Priceless time – The UHNWI's most precious possession: implications for international marketing theory and practice

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Philipp ‘Phil’ Klaus ◽  
JungKun Park ◽  
Annalisa Tarquini-Poli
Keyword(s):  
International Marketing ◽  
Theory And Practice ◽  
Value Of Time ◽  
Purchasing Behavior ◽  
Content Type ◽  
Net Worth ◽  
Target Segment ◽  
Luxury Marketing ◽  
Context Specific ◽  
What Matters

PurposeTraditionally, 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.Design/methodology/approachInterviewing 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.FindingsThe 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.Practical implicationsThe 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.Originality/valueThe 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.

Bank relationships’ contributions to SME export performance

2019 ◽  
Vol 37 (5) ◽  
pp. 1143-1164 ◽  
Author(s):  
Heléne Lundberg
Keyword(s):  
International Business ◽  
Export Performance ◽  
International Marketing ◽  
Value Added ◽  
Ordinary Least Squares ◽  
Theory And Practice ◽  
Marketing Theory ◽  
Content Type ◽  
Study Results ◽  
Bank Marketing

Purpose The purpose of this paper is to examine to what extent, and in what ways, various types of bank support improve small and medium-sized enterprise (SME) export performance. It contributes to bank marketing and international marketing theory and practice by clarifying bank contributions to SME export performance at the firm level. Design/methodology/approach The study method is an on-site survey, encompassing 135 manufacturing Swedish SMEs. Five hypotheses are tested using ordinary least squares regression. Findings The higher the export performance, the greater the importance attributed to bank funding of international business. The importance of transaction and/or currency services provided by banks for SMEs’ ability to do business abroad was confirmed, but with the important limitation that the effect diminishes as the number of markets increases. Furthermore, the results indicate that SMEs with low export performance attach a high importance to the advisory services that banks can offer regarding international business. No significant results for knowledge sharing or support from bank contacts were found. Practical implications SME managers are encouraged to view banks as potential providers of a diverse set of value-added resources while taking into consideration that some banks will have more developed resources and support policies than others. The study results also assist banks in building effective strategies for enhancing their relationships with SME clients, as it provides detailed information on how SMEs relate different kinds of bank services to their export performance. Originality/value As the first paper to describe SME-perceived relationships between different bank services and export performance, this study informs bank marketing and international marketing theory about bank contributions to SME internationalisation.

Place-based business models for resilient local economies

2017 ◽  
Vol 11 (1) ◽  
pp. 113-128 ◽  
Author(s):  
Dante Di Gregorio
Keyword(s):  
Case Studies ◽  
Sense Of Place ◽  
Business Models ◽  
Theory And Practice ◽  
Local Context ◽  
Tight Coupling ◽  
Economic Resilience ◽  
Slow Food ◽  
Content Type ◽  
Context Specific

Purpose This purpose of this paper is to introduce and analyze the concept of place-based business models, by which entrepreneurs use highly context-specific strategies and linkages to a “sense of place” as sources of value creation. To illustrate how place-based business models create unique value, case studies are reviewed from three sectors in Italy: Slow Food (Coop Italia and Eataly), agritourism (Spannocchia) and the albergo diffuso (Sextantio). Design/methodology/approach This is a conceptual paper with case studies from qualitative data and external sources. Findings The case studies demonstrate the value-creating potential of opportunities for the implementation of place-based business models. In contrast with conventional harm reduction perspectives, these models show how organizational contributions to local and regional resilience may also directly generate competitive advantage. The cases also illustrate challenges such as scaling up while maintaining authenticity, and coping with the public goods-nature of place-based resources. Originality/value Conventional management theory and practice treat environmental context as a distraction from which the technical core of the organization must be protected. Place-based business models diverge from convention by using tight coupling with local context to create value, enhance local economic resilience and contribute to a “sense of place”.

scholarly journals Framing hybrid exchanges in subsistence contexts

2018 ◽  
Vol 35 (4) ◽  
pp. 601-618 ◽  
Author(s):  
Fredah Gakii Mwiti ◽  
Winfred Ikiring Onyas
Keyword(s):  
Social Relations ◽  
Low Income ◽  
Participant Observation ◽  
International Marketing ◽  
Theory And Practice ◽  
Visual Methods ◽  
Marketing Theory ◽  
Content Type ◽  
International Firms ◽  
Field Note

Purpose The purpose of this paper is to deepen the understanding of subsistence exchange practices and their contribution to international marketing theory and practice. It draws on the notion of embeddedness to examine the hybrid exchange practices unfolding within subsistence communities, and between subsistence communities and (international) firms. Design/methodology/approach The paper reports two ethnographic studies conducted in low-income farming and slum communities in Uganda and Kenya, respectively. Both studies involved participant observation, interviews, field note-taking and visual methods. Findings The findings demonstrate that hybrid exchange systems prevail in subsistence contexts, supporting both market and non-market logics simultaneously. Actors remain deeply embedded in their social worlds during exchange, making it problematic to disentangle social relations from market exchanges. Research limitations/implications The study suggests implications for international firms interested in forging business partnerships with subsistence actors. It calls for international marketers to surpass the traditional marketing roles and develop competences that enable firms to meaningfully embed in subsistence contexts. Further research could explore how international marketers could develop such competences. Originality/value The paper draws from diverse exchange literature to demonstrate how subsistence actors become actively involved in shaping hybrid exchanges that (potentially) incorporate international firms. The study calls for a broader understanding of international marketing, which accounts for the embedded marketing practices entailed in serving subsistence markets. It concludes that categorizing exchanges as either economic or social is problematic as both forms co-evolve to constitute multiple levels of intra-community, local marketplace and extensive hybrid exchanges.

scholarly journals Transforming human trafficking rescue services in Nigeria: towards context-specific intersectionality and trauma-informed perspectives

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Foluké Abigail Badejo ◽  
Ross Gordon ◽  
Robyn Mayes
Keyword(s):  
Human Trafficking ◽  
Well Being ◽  
Ethnographic Study ◽  
Theory And Practice ◽  
Service Research ◽  
Cultural Norms ◽  
Content Type ◽  
Rescue Service ◽  
Trauma Informed ◽  
Context Specific

Purpose This study aims to introduce context-specific intersectionality and trauma-informed perspectives for transformative services theory and practice. While transformative service research concerning vulnerable people has focused on well-being and alleviating suffering, there has been less attention paid to how the intersection of scales of social categorisation such as class, gender and cultural norms shapes experiences and outcomes. Likewise, there is a paucity of attention to how lived experiences of trauma among people, such as human trafficking survivors, can and should influence service interactions, delivery and outcomes. Design/methodology/approach The authors draw upon insights from a focused ethnographic study featuring narrative interviews with ten human trafficking survivors and seven rescue service industry stakeholders, as well as field observations, in Nigeria. Thus, this work enriches the limited scholarship on transformative services across Africa, where local cultural contexts have a significant influence on shaping service environments. Findings The authors identify how the intersections of socio-economic class, gender dynamics, cultural norms and trauma shape the service experience for survivors. Originality/value The authors argue for the criticality of intersectionality and trauma-informed perspectives to transformative services to improve the mental and economic well-being of survivors of human trafficking in the long term.

scholarly journals Unpacking the package

2015 ◽  
Vol 12 (4) ◽  
pp. 346-376 ◽  
Author(s):  
Mark Evans ◽  
Basil Phillip Tucker
Keyword(s):  
Organisational Change ◽  
Clean Energy ◽  
Management Control ◽  
Theory And Practice ◽  
Structured Interviews ◽  
Informal Control ◽  
Content Type ◽  
Energy Company ◽  
Management Controls ◽  
Control Package

Purpose – The purpose of this paper is to explore the ways in which both formal and informal control, operating as a package, are implicated in responding to organisational change arising from the introduction of the Australian Federal Government’s Clean Energy Act (2011). Design/methodology/approach – This investigation is based on a review of archival data, and semi-structured interviews conducted with 15 staff at different hierarchical levels within an Australian renewable energy company. Findings – Although formal management control systems and informal control both played important roles in the organisation’s reorientation to organisational change, it was the latter form of control that predominated over the former. The influence of the prevailing organisational culture, however, was pivotal in orchestrating both formal and informal control efforts within this organisation. Originality/value – This study contributes to management control theory and practice in two ways: first, it provides much needed empirical evidence about the ways in which management controls act as a package; second, it offers insights into the relative importance of the components of a management control package in the context of a particular organisational change. In addition, it responds to Laughlin’s (1991) call for empirical “flesh” to be added to the skeletal framework he advocates to make this conceptualisation of organisational change, “more meaningful”.

Dave Snowden on KM and big data/analytics: interview with David J. Pauleen

2017 ◽  
Vol 21 (1) ◽  
pp. 12-17 ◽  
Author(s):  
David J. Pauleen
Keyword(s):  
Big Data ◽  
Data Analytics ◽  
Big Data Analytics ◽  
Theory And Practice ◽  
Content Type ◽  
Face To Face ◽  
The Relationship ◽  
A Company ◽  
Practical Implications ◽  
Scientific Officer

Purpose Dave Snowden has been an important voice in knowledge management over the years. As the founder and chief scientific officer of Cognitive Edge, a company focused on the development of the theory and practice of social complexity, he offers informative views on the relationship between big data/analytics and KM. Design/methodology/approach A face-to-face interview was held with Dave Snowden in May 2015 in Auckland, New Zealand. Findings According to Snowden, analytics in the form of algorithms are imperfect and can only to a small extent capture the reasoning and analytical capabilities of people. For this reason, while big data/analytics can be useful, they are limited and must be used in conjunction with human knowledge and reasoning. Practical implications Snowden offers his views on big data/analytics and how they can be used effectively in real world situations in combination with human reasoning and input, for example in fields from resource management to individual health care. Originality/value Snowden is an innovative thinker. He combines knowledge and experience from many fields and offers original views and understanding of big data/analytics, knowledge and management.

Moderating role of patriotism on sales tax compliance among Jordanian SMEs

2020 ◽  
Vol 13 (3) ◽  
pp. 389-415 ◽  
Author(s):  
Ahmad Farhan Alshira'h ◽  
Hijattulah Abdul-Jabbar
Keyword(s):  
Tax Compliance ◽  
Arab Countries ◽  
Moderating Effect ◽  
Theory And Practice ◽  
Sales Tax ◽  
Deterrence Theory ◽  
Content Type ◽  
Tax Rate ◽  
Tax Audit ◽  
The Impact

Purpose The purpose of this paper is to investigate the impact of tax audit, tax rate and tax penalty on sales tax compliance and examine the moderating effect of patriotism on the associations between tax audit, tax rate and tax penalty with sales tax compliance among Jordanian manufacturing small- and medium-sized enterprises (SMEs). Design/methodology/approach In this study, 660 questionnaires were distributed by using systematic random sampling to manufacturing SMEs in Jordan, after which a total of 385 useable questionnaires were deemed suitable for analysis. Partial least squares structural equation modelling (PLS-SEM) was used to validate the measurement model and structural model and the predictive relevance of the study’s model. Findings The findings showed that tax audit and tax penalty were positively associated with the level of sales tax compliance, whereas tax rate was insignificantly associated with sales tax compliance. They also demonstrated the moderating significant effect of patriotism on the relationship between tax penalty, tax audit and tax rate with sales tax compliance. Research limitations/implications Tax authorities and policymakers in developing majority societies in developing countries and in other Arab countries, especially in Jordan may use the results to focus their interest on the formulation of policies founded on the outcomes of the study to strengthen eligible SMEs to comply to further boost their sales collections. Originality/value This study extends the deterrence theory in the context of sales tax compliance by proposing the moderating effect of patriotism in the deterrence theory on sales tax compliance among SMEs. Moreover, the suitability for the use of PLS-SEM as a statistical tool in investigating the extended deterrence theory with patriotism as a moderating variable as well as its implications for theory and practice was also discussed.

Embeddedness and entrepreneurial traditions

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Maria Elo ◽  
Leo-Paul Dana
Keyword(s):  
Social Ties ◽  
Extended Family ◽  
Business Environment ◽  
Content Type ◽  
Original Culture ◽  
New Locations ◽  
Business Entities ◽  
Time Changes ◽  
The Individual ◽  
Context Specific

Purpose The purpose of this paper is to explore how entrepreneurship traditions evolve in diaspora. Design/methodology/approach A qualitative multiple case study examining the role of diaspora embeddedness, extended family, ethno-religious-, cultural- and social ties and relevant structures shaping diaspora entrepreneurship. Findings The authors found that social ties and diaspora embeddedness create dynamism fostering entrepreneurial identity as a part of the Bukharian culture, and as a preferred career option in the context of Bukharian Jews in diaspora. Diasporic family businesses are products of culture and tradition that migrate to new locations with families and communities, not as disconnected business entities. Research limitations/implications The ways in which families nurture a highly entrepreneurial culture that transfers across generations and contexts are context-specific and not per se generalizable to other diasporas. Practical implications Diasporans often continue their traditions and become again entrepreneurs after their settlement, or they may generate hybrid, circular solutions that allow them to employ their competences in the new contexts or connecting various contexts. This calls for transnational entrepreneurship-policymaking. Social implications Time changes diasporas. A long-term commitment to the business environment evolves and reduces the mobility of the individual diasporan; typically the children of these migrants become more integrated and develop divergent career paths. Hence, their plans are not necessarily including family entrepreneurship creating a challenge for continuation of the original culture of entrepreneurship. Originality/value Despite a notable tradition in Jewish studies, there is limited research on Jewish entrepreneurial diaspora and its contemporary entrepreneurial identity and tradition. Furthermore, the population of Bukharian Jews is an unknown and under-explored highly entrepreneurial group that may offer instrumental views to larger diasporic audiences being concerned about maintaining notions of ethnic heritage and identity.

Journey towards best practices in acting on early warning signs in complex projects within a Russian context

2015 ◽  
Vol 8 (4) ◽  
pp. 828-843 ◽  
Author(s):  
Gulnara Sharaborova ◽  
Derek H.T. Walker ◽  
Guinevere Gilbert
Keyword(s):  
Early Warning ◽  
Point Of View ◽  
Warning Signs ◽  
Theory And Practice ◽  
Doctoral Study ◽  
Content Type ◽  
Early Warning Signs ◽  
Complex Projects ◽  
Research Findings ◽  
Phd Thesis

Purpose – The purpose of this paper is to provide a summary report and reflect on a recently passed PhD thesis (Sharaborova, 2014b) related to project management topics. Design/methodology/approach – This paper focussed on narrative reflection upon the completed doctoral journey. Findings – This paper presents the thesis findings, the research models, the guide in dealing with the early warning signs that developed as a result of this research and the contribution made to theory and practice. Research limitations/implications – Limitations of the research and the perspectives of the further diffusion of the research findings are considered. Originality/value – This TRN is a PhD candidate’s point of view as well as the opinions of the scientific research supervisors about the doctoral study and its outcome. The paper could be useful for novice researchers who wish to conduct their research and did not yet make a decision.

Coalition loyalty-programme adoption and urban commercial-network effectiveness evaluation

2014 ◽  
Vol 42 (9) ◽  
pp. 818-838 ◽  
Author(s):  
Ivan De Noni ◽  
Luigi Orsi ◽  
Luca Zanderighi
Keyword(s):  
Urban Areas ◽  
Dynamic Network ◽  
Theory And Practice ◽  
Evaluation Methodology ◽  
Marketing Theory ◽  
Urban Network ◽  
Content Type ◽  
Network Effectiveness ◽  
Commercial Network ◽  
Loyalty Programme

Purpose – To counter the proliferation of out-of-town shopping centres, a spontaneous or planned coalition loyalty programme (CLP), one involving most retailers in an urban network, may positively affect a town centre's capacity to entice customers and may enhance its competitiveness. The purpose of this paper is to assess the effectiveness of CLP implementation in town-centre management (TCM) as a tool for enhancing urban commercial-system attractiveness. Design/methodology/approach – The theoretical framework used in this study is supported by the evaluation methodologies of an empirical case study: the Savigliano Card project. CLP performance analysis uses a dynamic network-competitiveness index, an approach based on Laspeyres-type decomposition. The effects on each retailer's profitability are then tested by matching network and regression analyses. Findings – The results suggest that CLPs implementation in a TCM scheme can produce benefits and positive externalities for customers, retailers and urban areas. CLPs can influence a town centre's revitalisation process, improve the attractiveness of the urban commercial network and increase the profitability of private retailers by enhancing cross-selling dynamics. Practical implications – The paper provides a CLP performance-evaluation methodology and presents the benefits concerning CLP implementation in TCM strategies. Originality/value – This type of CLP is weakly exploited in marketing theory and practice; therefore, the paper provides theoretical and empirical explanations for the measurement of CLP effectiveness in TCM. In addition, it has significant implications for both practitioners and academics.

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