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Riccardo Rialti,Lamberto Zollo,Cristiano Ciappei,Yoko Sugitani 글로벌지식마케팅경영학회 2017 Global Fashion Management Conference Vol.2017 No.07
The aim of this exploratory research is to investigate whether luxury brands social media activities (Kim & Ko, 2012) – which are online activities that could potentially engage customers in digital environment (Sashi, 2012) – are capable of transmitting the sense of heritage of such brands to the customers. Moreover, the authors will observe whether the aforementioned activities are capable of transmitting the sense of exclusivity, which will be measured through the customers’ perceptions of the brand prestige (Hwang & Hyun, 2012), to the latter. In order to explore such a phenomenon, the authors have selected structural eqation modeling (SEM) as the main methodology of the research (Bagozzi & Yi, 1988). The theoretical foundations of the present research are related with three streams of marketing literature, namely (1) luxury brands social media marketing activities (Kim & Ko, 2010; Kim & Ko, 2012), (2) luxury brands heritage (Ciappei, Zollo, Boccardi, & Rialti, 2016; Hudson, 2011; Rialti, Zollo, Boccardi, & Marzi, 2016) and, finally, (3) luxury brands customer-based prestige (Napoli, Dickinson, Beverland, & Farrelly, 2014). In particular, building on the concept of social media marketing activities (Kim & Ko, 2010), we aimed at observing how the latter could influence customers’ perceptions of the brand by engaging them in online activities and conversations (Sashi, 2012; Zaglia, 2013). Specifically, we investigated if engagement in online activities or in online communities is related with a positive perception of luxury brands’ heritage and prestige. Hence, customers’ online engagement deriving from social media activities has been considered as an antecedent of customer perceived heritage and prestige (Phan, Thomas, & Heine, 2011; Hamzah, Alwi, & Othman, 2014; Riviezzo Garofano, & Napolitano, 2016). Luxury brands have been selected as the context of research since heritage and prestige have emerged as relevant strategic marketing levers for luxury brands’ brand strategist. As a proof of that, recently, luxury brands’ strategist and product managers are increasingly focusing brands’ strategies on the history of the brands in order to transmit customers a feeling of exclusivity and elitism (Hudson, 2010; Balmer, 2011). Thus, luxury brands heritage perceived by costumers emerged as a fundamental component of brand identity and, in addition, it may be considered as a form of competitive advantage increasing brand equity (Van Riel & Balmer, 1997). The main findings of the present research are related with the fact that social media marketing activities may engage customers online (Sashi, 2012). Moreover, it emerged how social media strategies are capable to engage customers and transmit them the sense of heritage and prestige. Hence, social media marketing strategies focused on developing a relationship with customers emerged as crucial in order to enhance customers’ perceptions of a brand heritage and prestige. Finally, the development of such a kind of social media marketing strategies is the principal implication for marketing managers. Due to the aforementioned results, this exploratory research contributes to online luxury brand management literature (Kim & Ko, 2010). In particular, due to our results it is possible to assess that social media activities, which are capable to engage customers online, are able to transmit the sense of heritage and of prestige. Future researches should explore better this phenomenon. In particular, on the one hand we suggest scholars to investigate through qualitative methodologies which kind of communications are capable to transmit sense of heritage and prestige. On the other hand, we suggest scholars to compare traditional form of communications with online form in order to understand which one is more capable to influence customers’ perceptions. The principal limitation of this research is related with its exploratory nature and with the traditional limitations of SEM methodology.
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Riccardo Rialti,Lamberto Zollo,Alessandro Caliandro,Cristiano Ciappei 글로벌지식마케팅경영학회 2017 Global Fashion Management Conference Vol.2017 No.07
Recently, marketing researchers have started to explore the impact of Social Media Brand Communities in digital marketing strategies. However, in spite of this interest, scant attention has been paid to the micro-mechanisms stimulating electronic word of mouth (E-WOM) within social media brand community. In this sense, this exploratory research aims to explore how consumers‟ engagement is related with positive E-WOM.
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HOW REPUTATIONAL LOSS EVENT IMPACTS ON MARKET VALUE OF FASHION FIRMS
Riccardo Rialti,Lamberto Zollo 글로벌지식마케팅경영학회 2015 Global Fashion Management Conference Vol.2015 No.06
Corporate reputation is one of the most important assets for a firm. Literature has widely investigated on how corporate reputation affects competitive advantages and marketing strategies, thus improving customer loyalty and brand’s image. Specifically, scholars have focused on reputational loss event’s linkage with both financial performance and cushion effect on stock price fall during economic crises. Corporate reputation can be divided into three interrelated elements: managerial, financial, and product reputation. Main critical drivers that characterize corporate reputation are, firstly, the quality of product, management, and employees; then, organizational attractiveness, social responsibility and financial performance. Reputation loss may have different nature, resulting both from critical events that deeply affect customers’ perception, and from organizational drivers that are not significantly considered by customers although important for corporate social responsibility. To our best knowledge, while much effort has been given to positive effects of reputation, scarce attention has been given to the typology of reputational loss event impacting on firm’s financial situation. Thanks to multiple case studies in global fashion industry, the authors assess market reactivity after corporate loss of reputation. The focus is on critical drivers that may damage a brand’s image, consequently causing a financial loss. In addition to this, the paper highlights the nature of main reputational risks that mostly impact on stakeholders’ perception of firm’s reputation in fashion industry.
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Riccardo Rialti,Lamberto Zollo,Cristiano Ciappei,Marica Laudano 글로벌지식마케팅경영학회 2016 Global Marketing Conference Vol.2016 No.7
This research aims at analyzing the role of digital technologies for communication in the personalization of cultural heritage visitors’ experience and the potential of such technologies in valorizing cultural heritage sites. In order to explore such a phenomenon through a pilot study, a conceptual framework has been developed in the attempt to better conceptualize the modern notion of digital cultural heritage. The theoretical foundations are experiential marketing (Schmitt, 1999), authenticity in visitors’ experience (Neuhofer et al., 2014), and engineering studies on successful application of technologies in cultural heritage sites (Sparacino, 2004). From the proposed conceptual framework some relevant insights have emerged. In particular, main findings deal with digital technologies being characterized by three particular kinds of artificial intelligence, namely (a) perceptive intelligence, (b) interactive intelligence, and (c) narrative intelligence. Specifically, perceptive intelligence allows a digital technology to seize visitors’ movements inside the museum (Barrera et al., 2013). Interactive intelligence is the kind of intelligence that permits a digital technology to elaborate visitors’ preferences (Sparacino, 2004). Narrative intelligence, finally, enables a digital technology to communicate with visitors (Karaman et al., 2014). Technologies with such features, then, may potentially stimulate positive feelings and emotions in visitors. Particularly, the storytelling of digital personalization of cultural heritage sites can effectively personalize visitors’ experience and uplifts the visit toward an authentic and unique experience (Frow and Payne, 2007; Sani, 2011). Since these technologies could help visitors in fully understanding their personal interests towards arts and cultural heritage, they can also act as instruments of cultural heritage sites promotion. Specifically, these technologies can suggest visitors’ successive cultural heritage sites and also stimulate visitors to suggests others to visit particular sites due to their positive experience (Sweeney et al., 2012).Finally, this study stresses the importance of digital technologies as instruments of experiential marketing by improving visitors’ experience. Moreover, digital technologies for cultural heritage may be interpreted as a key competitive advantage for cultural heritage sites. In particular, digital technologies may be interpreted as strategic levers in order to stimulate the diffusion of word-of-mouth marketing in cultural heritage.Finally, this study stresses the importance of digital technologies as instruments of experiential marketing by improving visitors’ experience. Moreover, digital technologies for cultural heritage may be interpreted as a key competitive advantage for cultural heritage sites. In particular, digital technologies may be interpreted as strategic levers in order to stimulate the diffusion of word-of-mouth marketing in cultural heritage.
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HOW TO FOSTER WINE ONLINE PURCHASING BEHAVIOR? EMPIRICAL EVIDENCES FROM ITALY
Monica Faraoni,Riccardo Rialti,Lamberto Zollo 글로벌지식마케팅경영학회 2018 Global Marketing Conference Vol.2018 No.07
Over the last decade, e-commerce platforms for goods and services have been widely explored by the marketing literature. Coherently, e-commerce is emerging as a relevant distribution channel also in the wine industry. This notwithstanding, wine e-commerce platforms show a slower growth rate whether compared to other goods and services categories – such as electronic and digital products. This is particularly true in Italy where the total volume of e-commerce sales in the food and drink sector are less than 1% of the total online sales. Therefore, it is important to investigate the underlying mechanisms explaining consumers’ positive and negative intentions to purchase wine online. This will in fact allow both theoretical and practical insights to wine industry marketers. Hence, this study proposes and empirically tests a conceptual model concerning the antecedents of consumers’ intention to purchase wine online. Specifically, the objective is to identify the differences that are specific to the context of the wine buying process. The 5 steps of the purchasing process – need perception, pre-purchase, purchase, post-purchase, intention of repatronage – are analyzed through eleven determinants such as risk aversion, convenience propensity, product information availability, degree of independence in purchasing, shopping enjoyment, channel layout, shipping conditions, loyalty intention, and free-riding behavior. Data were collected from a sample of Italian 570 online consumers who habitually purchase wine online. Confirmatory factor analysis (CFA) and structural equation modeling (SEM) were used for testing the hypothesized relationships. Results show that product information availability and convenience propensity significantly influence the digital channel selection and, consequently, loyalty and patronage intention. Building on these results, the present study suggests that wine industry should focus more on digital channels’ layout in order to better stimulate consumers’ loyalty and intention to provide positive feedbacks. Yet, it also emerged how this kind of channel is useful at most when targeting price sensitive consumers. Theoretical and practical implications are thus provided along with suggestions for future research in the marketing literature.
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HOW TO EFFECTIVELY COMMUNICATE CELEBRITY ENDORSEMENT? THE ROLE OF BRAND AUTHENTICITY AND CREDIBILITY
Silvia Ranfagni,Riccardo Rialti,Lamberto Zollo,Cristiano Ciappei 글로벌지식마케팅경영학회 2018 Global Marketing Conference Vol.2018 No.07
Celebrity endorsement has been traditionally considered as a strategic promotional tool by marketers. Actually, advertising scholars generally found a positive influence of celebrity endorsement on brand equity and, consequently, on consumer purchase intention. On the one hand, literature interprets celebrity source and endorsement factors as related to celebrity-brand fit, perceived celebrity motive, and celebrity expertise. On the other hand, consumer-based brand equity (CBBE) has been usually referred to brand loyalty, perceived quality, brand awareness, and brand associations. Despite such a growing interest, there is limited understanding of the underlying mechanisms linking celebrity endorsement to CBBE. Building on consumer psychology and brand signaling theories, this study develops a conceptual model which hypothesizes consumer-based brand authenticity (CBBA) and brand credibility as mediating variables of the aforementioned relationship. First, CBBA is interpreted as a multidimensional construct composed of a brand’s quality commitment, sincerity, and heritage. Second, credibility refers to a brand’s ability – e.g. expertise – and willingness – e.g. trustworthiness – to reliably keeping its promises to consumers. Moreover, this study hypothesizes that the influence of CBBA and brand credibility on CBBE vary according to consumers’ advertising evaluation. Hence, communication effectiveness is considered as a moderating variable of these relationships. The conceptual model is empirically tested using bootstrapped moderated mediation analysis on a sample of Millennial consumers. In fact, Millennials very well describe postmodern consumption and communication, which increasingly emphasize the need of “real” and authentic communication by credible endorsers and endorsed brands. By stressing the significant role of brand authenticity and credibility in the context of celebrity endorsement, this study provides both theoretical and practical implications to marketing communication literature.
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Yoko Sugitani,Riccardo Rialti 글로벌지식마케팅경영학회 2018 Global Marketing Conference Vol.2018 No.07
This study aims to show that cultural differences in self-concepts define the effect of brand evaluations on purchase intention. Self-brand connection (SBC), which refers to “the extent to which individuals have incorporated brands into their self-concepts (Escalas & Bettman, 2003)”, has been identified as an important factor that leads brand loyalty and repurchase (Batra et al., 2012; Carroll & Ahuvia, 2006; Loureiro et al., 2012; Park et al., 2010; Zarantonello et al., 2016). However, Sugitani (2018) demonstrated that SBC was a significant predictor of repurchase intention only among people with independent self-construal (Westerners), while brand evaluations based on public reputation (i.e. public-based evaluation; PBE) significantly predicted repurchase intention among people with interdependent self-construal (East Asians). This study raises questions about other factors relevant to the self that might moderate the effect of brand evaluations. Therefore, in addition to self-construal, this study focused on individual selfesteem as another moderating factor, and investigated its effects on the relations between brand evaluations and purchase intentions. Cross-national online surveys were conducted in the U.S., Italy (independent selfconstrual culture) and Japan (interdependent self-construal culture). The results of data analyses using multi-group structural equation modelling and ANOVAs provided the important discoveries. First, the finding of previous literature was reproduced that SBC was a significant predictor of repurchase intentions among people with independent selfconstrual. However, self-esteem significantly moderated the result. Specifically, SBC was a significant antecedent of repurchase intention when consumers with interdependent self-construal possess high self-esteem. Second, self-esteem also moderated the effect of PBE on repurchase intention among Italian consumers. Italians with low self-esteem were averse to choosing high PBE brands, while those with high self-esteem were not. The U.S. and Japanese consumers consistently avoided and preferred high PBE brands respectively; self-esteem did not affect the result. This study contributes to global brand management by showing that cultural differences in two important self-concepts, self-construal and self-esteem, have an interactive moderating effect on brand evaluations and purchases.
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