Search results

As some areas of the luxury market have been industrializing because of their expanding scale and scope, the commoditization trend is threatening luxury brands along the value chain. Too many products might flood the market. Because the commodity trap has not so far been commonly referred to as the source of the problem, the efforts of firms to decommoditize have seldom been described. The purpose of this paper is to describe and interpret one type of successful reaction to this problem: the exclusive partnership made by Louis Vuitton with artist Takashi Murakami. The paper identifies the strategy along the value chain and its step by step implementation and influence on commoditization.

The paper identifies the strategy behind this partnership and its step by step implementation. It uses a qualitative method because it would like to understand complex phenomenon and explore in depth, some strategic operations and decisions. More precisely, it is a case study research because it works on a contemporary situation and allows to retain the meaningful characteristics of real-life events as organizational, managerial and social processes

LV strategy raises the difficulty for competitors to imitate or to propose same value products as the value added to LV product is almost unique with Murakami ' s touch. With this strategy they impact commoditization as defined by Reimann et al. Also, we formulate a few recommendations and insist on the integration of all the parts of the upstream value chain- especially operations – to achieve a successful long-term retail strategy.

There are no research on partnerships between art and luxury. Our extensive analysis of the partnership between LV and Murakami gives a comprehensive view of how this kind of collaboration helps to fight back commoditization. However, more case studies should be studied to know if the strategy is replicable.

This research gives a comprehensive analysis of the adaptation of the value chain to make the partnership a success. It also underlines the need to conduct and to adapt the whole value chain to the specifities of the artist.

There are few research investigating the links and partnerships between artists and luxury brands. The originality is to describe a particular partnership concerning all the parts of the upstream value chain – especially operations – it also makes recommendations concerning potential partnerships between art and luxury to fight back against commoditization.

This paper aims to acquaint readers with Louis J. DeLamarter and the innovative strategies he used to extend the profitability of the street railway in the USA.

Initially the researchers were interested in street railways (trolleys) and why they had flourished in Grand Rapid, Michigan when they were failing in other parts of the USA. Extensive research in local and national newspapers, business journals and trade publications of the time led to the story of Louis J. DeLamarter. His innovative approach to running the street railway in Grand Rapids MI emerged as the cause of the Grand Rapids Railway Company's unique, though temporary, success.

DeLamarter conceived and implemented a number of innovative marketing practices which were rooted in a differentiation strategy: he focused on the customer whereas other transportation companies did not. His strategy made the company successful after others became bankrupt. His ideas were lauded in the industry, adopted, and are still used in public transportation today. Only external factors such as the depression, the advent of the automobile and burdensome regulations undermined his success.

Despite extensive searches, no original papers by DeLamarter could be located.

Public service companies worldwide can learn about the importance of customer focus from DeLamarter's work. Additionally, managers can learn that even the most successful innovative strategy will only yield a short‐term competitive advantage if the industry faces unfavorable external factors.

The story of Louis J. DeLamarter and his innovations in public transportation are presented for the first time.

THERE IS SIGNIFICANCE, perhaps, in the fact that in 1876, the year the first library in Moberly, Missouri, probably disappeared, a Wizard came to town. Professor Macallister, the Prince of Magic Performers, gave ‘great entertainments’ for three days, April 3rd, 4th and 5th, at Morgan's Opera House. ‘Without a peer in his line of business’, and ‘a gentleman whom it is a pleasure to know’, wrote the editor of the Moberly Enterprise‐Monitor (the first daily published in Moberly, its first issue dated 3 April 1873). ‘Do not be misled by classing the great East Indian magician with inferior traveling concerns, styling themselves Fakirs, etc. They not only injure reputations of first class magicians, but they give their patrons snide jewelry and sham watches for presents.’ Not so Professor Mac‐allister, who, in addition to his first‐class performance, distributed one hundred costly and valuable presents each evening: china tea sets, chamber sets, tête‐à‐têtes, chairs, marble‐topped tables, bureaus, American watches. Wisely, too, these articles were not brought out of the Wizard's hat but were purchased by his canny manager, Mr Harry Weston, from the business houses in the town. Any resident—or visiting drummer—for 25 cents (50 cents reserved seat) could see a true Wizard perform and also have a chance of winning atête‐à‐tête or a chamber set.

This study analyzes the impact of packaging-free practices in food retail stores, particularly supermarkets, on customer loyalty.

Based on the literature on the impacts of sustainable practices and corporate social responsibility (CSR) policies on consumer behavior, this study defined a set of seven hypotheses that were tested using data collected from 447 consumers that regularly buy food products at supermarkets. The data were subjected to structural equation modeling using SmartPLS.

This study confirmed that packaging-free practices positively influence brand image, brand trust, satisfaction and customer loyalty. The expected positive impacts of brand image and satisfaction on customer loyalty were also confirmed. However, the expected impact of brand trust on customer loyalty was not confirmed.

This article demonstrates how a competitive sector can reap benefits from implementing sustainable practices in the operational domain, particularly by offering packaging-free products at the point of purchase. Thus, as recommended, general retail stores (e.g. supermarkets) gradually increase the stores' offering of packaging-free food products, as this practice has been shown to have positive impacts not only on brand image, but also on customer satisfaction and loyalty.

This study extends the literature on the effects of sustainable practices on customer loyalty, by focusing on a specific practice. Furthermore, this study contributes to the advancement of research on packaging-free practices in retail by developing a research framework and providing evidence on the direct and indirect effects of this specific practice on customer loyalty.

We present a continuous time series on first cabin passenger fares for ocean travel from New York to the British Isles covering nearly a century of time. We discuss the conceptual and empirical difficulties of constructing such a time series, and examine the reasons for differences between the behavior of advertised fares and those based on passenger revenues. We find that while there are conceptual differences between these two measurements, as well as differences in the average values, the two generally moved in parallel, which means that the advertised fare series can serve as a reasonable proxy for movement of the revenue-based fares. We also find that advertised fares declined over time, roughly paralleling the drop in freight rates for US bulk exports, until around 1890, but thereafter increased while freight rates continued to decline. We propose several hypotheses for this divergent behavior and suggest lines of future research.

The purpose of this paper is to investigate the link between ownership structure, earnings management (EM) preceding mergers and acquisitions (M&A) and the acquiring firm's subsequent long‐term market performance.

The authors measure the magnitude of discretionary current accruals using two methodologies, that of Teoh et al. and that of Kothari et al. The latter methodology is used to control for the presence of extreme performance prior to the event. The calendar‐time Fama‐French three‐factor model was used to evaluate long‐term stock performance and to minimize potential problems related to the cross‐sectional dependence of the returns.

It was found that firms using stock as a financing medium exhibit significant positive discretionary accruals during the year preceding the M&A and during the year of the acquisition. It was also documented that voting right concentration and control‐enhancing mechanisms are not associated with any significant level of earnings management. Finally, a negative association was found between EM and abnormal stock returns over a three‐year period following the acquisition.

These results suggest that the concentrated ownership alignment effect dominates the entrenchment motives and acts as a deterrent mechanism to prevent controlling shareholders from managing earnings in stock‐financed M&A.

The authors’ results highlight the importance of maintaining good legal and extra‐legal protection of minority shareholders. Regulators can play an important role in preventing dominant shareholders from engaging in opportunistic EM in stock‐financed M&A.

The paper extends prior literature by taking a closer look at dominant shareholders’ motivations to manage earnings in stock‐financed M&A. Large shareholders have strong incentives to manage earnings upward prior to stock‐financed transactions to limit the dilution of their controlling position.

This chapter addresses authentic leadership at the intersection of tradition and modernity with a focus on insider-outsider dynamics. The authors develop a typology of insider-outsider perception of authentic leadership and four leadership types – detached leadership, integrative leadership, entrenched leadership and atomised leadership – to provide a conceptual tool that advances authentic leadership research and leadership-building strategies. Investigating the intersection of tradition and modernity, Lines and Turcan illustrate that authenticity and legitimacy are tightly coupled. Leaders need to develop insider legitimacy by alignment with contextual norms, traditions and customs. Lines and Turcan encourage future research to explore the question: Is leadership more about establishing contextual legitimacy or establishing authenticity?

The purpose of this paper is to develop and test a framework to investigate the relationship between perceived value, satisfaction, trust and behavioral intentions and the moderator effect of the cruise line on cruise passengers’ perceptions.

A structural model was developed. In order to verify the hypotheses, a total of 729 cruise passengers were sampled. The study of the data used structural equation models by means of a multi-group analysis.

The results of this study suggest significant paths to increase behavioral intentions: perceived service quality? satisfaction? trust?. In addition, it has been proved that the cruise line moderates the relationships between constructs in most of the relationships in the two cruise lines analyzed.

The differences in the relationships of perceived service quality with overall satisfaction, trust and behavioral intentions suggest that one of the cruise lines analyzed ought to make decisions to improve the installations and the services on board the ships. These decisions involve substantial investments which affect, as well as the marketing management regarding the design of the product, the financial management and also the CEO.

Unlike earlier studies of cruise tourism carried out in Caribbean and Asian destinations, this study empirically tested a model of the formation of behavioral intentions which incorporates trust as a mediator variable between satisfaction and behavioral intentions and between perceived service quality and behavioral intentions in the Mediterranean. Also tests the moderator effect exercised by the cruise line on the consumers’ perception on the way to behavioral intentions.