Creative heritage: Overcoming tensions between innovation and tradition in the luxury industry

Pérez, Daniel Carvajal; Masson, Pascal Le; Weil, Benoît; Araud, Axelle; Chaperon, Vincent

doi:10.1111/caim.12378

Cited by 13 publications

(5 citation statements)

References 65 publications

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“…Second, we have introduced the concept of TDBM coming from the use of knowledge embedded in traditions as a distinctive resource on which to develop a BM. In line with previous research on BMs (Manfredi Latilla et al , 2018; Reinhold et al , 2017), we conclude that this approach capitalizes on activities that are designed by recombining past knowledge to furnish the transformative experiences that customers increasingly seek (Carvajal Pérez et al , 2020; Pung et al , 2020). At the same time, it is important to note that this should not merely reflect traditions from the past, but rather that organizations need to be capable of updating these traditions, lining them up with new and emerging market needs and expectations.…”

Section: Discussionsupporting

confidence: 86%

Tradition-driven business models at luxury companies: revealing value-creation and value-capture activities

Franco

Presenza

Petruzzelli

et al. 2022

JKM

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Purpose The purpose of this study is to explore how luxury companies can use knowledge embedded in tradition to set up effective business models. Design/methodology/approach Given the limited coverage in previous literature regarding the manner in which tradition can be leveraged by companies to create and capture value, this paper adopts a qualitative approach, i.e. the exploratory analysis of a single case study, namely, that of the high-end Italian hotel Borgo Egnazia. Findings Within a focus on luxury firms, this paper conceptualizes the tradition-driven business model highlighting activities aimed at creating and capturing value by using knowledge embedded in tradition. Combining value creation and value capture with tacit and codified knowledge, the authors are able to highlight the components of a business model that uses tradition as its main distinctive resource. Originality/value To the best of the authors’ knowledge, this is the first study to explore how companies use tradition to create and capture value.

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Section: Discussionsupporting

confidence: 86%

Tradition-driven business models at luxury companies: revealing value-creation and value-capture activities

Franco

Presenza

Petruzzelli

et al. 2022

JKM

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“…This often leads to conflict between the two functions in innovation projects. Carvajal Pérez, Le Masson, Weil, Araud, and Chaperon (2020) notice that in luxury industries, these difficulties are exacerbated by tension between innovation and tradition, which can diminish originality and operational efficiency. In a qualitative study based on three design projects of a luxury champagne house, they discover a cognitive resource type—creative heritage—that can help marketing and design teams in luxury organizations to address destructive and creative tensions and overcome the trade‐off.…”

Section: Eleven Studies Dealing With Intersections Of Marketing and Dmentioning

confidence: 99%

Design and marketing: Intersections and challenges

Henseler

Guerreiro

2020

Creat Innov Manage

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This editorial article reports on interdisciplinary research being conducted at the interface between the scientific disciplines of marketing and design. It reviews the 11 academic papers from the special issue situated at this intersection, thereby showing the richness of research happening in this liminal area. At the same time, the paper observes how the disciplines' different scopes as well as their different modi operandi inhibit the collaboration between marketing and design research. Whereas marketing largely follows the paradigm of empirical realism asking how the current world works, design largely follows the pragmatist paradigm asking how a future world can be shaped. Finally, this paper contains a number of suggestions on how to foster cooperation between the two disciplines.

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“…Since second-hand luxury goods have the characteristics of both second-hand and luxury products, the price is lower than brand-new goods. This means that the affordability of second-hand luxury goods provides consumers with the opportunity to possess luxury goods [ 49 , 50 ], greatly improving consumers’ willingness to buy second-hand luxury goods. On the other hand, when they belong to specific collectibles, the price-performance ratio can be significantly improved [ 51 ].…”

Section: Literature Reviewmentioning

confidence: 99%

Purchase intention for second-hand luxury goods: An empirical study of Chinese consumers

Yan,

Li,

Zhang

et al. 2024

PLoS ONE

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Second-hand luxury goods feature both characteristics of luxury products like perceived value including social, emotional, and quality value, and second-hand goods like price-performance ratio. Enlarging the second-hand luxury market is of significance to protect the environment and save rare and valuable natural resources, and thus investigating the determinants of purchase intention is meaningful. From the perspective of the psychology of consumers, the influence of factors related to consumers (recycling awareness, subjective norms, attitudes, perceived behavioral control) and products (perceived value, price-performance ratio) on the intention to buy second-hand luxury goods is explored in this study through an online survey with Chinese consumers as a sample. The results are analyzed using the structural equation model (SEM) and show that consumers’ attitudes, perceived behavioral control, and recycling awareness will promote the intention of purchasing second-hand luxury goods, and the perceived value and price-performance ratio of second-hand luxury goods also have a positive impact on the purchase intention. However, there is no significant relationship between subjective norms and purchase intention. In addition, this study also explores the interrelationship between constructs and draws corresponding conclusions, providing references for the subsequent development of the second-hand luxury market.

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Creative heritage: Overcoming tensions between innovation and tradition in the luxury industry

Cited by 13 publications

References 65 publications

Tradition-driven business models at luxury companies: revealing value-creation and value-capture activities

Tradition-driven business models at luxury companies: revealing value-creation and value-capture activities

Design and marketing: Intersections and challenges

Purchase intention for second-hand luxury goods: An empirical study of Chinese consumers

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