific research. The capacity of stakeholders to translate this information for their organisation was polarised; 11 of the 24 interviewees indicated they had the capacity, while the other 13 indicated they did not, often owing to time horizons or lack of current interest within the organisation or from clients.
Research limitations/implications
This research was limited to 24 in-depth interviews and is not intended to be a representative sample. However, this limitation is offset by the fact that a diverse range of stakeholders were interviewed and an in-depth and rich understanding has been provided about their approach to climate change.
Practical implications
The results can inform the development of better communication channels for climate change for the property industry by supporting science-practice collaborations in the timely and effective dissemination of research. This is important to understand given the identified need to bridge the gap among research, policy and practice.
Social implications
Climate change poses significant challenges and risks for built environments. The property industry, as a key stakeholder, has great potential to influence current practices. The results reported here assist in addressing these challenges.
Originality/value
At present, limited research globally has been conducted about climate change actions in the property industry. This research responds to this gap.
Details