Senior Management Perceptions of Aspirational Groups: a Study of the UK General Insurance Market.

Robson, J. and van der Heijden, H., 2016. Senior Management Perceptions of Aspirational Groups: a Study of the UK General Insurance Market. Journal of Business Research, 69 (8), pp. 2731-2738.

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DOI: 10.1016/j.jbusres.2015.11.008

Abstract

This study examines the concept of aspirational groups: a reference group that a firm wishes to associate with. A desire to belong to an aspirational group may provide an important source of strategy formulation. Drawing from insights from consumer marketing on aspirational groups, the study explores the composition and structure of aspirational groups compared to strategic groups in a market setting. Using qualitative data from senior managers in the UK general insurance market, this study arrives at the following findings. First, aspirational groups do not necessarily share the same composition or structure as strategic groups. Second, selection of aspirational firms is driven by attribute association. Third, aspirations can be conflicting and reversed. Fourth, firms do not seek membership of the aspirational group but isolate key attributes they aspire to. These findings contribute to knowledge on strategy formation by highlighting the important role aspirational groups play in understanding competitive market movements.

Item Type:Article
ISSN:0148-2963
Uncontrolled Keywords:Strategic groups; Aspirational groups; Reference groups; Insurance
Subjects:UNSPECIFIED
Group:Faculty of Management
ID Code:23240
Deposited By: Unnamed user with email symplectic@symplectic
Deposited On:15 Mar 2016 09:33
Last Modified:02 Aug 2016 12:58

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