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Monaco is a simultaneously a destination, a state and a city, which belongs to the long list of places that aims to become smart. The purpose of this paper is to present Monaco’s transformation strategy from October 2017 to May 2019. It will present Monaco’s smart urban ecosystem as a meeting point between the destination and the smart city.

The authors develop the methodology as an exploratory observation of the state transformations. The methodology relies on an understanding of smart cities policy from an insider perspective, as one of the co-authors participates in the “Matrice Smart-City Monaco” program (Season 1: Tourism), on a media coverage analysis and in a semi-directive interview with a stakeholder of the digital transformation in Monaco.

The paper empirically and theoretically explores the following three hypotheses: H1 – being a smart city/destination is less a status than a process; H2 – a permeable state city challenges the boundaries between the city and the smart destination; and H3 – the conceptualization of the smart city requires a broader definition of who its engaged stakeholders are.

The case of Monaco helps us to understand the role of tourism in a smart city and to deepen the link between “smart city” and “smart destination” from a theoretical point of view. Monaco offers us the opportunity to reinforce our understanding of the relationship between the smart city and the smart destination.

The study concerns a micro-state that aims to become smart using a top–down strategy. However, for a city to become smart, stakeholders including citizens must be able to support the process.

The study here probes how tourists interpret their unique experiences while traveling in Macau, Las Vegas, and Monaco – well-known “Gambling Meccas.” The study applies one form of brand netnography to collect and analyze information about traveling experience in these three cities. One positive travel blog and one negative are selected and discussed each for Macau, Las Vegas, and Monaco. The study examines the validity of balance theory – a motivational theory of attitude change (Heider, 1958). Balance theory conceptualizes the consistency motive as a drive toward psychological balance (Hokky, S., & Deni, K. (2004). Social balance theory: Revisiting Heider's balance theory for many agents. Departmental Technical Report (Unpublished). The study probes how iconic symbols of brands influence visitors' experience. The findings inform marketing strategic suggestions for Macau, Las Vegas, and Monaco on how to build an effective destination brand and how to improve visitors' traveling experience.

This study aimed to assess if an Italian artisanal pasta filata cheese, named Provolone del Monaco, is perceived by consumers as typical or not and if any variability exists among cheeses made by different dairies.

Two experiments were performed. In the first experiment, two artisanal Provolone del Monaco having different ripening times and two industrial Provolone cheeses were evaluated. A total of 95 subjects, divided into three homogeneous groups, first rated the samples in blind condition, then, after having received information about typicality; price, and both sets of information. In the second experiment, the quantitative descriptive profiles of eight Provolone del Monaco samples aged six months and made by different dairies were compared with the quantitative descriptive profiles of the same cheese aged ten months and provolone cheeses made by industrial dairies.

Consumer results revealed that consumers knowing typicality information gave a better score to cheeses markedly different. The price together with typicality information, represented a quality indicator. Cluster analysis of descriptive scores revealed homogeneity between the equally aged Provolone del Monaco samples. Moreover descriptive data showed that cheese was characterized by several specific attributes, that the consumer, probably, recognized as typical.

It must be noticed that once it was performed in Campania, the results extrapolation to other regions or countries should not be made unless similar results are found.

This study will contribute to better addressing consumer needs and enhancing the competitiveness of traditional foods.

Sociological researches about tourism of lesbian, gay, bisexual and transgender (LGBT) people are growing in number. These studies are carried out mainly in Anglo-Saxon countries, although nowadays tour operators, travel agencies, cruise and airline companies have started to reserve more and more services and promotions to this group of travellers all around the world. To fill this gap, the paper presents the results of a research that involved 650 Italian LGBT Millennial travellers.

Using the exploratory technique of multiple correspondence analysis, the research focussed on the study of decision-making processes, finding out the factors that drive young LGBT people to prefer one destination over the others, distinguishing motivations between pull and push factors.

For Italian LGBT Millennials, tourism means more than just recreation. Tourism could also represent a strategy that gives them temporary escape from social prejudice and inequality, since tourist experiences provide an opportunity to re-build LGBT people' sexual identity and enjoy social freedom that LGBT people are deprived of whilst being at home.

The analysis allowed to underline some differences. Even if LGBT people share the burden of being as a member of a sexual and gender minority, LGBT people attribute a slightly different meaning to tourism, considering distinct push and pull factors.

There is a paucity of evidence on how small new ventures cope with shifts from physical space to cyberspace imposed by external crises, such as pandemics. Further, even though the concept of space is highly relevant to understanding entrepreneurship, the concept has been underutilised in entrepreneurship research. In particular, the potential of understanding entrepreneurship in terms of the interplay between physical space and cyberspace is yet to be explored. The authors address these research gaps by pursuing the following research question: How did micro new ventures experience the shift from physical space to cyberspace (technology adaptation) imposed by the coronavirus disease 2019 (COVID-19) crisis?

Data were collected via semi-structured interviews with founders of start-ups associated with two incubators, in Spain and Monaco. Thematic analysis of interview transcripts was conducted, approaching the data with the focus on firm positioning in “real” space and in cyberspace and on possible transformations of business models.

The pandemic opened new opportunities for small new ventures, as many start-ups were successful in shifting into cyberspace by undergoing a radical digital transformation and ended up with more scalable business models and in many cases transformed themselves into micro-multinationals.

Overall, firms tended to shift from physical space to cyberspace, following the firms' customers to cyberspace, finding new and more international, customers in cyberspace or guiding the firms' existing customer base into cyberspace. Firms that maintained the pre-pandemic position were either already fully digital or had sufficient resources to hold position in the anticipation of the post-pandemic future.

The authors introduce the concept of cyberspace in the context of entrepreneurship studies and explore the trajectories of firms in a crisis.

This work aims to discuss the motivators for the consumption of pre-loved luxury items and verify how these motivators interact, leading consumers to engage in behaviors that blend the characteristics of different motivators: treasure hunting, bargain hunting and individuality seeking.

This is an exploratory dyadic qualitative research conducted using semi-structured in-depth interviews involving luxury brand store managers and loyal clients for pre-loved luxury products in Monaco.

Throughout the analysis, the authors found three types of behavior that incorporate different parts of motivators that have been considered as specific motivators for pre-loved luxury consumption: bargain hunting, an intersection of recreational and economic motivations, treasure hunting, a blend of nostalgic and recreational motivations, and individuality, a mix of need for uniqueness and fashion involvement motivation.

Identifying three types of behavior for the pre-loved luxury consumer helps practitioners craft marketing strategies for their brands and products in the pre-loved luxury market.

The authors propose a theoretical framework that identifies intersections between the motivators for pre-loved luxury consumption, potentially identifying new types of consumer behavior in this market.

To the best of the authors' knowledge, this is the first work to discuss these three types of behavior in the pre-loved luxury market. The authors propose a theoretical framework that identifies intersections between the motivators for pre-loved luxury consumption, potentially identifying new types of consumer behavior in this market.

Traditionally, international luxury marketing highlights possible disparities of cultural and value perception. The context-specific nature of traditional international luxury marketing, which ranges from educational and cultural to financial and offering-based variations, delivers little guidance to managers in the field regarding how to cater best to their highest target segment. The study aims to exemplify the relevance of global consumer culture (GCC) theory for the ultra-high-net-worth-individual (UHNWI) context. The authors' research on UHNWIs maps the DNA, so to speak, of the UHNWI customer experience (CX) by determining what drives UHNWI purchasing behavior independent of background – in other words, what matters most to this exclusive consumer segment.

Interviewing 15 UHNWIs using a means-end approach and incorporating the emerging consensus technique (ECT), the authors explored the CX of UHNWIs leading to their purchasing decisions.

The authors' analysis reveals the three main constituents of the UHNWI CX: the value of time, expectation mismanagement and the utilitarian nature of luxury. The findings highlight that UHNWIs see traditional luxury as a necessity rather than a luxury and value different factors, such as time, much more highly. The findings highlight the UHNWI homogenous nature, connecting GCC to purchasing behavior.

The authors' study delivers empirical evidence of what matters most to the UHNWI segment and drives their purchasing behavior. The authors are questioning existing luxury segmentation strategies and lay out a clear guidance on how to design and deliver effective and efficient marketing, sales and communications strategies for the elusive UHNWI segment. The research highlights that it is the experience and the three main dimensions, namely expectation mismanagement, luxury as a utility and the value of time. Following UHNWI CX DNA framework will allow luxury companies to build their marketing and client acquisition efforts on a solid understanding of what matters most to the UHNWI target segment.

The study highlights the commonalities of UHNWIs in terms of what matters most to them. Based on this, the authors develop a UHNWI CX DNA. The authors propose that traditional context-specific differences upheld by international marketing researchers might not apply to the UHNWI segment. The authors deliver evidence that UHNWI are an excellent example of the applicability of GCC theory. The only difference in perception the authors noticed was between CX evaluations of self-made UHNWIs and those who inherited their wealth in an otherwise homogenous segment.

The purpose of this paper is to provoke further research and analysis into what it takes to successfully start and grow a new global venture, which sources a product in China, and resells it in Europe and the USA.

This paper explores the early stages of the establishment of a new venture, and a new brand. The venture – Zelective, was founded by two MBA students working on an applied research project that was then turned into a company located in the Principality of Monaco. Importing their cashmere clothing from Inner Mongolia, China, this small firm has enjoyed significant success by designing a line of clothing that is colorful, sexy, and distinctive, while also executing a sales and marketing strategy that has increased their brands awareness, and consequently, their sales to some top tier retailers in Europe.

The next challenge for the firm is to expand their efforts, while maintaining the provocative edge.

This case provides insight into the challenges of starting up a new venture which sources product from China. Students have a series of questions which are designed at having them research the opportunities for Zelective moving forward, helping them determine the firms growth strategy. This case can be used in a wide range of context, from marketing, sales, and brand management, to strategy and logistics.

This study aims to address the need to empirically investigate the luxury customer service experiences of the ultra-high-net-worth individual (UHNWI) segment by conducting and analyzing interviews with 20 clients flying private jets. The results lead to a conceptualization of the UHNW private aviation customer experience.

This study applied a three-step method to explore the meaning and domain of the UHNWI luxury service experience. First, the perception and corresponding attributes of customers’ experiences using private aviation services were examined through 20 in-depth interviews and by using the soft laddering technique. Second, this study coded and, subsequently, purified the data by means of a systematic comparison approach and hierarchical coding. Third, a panel of judges, using the emerging consensus technique, scrutinized and validated the emerging dimensions.

The analysis reveals the customer experience (CX) and motivations differ significantly between business and leisure use, moving from a functional toward an experiential value focus. The findings emphasize the lack of social value for the UHNWI CX and introduce time as a new value dimension.

This study provides multiple contributions to the customer experience, luxury and luxury services literature. This study enhances scholarly understandings of the holistic UHNWI CX in the context of an absolute luxury offering, thus providing a needed conceptualization of an underresearched customer segment, namely, the UHNWI. It delivers insights on the different motivations and experience UHNWI are seeking for according to the context. This study proposes a new luxury value dimension: time.

This study highlights multiple opportunities for UHNWI customer experience improvement. The findings reveal that different clients are looking for different experiences in terms of business versus leisure use. The key drivers and expectations shift from functional (price/availability/flexibility) to experiential factors (comfort/onboard experience/relationship with crew and pilot). Communication, marketing and CX management strategies and tactics need to emphasize this important distinction regarding what drives client behavior in the private aviation setting.

The contribution of this paper is threefold. First, it defines UHNWI characteristics and overall experiences using the unique über-service of private aviation, thus advancing scholarly understanding of both the luxury customer and the luxury customer service experience beyond the proposed traditional drivers of luxury consumption. Second, this study expands the conceptual foundation for the UHNWI “über-luxury” service experience, which, given the importance of the UHNWI segment, is important. Third, this study contributes to theoretical knowledge by extending customer value perception in the luxury context by introducing the luxury value dimension of time. This study concludes with a discussion of its findings’ implications for luxury research and practice, providing a future research agenda with regard to UHNW.

One aspect of the growing issuance in catastrophe bonds is the increasing geographic diversity of coverage. Although catastrophe bonds initially focused on a single peril and territory, more recently they have been structured with independent multiple event triggers, differing according to peril and territory. This paper reviews the territorial development of catastrophe bonds and explores the geographical horizon for new issues.