Balancing Valued Tradition With Innovation
When your product is a loved conventional, how do you update
it to attract new customers?
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Sooner or later, maximum a hit organizations face the
assignment of updating a cherished vintage product. Make no changes, and also
you hazard becoming beside the point to new clients. Change too much, and you
can alienate your most unswerving clients.
So how do you leverage a historically robust emblem with
sensitivity to heterogeneous customer options? To discover this query, we
studied Italian opera organizations, which face this dilemma every season. Many
of the fine-cherished operas within the repertoire are extra than 150 years
antique, and the maximum committed operagoers have fairly conventional tastes.
However, if opera groups hew to their preferences, they will restriction their
cultural relevance and fail to broaden new audiences. @ Read More buffer1403 unbxd1403
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Our analysis of price tag income for 2,627 Italian opera
productions from 1989 to 2011, and interviews with 15 artistic administrators
of opera houses, yielded a few insights into successfully dealing with the
tension between tradition and innovation that may be applied with the aid of
all and sundry with a liked product they need to replace.
Requiem for a New Coke
The greater iconic the product, the extra hard it's far to
update, as we noticed with the saga of “new Coke,” Coca-Cola Co.’s ill-fated
attempt in 1985 to relaunch its flagship beverage with a sweeter taste.
Consumers in blind taste tests had recommended the exchange, however after
clients protested, the organization needed to retain promoting the classic
model of the product alongside the brand new one.
Opera groups, too, always courtroom disaster while they try
to replace liked works. Consider two latest productions — of Puccini’s Madame
Butterfly and Bizet’s Carmen — that have been reinterpreted in novel approaches
however had been obtained very differently. Loyal operagoers liked Madame
Butterfly relocated to present day East Asia. But they panned the brand new
Carmen, which ended with the title character killing Don José, her estranged
lover, in preference to being killed by way of him as in the unique opera.
To recognize the variations in how these and other up to
date productions had been received, we assembled a detailed database of the
staging strategies of thousands of performances and then determined whether or
not each production took a strong or radical technique to reinterpreting the
unique. Robust interpretations alter the peripheral components of an opera (its
visible staging) however hold its primary functions (tune and dramatic
contents). In evaluation, radical interpretations regulate the very essence of
a work through manipulating the principle (dramaturgical or musical) characteristics
of operas, as well as peripheral ones.
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About the Authors
Giulia Cancellieri is an assistant professor in the
Department of Management at Ca’ Foscari University of Venice. Simone Ferriani
is a professor within the Department of Management on the University of Bologna
and a professor of entrepreneurship at City, University of London. Gino Cattani
is a professor of control and agencies on the Stern School of Business at New
York University.
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