Hello everyone,
I´m in the next couple of months writing my dissertation. My thinking is along the lines of: Corporate heritage/history colliding with innovation and relevancy for the upcoming generation (millennials) in the luxury watch market. Especially the following paper has peeked my interest: "The corporate heritage brand paradox: Managing the tension between continuity and change in luxury brands"
However, there is also a lot of conflicting material and papers out there on the millennials, and not sure if I would end up studying two separate matters with this topic.
My question is if someone has any tips on how to attack this? If you have some expertise on the topics, and willing to share some thoughts/info/guidance it would be of great help. Ultimately, any help or feedback is very much appreciated!
Best,
Ario
I think that you have two questions, not one. One question is about luxury and the other is about millennials. Talking about millenials is a bit tricky because this label is something that the media uses, not an identity or ethnicity. I recommend my own research on the topic:
Article Feral segmentation: How cultural intermediaries perform mark...
About luxury, I would ask: Why would luxury be different for millenials (regardless if it is about watches or something else). One answer is that millenials do not care much about the signs of money from the previous generation. They care about experiences. What would luxury look like as an experience? To answer that question I also offer my collaboration with Jonas Holmqvist
Article Moments of luxury: Hedonic escapism as a luxury experience
Diaz Ruiz, C. A., & Kjellberg, H. (2020). Feral segmentation: How cultural intermediaries perform market segmentation in the wild. Marketing Theory.
Holmqvist, J., Ruiz, C. D., & Peñaloza, L. (2020). Moments of luxury: Hedonic escapism as a luxury experience. Journal of Business Research, 116, 503-513.
Carlos A. Diaz Ruiz , thanks for your answer.
I have also had the thought that millennials could be tricky, but it is a generation that has been brought up with more tech around them. Therefore it could be interesting to see if they will see the same value in a luxury mechanical watch as elders. However, the issue is that there is conflicting academic papers on whether or not this generation is much different to priors.
As I´m in a MSc in international management program, I have to chose an industry or specific business. Therefore I cannot just choose luxury in general, but rather a specific part of it. Congrats with your studies and effort, I will for sure look into it for my own.
Best,
Ario
Hi Remi Chukwudi Okeke
,I´m thinking that if my research question is like this:
How can Luxury watch brands embrace their corporate heritage, while innovating and staying relevant for the imminent generation of spenders?
Then I may have to first study the relation between being a firm (for instance Rolex) with lots of history and heritage. While at the same time being able to be innovative, and not lose that heritage/identity, but not be hindered by it either. Further, I´ll have to study the millennials or next generation of luxury consumers, if you like. Given the contradicting academia on millennials, and the fact that my research is qualitative, I´m not sure if I can give a certain answer on the millennial part.
Lastly, do you mean that I should focus on a specific country?
Many thanks for your wishes and good remarks
Best,
Ario
Estoy seguro que has partido desde un punto de vista de emprendedor hacia la generación Y, es una investigación, no aclaras el tipo y diseño de la investigación, supongo que tienes el acopio de la data directa o indirecta de las proyecciones de gustos de parte de ellos, además pienso que a esos relojes le has complementado innovación o proyección, como internet, con aplicaciones, biorritmos para salud pública, juegos, todo dirigido a su campo, .. Etc., Pero no te preocupes, si está bien planteado la investigación, los resultados pueden ser positivos como también negativos, así que adelante y sustenta vuestra tesis.
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