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Article
Publication date: 16 August 2021

Nina 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…

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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

European Journal of Marketing, vol. 56 no. 4
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 1 January 2013

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

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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

Strategic Direction, vol. 29 no. 1
Type: Research Article
ISSN: 0258-0543

Keywords

Article
Publication date: 26 May 2023

Duncan Philip Connors

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

Worldwide Hospitality and Tourism Themes, vol. 15 no. 4
Type: Research Article
ISSN: 1755-4217

Keywords

Article
Publication date: 1 June 1997

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…

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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

International Journal of Bank Marketing, vol. 15 no. 3
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 1 February 2006

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

790

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

Strategic Direction, vol. 22 no. 2
Type: Research Article
ISSN: 0258-0543

Keywords

Article
Publication date: 1 December 2002

Shanta Acharya

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…

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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

Balance Sheet, vol. 10 no. 4
Type: Research Article
ISSN: 0965-7967

Keywords

Article
Publication date: 22 June 2020

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

Journal of European Real Estate Research , vol. 13 no. 3
Type: Research Article
ISSN: 1753-9269

Keywords

Open Access
Article
Publication date: 6 April 2020

Babajide Fowowe

Farmers are the largest group of financially excluded persons in Nigeria, thereby highlighting the supply shortfall in finance to agriculture in Nigeria. Availability of finance…

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Abstract

Purpose

Farmers are the largest group of financially excluded persons in Nigeria, thereby highlighting the supply shortfall in finance to agriculture in Nigeria. Availability of finance would go a long way in improving output and productivity in agriculture, and consequently help in reducing poverty. This study conducts an empirical investigation of the effects of financial inclusion on agricultural productivity in Nigeria.

Design/methodology/approach

This study makes use of the Living Standards Measurement Study–Integrated Surveys on Agriculture (LSMS-ISA). This is a new data set on agricultural households which contains information on agricultural activities and various household activities, including banking, savings and insurance behaviour. Considering the data are such that there are observations for households over three time periods, the study exploits the time series and cross-section dimension of the data by using panel data estimation.

Findings

The empirical results of the study show that financial inclusion, irrespective of how it is measured, has exerted positive and statistically significant effects on agricultural productivity in Nigeria.

Originality/value

While considerable research has been conducted to examine how finance affects broad macroeconomic aggregates, little is known about the effects of finance at the household and individual level. It is important to explicitly account for financial inclusion when examining the effects of finance on individuals and households. This study improves on existing research and offers new insights into the effects of financial inclusion on the economic activities of agricultural households in Nigeria.

Details

Journal of Economics and Development, vol. 22 no. 1
Type: Research Article
ISSN: 1859-0020

Keywords

Article
Publication date: 24 July 2021

Noémi També Bearpark and Dionysios Demetis

This paper aims to explain the de-risking phenomenon through Luhmann’s risk/danger model and demonstrate that de-risking should be facilitated and encouraged.

Abstract

Purpose

This paper aims to explain the de-risking phenomenon through Luhmann’s risk/danger model and demonstrate that de-risking should be facilitated and encouraged.

Design/methodology/approach

The paper applies Luhmann’s system theory and more specifically his risk/danger model to describe the de-risking phenomenon and identify recommendations to address its consequences.

Findings

The paper finds that re-defining risk and the anti-money laundering (AML)’s community’s understanding of it can support key stakeholders’ understanding of money laundering (ML) risk and the way to better address consequences of AML decisions.

Practical implications

The paper has implications for the banking and regulatory community in relation to the interpretation of de-risking. As systems aim to minimise their exposure to risk, they should not be prevented from de-risking.

Originality/value

This paper aims to move away from a narrative description of AML phenomena and presents a theoretical foundation for the analysis of ML risk. The current response to de-risking which demonises it and aims to prevent it is deconstructed through this theoretical lens.

Details

Journal of Money Laundering Control, vol. 25 no. 1
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 9 November 2015

Koushiki Choudhury

The purpose of this paper is to explore how the different dimensions of service quality influence customers’ behavioural intentions in the private and public sector banks, that…

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Abstract

Purpose

The purpose of this paper is to explore how the different dimensions of service quality influence customers’ behavioural intentions in the private and public sector banks, that is, in class and mass banking, respectively, and the implications for the service provider, consumer, society and consumer policy.

Design/methodology/approach

A contextually modified SERVQUAL instrument was used to capture customers’ perceptions of service quality followed by exploratory factor analysis to study the dimensionality of service quality in retail banking. Multiple regression was used to probe the influence of the dimensions of service quality on customers’ behavioural intentions.

Findings

The study revealed four dimensions of service quality in retail banking, namely, customer-orientedness, reliability, tangibles and convenience and showed that the service quality factor customer-orientedness comprising of the responsiveness and attitude of employees is most important in influencing customers’ behavioural intentions in the case of private sector banks and reliability of the service is most influential in the case of public sector banks.

Research limitations/implications

Future research can focus on “service excellence” being extended beyond assessment of the quality of services, towards evaluation of the quality of life outcomes, to which public organizations contribute, appraisal of the quality of public governance processes and quality of performance in meeting social objectives.

Practical implications

Retail bank managers must realize the importance of employees providing competent, reliable service in the case of public sector banks and their responsiveness and behaviour towards customers in the case of private sector banks, as the keys to foster a culture of service excellence.

Social implications

High-quality financial consumer policy must not only be able to increase customer satisfaction with financial services but also build security and trust in public administration through transparent processes and accountability. In this context, with public agencies being regarded as service providers and citizens as customers, the concept of quality must also visualize public agencies as catalysts of a responsible and active civic society.

Originality/value

This study explores the relationship between service quality and customers’ behavioural intentions in the private and public sector banks by linking both constructs at their dimensional level. It highlights major implications for the service provider, society, consumer and public policy based on the different needs, characteristics and requirements of customers of class and mass banking, that is, private and public sector banks.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 27 no. 5
Type: Research Article
ISSN: 1355-5855

Keywords

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