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This paper aims to help managers understand digital disruption and implement strategies that will support the digital transformation of companies. Traditional companies need to learn from disruptive ventures and reimagine their business models based on digitalization.

The study is based on multiple case studies of both disruptive startups and established organizations navigating digital transformations.

The authors introduce three levels of digitalization to build a framework of six different value creation stages that result from digitalization. Companies need to create digital products, enhance their processes with digital technology and most important reimagine their business models.

Managers receive guidance on how to deal with digital disruption. They can learn from pathfinding companies that successfully leveraged digital technology to create and capture new value.

The original contribution of this paper is a simple and useful framework to understand and leverage digital disruption.

This paper aims to examine the key challenges experienced and lessons learned when organizations undergo large-scale agile transformations and seeks to answer the question of how incumbent firms achieve agility at scale.

Building on a case study of a multinational corporation seeking to scale up agility, the authors combined 36 semistructured interviews with secondary data from the organization to analyze its transformation since the early planning period.

The results show how incumbent firms develop and successfully integrate agility-enhancing capabilities to sense, seize and transform in times of digital transformation and rapid change. The findings highlight how agility can be established initially at the divisional level, namely with a key accelerator in the form of a center of competence, and later prepared to be scaled up across the organization. Moreover, the authors abstract and organize the findings according to the dynamic capabilities framework and offer propositions of how companies can achieve organizational agility by scaling up agility from a divisional to an organizational level.

Along with in-depth insights into agile transformations, this article provides practitioners with guidance for developing agility-enhancing capabilities within incumbent organizations and creating, scaling and managing agility across them.

Examining the case of a multinational corporation's exceptional, pioneering effort to scale agility, this article addresses the strategic importance of agility and explains how organizational agility can serve incumbent firms in industries characterized by uncertainty and intense competition.

Under certain conditions, a mass of people can be smarter than the best expert – even if the expert is part of the group. In this paper we show how leaders can improve decision making by tapping into the collective intelligence of their organization.

Based on James Surowiecki’s four conditions of collective intelligence (cognitive diversity, independence, utilization of decentralized knowledge, and effective aggregation of dispersed knowledge), we discuss how leaders can tap into the wisdom of the crowd of their organizations.

We show how leaders can increase cognitive diversity in decision making, access decentralized knowledge in their organizations, encourage individuals to contribute their knowledge without interference from peer pressure, conformity or influence from superiors, and how knowledge can effectively be aggregated to make wiser decisions.

While various tools exist to reap the collective intelligence of a group, we argue that leaders also must change their attitudes and leadership styles. Using evidence from various studies and several examples we show what leaders can do to make smarter decisions.

The purpose of this study is to replicate and extend the findings of Matzler et al.'s recent paper on the dimensionality of price satisfaction. Furthermore, a test is performed to ascertain whether the relationship between satisfaction with the individual price dimensions and overall satisfaction is symmetric or asymmetric, as the three‐factor theory of customer satisfaction suggests.

Based on a random sample of 406 bank customers, the impact of five price dimensions (price‐quality ratio, price fairness, price transparency, price reliability, and relative price) on overall satisfaction is tested using structural equation modeling with Partial Least Squares (PLS). The asymmetric relationship is tested using regression analysis with dummy variables.

The results confirm Matzler et al.'s findings and show that price satisfaction can be conceptualized as a multidimensional construct and that the five price dimensions have a strong and significant impact on overall satisfaction. Furthermore, it is shown that the relationship between satisfaction of individual price dimensions and overall price satisfaction can be asymmetric, indicating that the three‐factor theory of customer satisfaction is applicable also to price satisfaction.

The study replicates previous findings and supports the multi‐dimensional nature of price satisfaction and shows that the three‐factor theory of customer satisfaction applies also to price satisfaction.

The measurement of price satisfaction at the level of individual price dimensions and the assessment of asymmetric relationships provides managers with more precise data in order to take the right measures to increase satisfaction.

This paper confirms previous findings on the dimensionality of price satisfaction in a random sample of bank customers using structural equation modeling with PLS. Hence, it provides strong empirical support for Matzler et al.'s findings.

Destinations are strategic marketing units which consist of territorially delimited, consolidated areas of co‐operation. Options to improve a destination's competitive edge depend on the determinants of competitiveness. A destination's competitive position can be explained by factor conditions and conditions of demand, quality and structure of sectors involved, strategies as well as market and organizational structures. The competitive system depicted above forms the basis for the creation of “customer value” and therefore is a source of future competitive advantages. Customer value is the gap perceived by the customer between the perceived (multidimensional) benefit and the perceived (multidimensional) costs/prices of a destination compared to its competitors. The aim of the article is the explanation of “Customer Value Management” as a key strategy to affect a destination's competitive position by means of supply‐side measures as well as the communicated and achievable relative consumption/cost position.

The youth travel market is an important market segment in terms of size and growth rates. Youth travelers, however, differ in their travel motivations from other market segments. Therefore, in order to attract and satisfy youth travelers it is necessary to match their travel motivations with their perceptions of destinations. Based on an empirical study (N=2.128) among German Youth Travelers a methodology is presented which enables tourism managers to link travel motivations with perceptions of the destination. A two‐dimensioned matrix assesses the degree to which motivations and perceptions correlate. This analytical tool then forms the basis for the formulation of marketing strategies. The results of the empirical study presented in this paper show clear differences between travel motivations in summer and winter tourism and between perceptions of the Alps as a summer and winter destination.

The purpose of this paper is to explore the dimensionality of price satisfaction. It argues that price satisfaction is composed of several dimensions (price transparency, price‐quality ratio, relative price, price confidence, price reliability, and price fairness) and that companies should consider these dimensions when monitoring customer satisfaction.

Based on a theoretical discussion of the price dimensions, a questionnaire is developed that measures customer satisfaction with individual price dimensions. Using regression analysis the impact of price satisfaction dimensions on overall price satisfaction is measured, using a sample of 160 students.

The results show that price satisfaction can be conceptualized as a multidimensional construct and that five dimensions influence overall price satisfaction. The application of the questionnaire allows for measuring price satisfaction in firms.

The paper introduces price satisfaction as a multidimensional construct and the study empirically supports the hypotheses. The student sample, however, restricts generalizability and more studies are needed to test the validity and reliability of the questionnaire.

Based on the measurement of price satisfaction, managers are able to identify the drivers of price satisfaction, their satisfaction and relative importance in different market segments and, consequently they are able to take the right measures to increase customer satisfaction and loyalty.

So far price satisfaction has been treated as a one‐dimensional construct. This paper contains a theoretical argumentation for why price satisfaction should be treated as a multi‐dimensional construct consisting of several dimensions, i.e. price‐quality ratio, price fairness, price transparency, price reliability and relative price. These dimensions constitute the determinants of overall price satisfaction.

This paper aims to discuss the barriers to successful business model innovation and derive implications for management on how to overcome each barrier, as many attempts to innovate a business model have failed.

The authors draw on their experience they gained in numerous business model innovation projects and identify barriers that occur along a cycle of business model innovation, the authors use case examples to describe the barriers and derive managerial implications.

Barriers to successful business model innovation are related to barriers of awareness, search, system, logic and culture. Very often, these barriers are not recognized as such. Overcoming those barriers has to do with openness, with opening, with networking, with affirmation (and mastering) of complexity and thinking and acting in a whole.

With this paper, the authors contribute to a better understanding of why many business model innovations fail, they identify and describe barriers to business model innovation and develop some recommendations for managers on how to overcome the barriers.

In every market there are non-consumers – potential customers that withstand an innovation. A common reason is that products targeted to early adopters or the mass market are over-engineered. Established companies usually neglect the laggards in a market. This offers growth opportunities for new entrants. These market niches can be unlocked when products are simplified and adapted to the special needs of the laggards.

Using a short case study from an Austrian producer of cell-phones targeted to seniors, and some other examples, we show how innovative solutions can be developed by targeting to the special needs of laggards in a market.

Technologies usually evolve faster than market needs and established companies, in their efforts to grow and improve profitability, try to innovate faster than their competitors. This often leads to over-engineered products. In many markets there are consumers that withstand these innovative and over-engineered products. A vacuum for low-priced, simple, and easy-to-use solutions emerges. We describe a five-step approach for unlocking these market segments and developing solutions for laggards.

While most companies try to innovate faster than their competitors to defend their market leadership, laggard innovation targets non-consumers in the market. By simplifying over-engineered products and adapting them to the special needs of laggards, new market opportunities emerge. This paper shows how these market niches can be unlocked.

Customer satisfaction is seen to be one of the main determinants of loyalty. However, the relationship between customer satisfaction and loyalty does not seem to be linear, many researchers have reported doubts about the predictability of loyalty solely due to customer satisfaction ratings which ignore image as predictor of loyalty. This paper aims to address the issues.

The authors report a study of ski resorts where they first established a causal model of customer satisfaction and image predicting customer loyalty, and then map the scores in a four‐fields‐grid. Additionally the authors conducted a moderator analysis to assess the relative importance of image and satisfaction for loyalty intentions between two different groups (first‐time‐visitors, and regular guests).

The results show that those ski resorts with the highest satisfaction ratings and the highest image ratings have the highest loyalty scores. Among first‐time‐visitors overall satisfaction is more important than image, with increasing number of repeat visits the importance of overall satisfaction declines and that of image relatively augments.

Besides measuring customer satisfaction, managers must assess also image ratings in order to get a realistic view of the loyalty intentions of their customer base. The scores can than be mapped together with the ratings of other ski resorts, and serve as a benchmark study.

Second order analysis of image (comprising three different dimensions), the image‐satisfaction‐grid, moderating effect of experience to relative importance of satisfaction and image on loyalty.