Università degli Studi di Modena e Reggio Emilia D
IPARTIMENTO DI STUDI LINGUISTICI E CULTURALIC ORSO DI L AUREA M AGISTRALE IN
L ANGUAGES FOR COMMUNICATION IN INTERNATIONAL ENTERPRISES AND ORGANIZATIONS (LACOM)
THE “MADE IN ITALY” BRAND: THE IMPORTANCE OF ITALY AS COUNTRY OF ORIGIN, ITS
CHALLENGES IN THE MARKET AND ITS CUSTOMER PERCEPTION
Prova finale di:
Daniel Alexandre Ribeiro Brito Relatore:
Barbara Luppi
Correlatore
Bernardo Balboni
Anno Accademico 2017/2018
Summary
The purpose of the thesis is to provide an analysis of the importance of Made in Italy, perceived as a real brand. In fact, the country of origin of a product can be considered itself as an intangible asset and it can influence the behaviour of customers during the purchase process.
Specifically, the Made in Italy industry is characterized by a very particular case of country of origin, because of the historical, cultural, geographical and industrial characteristics of Italy. For this reason, a presentation of the most important sectors of Made in Italy will be provided, as well as a critical analysis of the challenges that this particular type of brand has to face in nowadays market. Other than that, the importance of the origin of the product as driver in the purchase process will be debated, in particular by focusing on the perception of Italy as a country of origin.
The analysis will contain two different approaches: first, Made in Italy will be analysed through a theoretical dissertation, with a review of the existing literature and studies; secondly, an experimental approach will be used, with an investigation into two different perspectives of the brand Made in Italy: the one of Made in Italy enterprises, through a series of interviews with privileged witnesses of Italian companies, and the one of the customers, through a survey about the value perception of Made in Italy.
In chapter I, the concept of brand and its importance in the marketing mix of a product will be observed, explaining the reasons why a good branding strategy is central for the success of the company. For the purposes of this thesis, a section will be dedicated to the country of origin of the product, which is able to play a fundamental role in the branding aspect.
Made in Italy, along with its history, leading-edge sectors and peculiarities will be analysed in chapter II. In fact, the historical and cultural development of this country has been able to shape a very specific image and, by consequence, it has influenced the consideration of the market towards Made in Italy companies and goods. In addition to that, not only the Four A’s will have a central role in this chapter, but also the main challenges of Made in Italy in the market.
In chapter III, the first part of the experimental approach will be presented. In order to obtain a more clear vision from the enterprise point of view, the main characteristics and challenges of Made in Italy have been discussed with export managers, marketing specialists and executives of Italian companies: Levoni S.p.A, Tessilarte, Salvatore Ferragamo, and Simone Pezzatini, business advisor specialized in the wine industry.
In chapter IV, the perspective of the consumer will be analysed through a survey distributed to respondents of different gender, age, nationality, and educational level, with the aim of understanding if Italy as a country of origin is still playing a decisive role in the purchase process of the consumer.
Through this combination of theoretical and experimental approach, the readers will get a critical outline of the importance of Made in Italy as a country of origin. They will be able to understand its strengths and aspects that still need to be improved and also get an overview regarding the appreciation of the brand Italy in the consumer’s mind.
Summary (Italian)
L’obiettivo della presente tesi è quello di analizzare il Made in Italy concepito come un vero e proprio brand. Difatti, il paese di origine di un prodotto può essere considerato come un asset immateriale, in grado di influenzare il comportamento del consumatore durante il processo d’acquisto. Nello specifico, l’industria Made in Italy è caratterizzata da un paese d’origine molto particolare, a causa delle caratteristiche storiche, culturali, geografiche e industriali del paese Italia.
Verrà quindi presentata una panoramica dei più importanti settori del Made in Italy, oltre ad un’analisi critica delle sfide che questo particolare tipo di brand deve affrontare nel mercato di oggi.
Oltre a questo, verrà discussa l’importanza dell’origine del prodotto come fattore chiave nel processo d’acquisto, con particolare attenzione alla percezione del paese Italia da parte del consumatore.
L’analisi si avvarrà di due diversi tipi di approcci: in primo luogo, il Made in Italy verrà analizzato in modo teorico, grazie alla numerosa letteratura esistente in merito; in seguito, verrà utilizzato un approccio sperimentale, in modo da esaminare il tema del Made in Italy da due diversi punti di vista: quello delle imprese, attraverso una serie di interviste a testimoni privilegiati di aziende italiane, e quello del consumatore, grazie ad un questionario sulla percezione del valore del Made in Italy.
Nel capitolo I verrà osservato il concetto di brand e la sua importanza nel marketing mix del prodotto, spiegando le ragioni per le quali un’efficiente strategia di marca può risultare fondamentale per il successo dell’azienda. Ai fini di questa tesi, una sezione del capitolo verrà interamente dedicata all’importanza del paese di origine del prodotto.
Nel capitolo II verrà analizzato il Made in Italy attraverso la sua storia, le sue eccellenze e peculiarità. Difatti, lo sviluppo storico e culturale ha contribuito a delineare un’idea e un’immagine ben definita del paese Italia, e di conseguenza ha influenzato l’apprezzamento del mercato nei confronti delle aziende e dei prodotti Made in Italy.
Il capitolo III introduce la prima parte dell’approccio sperimentale. Col fine di ottenere un riscontro diretto da un punto di vista aziendale, le caratteristiche e le sfide più importanti del Made in Italy nel mercato sono state discusse direttamente con export manager, esperti di marketing e proprietari di aziende italiane: Levoni S.p.A, Tessilarte, Salvatore Ferragamo e Pezzatini & Partners.
Nel capitolo IV invece verrà analizzata la prospettiva del consumatore attraverso un questionario distribuito a persone di diverso genere, età, nazionalità e livello di istruzione, con l’obbiettivo di capire se l’Italia, intesa come paese d’origine di un prodotto, svolge ancora oggi un ruolo distintivo nel processo d’acquisto del consumatore.
Attraverso la combinazione tra approccio teorico e sperimentale, il lettore potrà ottenere una visione di insieme sull’importanza del Made in Italy, capire sia i suoi punti di forza sia gli aspetti che ancora devono essere migliorati, ed infine ottenere una panoramica sul grado di apprezzamento del brand “Italia” da parte dei consumatori.
Summary (German)
Das Ziel dieser Masterarbeit ist, die Wichtigkeit von Made in Italy als Marke zu analysieren.
Tatsächlich kann das Herkunftsland eines Produkts als einer immaterieller Vermögenswert betrachtet werden und kann das Kundenverhalten bei der Bestellung beeinflussen. Konkret ist die Made in Italy Industrie durch ein besonderes Herkunftsland gekennzeichnet, aufgrund der historischen, kulturellen, geografischen und industriellen Merkmale Italiens. Aus diesem Grund wird eine Präsentation der wichtigsten Sektoren von Made in Italy erbracht, sowie eine kritische Analyse der Herausforderungen, die diese besondere Markenbezeichnungen in dem Markt stellen muss.
Ansonsten wird die Wichtigkeit des Herkunftslands als Motor des Einkaufsprozess betrachtet.
Die Analyse enthält zwei Arten von Ansätze: als Erstes wird Made in Italy durch eine theoretische Dissertation mit der bestehenden Literatur erklärt. Dann wird ein experimenteller Ansatz verwendet, durch eine Untersuchung über zwei unterschiedlichen Perspektiven: die Unternehmen, durch eine Reihe von Interviews mit privilegierten Zeugen von Made in Italy Firmen, und Verbrauchern, durch eine Umfrage über den Wahrnehmungswert von Made in Italy.
Im Kapitel I wird das Konzept des Brands und seine Wichtigkeit in dem Marketingmix analysiert, und werden die Gründen, warum eine effiziente Markenstrategie nötig ist, analysiert.
Zum Zwecke dieser Masterarbeit wird ein Abschnitt für das Herkunftsland des Produkts verwendet.
Made in Italy und seine Geschichte, Sektoren und Merkmale werden im Kapitel II analysiert.
Tatsächlich hat die historische und kulturelle Entwicklung dieses Landes ein sehr spezifisches Image geprägt und damit die Marktbeobachtung gegenüber den in Italien hergestellten Unternehmen und Waren beeinflusst. Darüber hinaus wird nicht nur die Four A eine zentrale Rolle in diesem Kapitel spielen, sondern auch die Hauptherausforderungen von Made in Italy auf dem Markt.
Im Kapitel III wird der erste Teil des experimentellen Ansatzes vorgestellt. Um aus Sicht der Unternehmen eine klarere Vision zu erhalten, wurden die Hauptmerkmale und Herausforderungen von Made in Italy mit Exportmanagern, Marketingfachleuten und Führungskräften italienischer Unternehmen wie Levoni S.p.A, Tessilarte, Salvatore Ferragamo und mit Simone Pezzatini, Unternehmensberater spezialisiert auf die Weinindustrie, erörtert.
Im Kapitel IV wird die Perspektive des Verbrauchers anhand einer Umfrage analysiert, die an die Befragten unterschiedlichen Geschlechts, Alters, Nationalitäten und Bildungsniveaus verteilt
wird, um zu verstehen, ob das Herkunftsland Italien noch immer eine entscheidende Rolle im Kaufprozess des Verbrauchers spielt.
Durch diese Kombination aus theoretischem und experimentellem Ansatz erhalten die Leser einen kritischen Überblick über die Bedeutung von Made in Italy als Herkunftsland. Sie können seine Stärken und Aspekte, die noch verbessert werden müssen, verstehen und einen Überblick über die Wertschätzung der Marke Italien in den Augen der Verbraucher erhalten.
Summary (French)
L’objectif de cette thèse est de fournir une analyse de l'importance du Made in Italy, perçu comme une véritable marque. En fait, le pays d'origine d'un produit peut être considéré comme une immobilisation incorporelle, en plus d'être capable d’influencer le comportement des clients pendant le processus d'achat. Plus précisément, l'industrie du Made in Italy se caractérise par un cas très particulier de pays d'origine, en raison des caractéristiques historiques, culturelles, géographiques et industrielles de l'Italie. Pour cette raison, une présentation des secteurs les plus importants du Made in Italy sera fournie, ainsi qu'une analyse critique des défis auxquels ce type particulier de marque doit faire face sur le marché actuel. Par ailleurs, l'importance de l'origine du produit en tant que moteur du processus d'achat sera débattue, notamment en mettant l'accent sur la perception de l'Italie en tant que pays d'origine.
L'analyse contiendra deux approches différentes: premièrement, le Made in Italy sera analysé à travers une approche théorique, avec une revue de la littérature et des études existantes;
deuxièmement, une approche expérimentale sera utilisée, avec une enquête sur deux perspectives différentes de la marque Made in Italy: celle des entreprises Made in Italy, à travers une série d'entretiens avec des témoins privilégiés des entreprises italiennes, et celle des consommateurs, à travers une enquête sur la perception des valeurs du Made in Italy.
Dans le chapitre I, le concept de marque et son importance dans le marketing mix d'un produit seront observés, expliquant les raisons pour lesquelles une bonne stratégie de marque est centrale pour le succès de l'entreprise. Aux fins de cette thèse, une section sera consacrée au pays d'origine du produit, qui est en mesure de jouer un rôle fondamental dans les stratégies de marquage.
Made in Italy, ainsi que son histoire, ses secteurs de pointe et ses particularités seront analysés au chapitre II. En effet, le développement historique et culturel de ce pays a su façonner une image très spécifique et, par conséquent, il a influencé la considération du marché vers les entreprises et les produits Made in Italy. En plus de cela, non seulement les “Quatre A” auront un rôle central dans ce chapitre, mais aussi les principaux défis du Made in Italy sur le marché.
Au chapitre III, la première partie de l'approche expérimentale sera présentée. Afin d'obtenir une vision plus claire du point de vue de l'entreprise, les principales caractéristiques et les défis du Made in Italy ont été discutés avec des responsables export, spécialistes du marketing et patrons
des entreprises italiennes: Levoni S.p.A, Tessilarte, Salvatore Ferragamo, et Simone Pezzatini, conseiller commercial spécialisé dans l'industrie du vin.
Au chapitre IV, la perspective du consommateur sera analysée au moyen d'une enquête distribuée aux personnes de sexe, âge, nationalité et niveau d'éducation différents, dans le but de comprendre si l'Italie, en tant que pays d'origine, joue toujours un rôle décisif dans le processus d'achat du consommateur.
Grâce à cette combinaison entre approche théorique et expérimentale, le lecteur aura un aperçu critique de l'importance du Made in Italy en tant que pays d'origine. Il sera en mesure de comprendre ses forces et les aspects qui doivent encore être améliorés, et d'obtenir une vue d'ensemble de l'appréciation de la marque Italie du point de vue du consommateur.
Index
INTRODUCTION ... 1
1. BRANDING: DEFINITION, DIFFERENT ASPECTS, AND THE IMPORTANCE OF THE COUNTRY OF ORIGIN ... 4
1.1 Definition of brand ... 4
1.2 The different aspects of Brand Equity and the Aaker Measurement Model ... 8
1.3 Italy as a brand: the importance of the Country of Origin ... 11
2. THE BRAND “MADE IN ITALY” ... 18
2.1 Story of Made in Italy ... 18
2.2 Italy as a successful Country of Origin ... 21
2.3 The structure of the Made in Italy: its products and organization ... 24
2.3.1 The products: the Four A of the Italian industry ... 24
2.3.1.1 Abbigliamento – Fashion ... 25
2.3.1.2 Alimentazione – Food ... 26
2.3.1.3 Arredamento – Furniture ... 26
2.3.1.4 Automazione – Automation ... 27
2.3.2 The organization: an overview of the companies ... 27
2.3.2.1 Large enterprises ... 28
2.3.2.2 Medium enterprises ... 29
2.3.2.3 Small enterprises ... 29
2.4 To communicate Made in Italy ... 30
2.5 The issues and challenges of Made in Italy in the XXI century ... 34
2.5.1 The new era of globalization ... 34
2.5.2 The rise of China: between dumping and counterfeiting ... 35
2.5.2.1 Dumping ... 36
2.5.2.2 Illegal counterfeiting ... 37
2.5.3 “Italianity” at risk: the delocalization and the acquisition by foreign groups ... 39
2.5.4 The communication issue, between enterprises and politics ... 43
2.5.5 Other issues: the rise of energy prices, the euro ... 45
3. INTERVIEWS ... 48
3.1 Introduction to the interviews ... 48
3.2 Introduction to the companies ... 49
3.2.1 Levoni S.p.A. ... 49
3.2.2 Tessilarte ... 50
3.2.3 Salvatore Ferragamo S.p.A. ... 51
3.2.4 Simone Pezzatini, business advisor for the wine sector ... 52
3.3 Analysis of the interviews ... 53
3.3.1 The shared values of Made in Italy companies ... 53
3.3.1.1 Quality ... 53
3.3.1.2 The strong link to the territory ... 55
3.3.1.3 The importance of innovation ... 56
3.3.2 The centralization of the production process ... 58
3.3.3 The positive consumer perception of Made in Italy against a questionable purchase behaviour ... 59
3.3.4 The communication issue ... 62
3.3.5 The problem of counterfeiting ... 67
3.3.6 The lack of protection of Made in Italy by the institutions ... 69
3.4 Interviews in English version ... 72
3.4.1 Interview with Alessandro Fiumara, export manager of Levoni S.p.A ... 72
3.4.2 Interview with Paola Martinetti Graziano, owner and stylist of Tessilarte ... 76
3.4.3 Interview with Gregorio Gabellieri, head of marketing &
promotion of the Museum Salvatore Ferragamo ... 79
3.4.4 Interview with Simone Pezzatini, wine business consultant and owner of Pezzatini & Partners ... 85
4. SURVEY ... 90
4.1 Introduction to the survey ... 90
4.2 Analysis of the survey ... 91
4.2.1 The Country of Origin as driver during the purchase process ... 91
4.2.2 The qualitative perception of the brand “Made in Italy” ... 98
4.2.2.1 Made in Italy as a high-quality indicator ... 98
4.2.2.2 The willingness to pay a higher price for a Made in Italy product ... 102
4.2.3 The real knowledge of Made in Italy ... 104
4.2.3.1 The controversial label “Made in Italy” ... 104
4.2.3.2 The perception word cloud of Made in Italy ... 109
4.2.3.3 The knowledge of Made in Italy excellence sectors . 111
5. CONCLUSION ... 115
BIBLIOGRAPHY ... 117
APPENDIX ... 125
1
INTRODUCTION
Made in Italy is considered to be one of the most successful and widely known brands throughout the world. In fact, the Country of Origin of a product can represent an intangible asset for enterprises, which can not only benefit from the image of their own brands, but also take advantage of the positive perception of the country they come from. There are even some cases where it is not the specific name of the brand that represents the distinctive factor. Sometimes the Country of Origin appears to have a higher influence on the purchase process than the brand itself.
This particular type of brand needs a special attention, because of its great value and the possibility of it being exploited by an entire country without any cost. Indeed, the Country of Origin can have a great influence on the behaviour of consumers during the purchase process, since a positive (as well as a negative) image of the country of manufacture can lead consumers to perceiving a product differently from another one, based on its origin.
In this sense, Italy represents an important example of Country of Origin and has a very unique brand image in consumers’ minds. Because of the historical, industrial and cultural heritage and development, Italy is characterized by many distinctive features that allow the country to be highly perceived by customers, especially foreign ones. The “Dolce Vita” and the “Vivere italiano”
are appreciated and admired throughout the world and they are result of all the unique art, good food and beauties of Italy. All these contribute to a very positive image of Made in Italy that is reflected on a higher perception – quality-wise – of its products. This specific image of Made in Italy is perfectly combined with the values and characteristics that the traditional Italian enterprises share. The values of a family business, the importance of the territory, the quality of the raw material and production process, and above all the typical Italian taste, are perfectly combined with the image of Italy.
Nevertheless, the brand “Made in Italy” has to face many difficult challenges in nowadays market, which are especially caused by the globalization that characterized the new millennium.
Such globalization has had a significant number of consequences for the Made in Italy industry. The growth of competitors from developing countries, such as China, has caused the rise of phenomena of social dumping and delocalization, but also the development of the counterfeit industry. Besides
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that, other internal problems affect Made in Italy and prevent a complete exploitation of its potential, such as the lack of a common communication strategy and the need for specific protection and support policies, at both national and European level.
The objective of this thesis, therefore, is to analyse the importance and the influence of Italy as a brand, but also to focus on the challenges of Made in Italy, that are often underestimated by both consumers and also within particular enterprises. Sometimes, Italian companies and institutions take the positive image of Made in Italy for granted, believing that the entire world has the same positive perception and knowledge of such brand. Therefore, some enterprises even believe that there is no need for important investments on marketing and communication of Made in Italy abroad, while the government does not always recognize Made in Italy as a priority in their programs. In the same way, the European Union should also focus more on the protection not only of Made in Italy, but of all “Made In” brands. Italy is one of the countries that most suffer from these lacks, particularly its small and medium enterprises, which are the heart of the Italian industry. This thesis aims to raise awareness among the readers about the weaknesses of Made in Italy that limit the incredible potential that this brand can provide for the Italian economy. Solutions to these problems should be provided, in order to prevent not only huge economic losses, but especially serious image damage.
The analysis contains two different approaches: firstly, Made in Italy will be analysed through a theoretical dissertation, in order to introduce the main topic of the thesis, with a review of the existing literature and studies. Secondly, an experimental approach from two different perspectives will complete the analysis: the one of Made in Italy enterprises, through a series of interviews, and the one of consumers, through a survey about the importance of the Country of Origin and the value perception of Made in Italy.
In chapter I, the concept of brand will be introduced, underlining its importance in the marketing mix of a product and analysing it in all of its characteristics. Through many different definitions and the study of its aspects, from Brand Image to Brand Equity, the reasons why the brand represents a fundamental aspect of the success of the product will be presented. In particular, for the purposes of the thesis, Italy will be analysed as a brand able to play a fundamental role in the marketing of a product.
Chapter II will be focused on Made in Italy. In particular, the focus will be put on the history and the development of the country that has influenced its image, and by consequence its
3
perception from an industrial and economic point of view. Then, the most important sectors of the Made in Italy industry, namely the Four A’s of Made in Italy, will be introduced, as well as the main challenges that Made in Italy has to face in nowadays market.
Chapter III and IV are characterized by an experimental approach, by analysing Made in Italy from two different perspectives: the one of enterprises, and the one of customers.
In chapter III, four privileged witnesses, among whom export managers, marketing specialists and executives, have been interviewed, in order to allow a better understanding of the values, the perquisites, and the problematics that Made in Italy is facing today as a brand. The contacted enterprises and personalities are specialized in four different sectors: Alessandro Fiumara, export manager of Levoni S.p.A, an historic food enterprise specialized in cold cuts located in Mantova; Paola Camerino Martinetti, owner of Tessilarte, an historic fabric company located in Florence; Gregorio Gabellieri, responsible for the marketing and promotion of the Museum Salvatore Ferragamo; and Simone Pezzatini, former general director of the Matura1 consultancy group and owner of Pezzatini & Partners, a consultancy agency for wine businesses.
In chapter IV, the experimental approach is based on a survey, distributed among respondents of different gender, age, nationality and level of education. The questionnaire is focused on understanding if consumers are influenced by the Country of Origin of products, if Made in Italy still remains attractive to the consumer’s eye, and how Made in Italy is actually perceived.
1 Matura is a group of societies specialized in services for winegrowing enterprises, in particular dealing with business management and marketing of such enterprises. More information can be found at www.matura.net
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Chapter I
BRANDING: DEFINITION, DIFFERENT ASPECTS, AND THE IMPORTANCE OF THE COUNTRY OF
ORIGIN
1.1 Definition of Brand
The understanding and the importance of branding as a strategic process has been an object of studies in both academic literature and management practice for decades. The definition of such a complex and interesting subject of marketing has undergone through numerous analyses, criticism and redefinitions according to many different aspects and approaches. Nowadays market enterprises have recognized the increasing importance of brand and branding in the marketing mix of a product. In particular, the name of the brand is to be considered as a veritable asset and generator of value for enterprises.2 In fact, an enterprise can be evaluated on the basis of the value of tangible assets, as it was in the past, but there is more than that. Nowadays a large share of value for enterprises lies out of the business, in intangible assets that influence the opinion of potential buyers and customers.3 When we evaluate an enterprise, we have to take into consideration the value of its brand, since brands generate a large amount of a company’s shareholder value.
According to a study of PwC and Sattler (Figure 1),4 the average contribution of the brand for the total value of a company has increased from 56% in 1999 to 67% in 2005, making clear that the importance of brand is progressively increasing.
2 PWC Studie (2006), p. 8
3 Kapferer, J-N. (1992), p.1
4 PWC Studie (2006), p.8
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Figure 1: Contribution of the brand value to the total value of a company from 1999 to 2005
But what are the reasons that make branding fundamental from the point of view of the enterprise? Brands convey a positioning of the products, allow a clear-cut differentiation from the competitors, create a new market segment, and build a distinctive and desirable image.5 For this reason, the perceived image of the brand in the minds of consumers is crucial in order for an enterprise to be competitive in the market against companies that offer a product with similar value.
This image is created not only by the perceived benefits of the product portfolio of the enterprise, but also by the reputation of that enterprise.6
According to Philip Kotler and William Scott (2002),7 a brand is intended to be a name, a term, a sign, a symbol, a drawing, or a combination of those elements, with which it is possible to identify and differentiate products or services of one or more sellers from the ones of the competitors. This definition is in line with the definition of trademark according to the World Intellectual Property Organization, where “a trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. Trademarks are protected by intellectual property rights”.8
5 Davis, S.M. (2002)
6 Došen, D.O. (2014), p. 1
7 Kotler P., Scott W. G (2002)
8 WIPO (n.d.) 50%
52%
54%
56%
58%
60%
62%
64%
66%
68%
In what percentage does the brand value contribute to the total value of the company?
1999 2005
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Nevertheless, these two definitions are limited to the legal value and meaning of the brand.
As a consequence, many academics and experts have tried to provide alternative definitions that could better capture further aspects of branding, especially considering the brand perception by consumers. For example, Aaker9 describes the brand as generator of value, stating that Brand Equity is “a set of assets (or liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service”.10 However, it is important to point out that the brand can have also a negative effect (“or liabilities”) on the enterprise. In fact, in case of a counterproductive brand management, the brand can become negatively perceived by consumers, and by consequence receive a negative feedback from them. Indeed, according to Colin Bates,11 the brand is also to be considered as a “collection of perceptions in the mind of the consumer and all other stakeholders”.12 Another interesting definition is the one of Walter Landor, founder of Landor Associates 5,13 which underlines the importance of a brand as a “promise”,14 a commitment to quality and satisfaction towards the market and the consumers. In other words, the brand is fundamental from a strategic point of view, since it conveys the idea of what consumers can expect from a certain product.
In this sense, it becomes clear why the brand should be considered as an important corporate asset that is able to considerably change the perception of the consumer towards a specific product. In this regard, it is interesting to observe the results of a blind and open test between Pepsi and Coke conducted by Franz-Rudolf Esch (2005), 15 where there is evidence that consumer preferences change significantly depending on if they know the brand of the product they are using, or not.
9 American economist and expert of marketing, in particular brand management. He is professor of marketing strategy at the Haas School of Business of the Berkeley University.
10 Aaker, D. (1995)
11 Colin Bates is an independent brand consultant and author. He is expert of marketing, and head of the marketing department for enterprises like Customer Champions. He can be reached through the website www.buildingbrands.com
12 Bates, C., www.buildingbrands.com
13 Enterprise specialized in brand creation and consulting.
14 Landor, W., landor.com
15 Esch, F-R. et al. (2005)
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Figure 2: Results of blind and open test between Pepsi and Coke
Summing up, in order to provide a wider and more complete definition of brand a brand can be defined according to four different points of view and approaches:16
• Attribute-based approach;
• Legal brand definition approach;
• Effect-based approach;
• Perceived vs Real product performance;
The attribute-based approach represents the classic brand definition. The brand is characterized by a physical labelling of products that allows the consumer to recognize and identify the firm that produces certain goods. In this sense, the function of the brand is to indicate information about the quality of the goods.17 Nevertheless, this approach is no longer in use since not only finished goods have a brand status, but also services.18
From a legal point of view, brands are protected through trademarks which legally differentiate goods and services of a company from those of competitors, and protect any unauthorized use of the brand. According to the WIPO, all trademarks need to be graphically
16 Klein-Bölting, U., Maskus, M. (2003), p. 4
17 Ibid
18 Esch, F-R. et al. (2005), p. 8 0%
10%
20%
30%
40%
50%
60%
70%
Blind test Test with brand name
Blind and open test between Pepsi and Coke
Prefer Pepsi Prefer Coke No preference (equal good)
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represented through words, numbers, letters, audible signals, three-dimensional designs, including good design, packaging, as well as colours and combinations of colours.19 Through this type of protection, firms can safely invest on R&D. The WIPO represents at a worldwide level20 the competent body for the protection and administration of intellectual property and the global forum for policy information and cooperation.21
The effect-based approach adds the aspect of the impact of brands on consumers. As mentioned above, the perception of consumers changes depending on brands, and takes over the functions of identification and differentiation of the brand.22 Brands are not seen as pure marking, but, on the contrary, they are like a “visiting card” for companies.23
At last, the perceived vs real product performance approach underlines how not only the attributes of a product influence consumers, but also experiences and feelings linked to brands play a distinctive role.24 The quality of products is perceived according to the personal experiences of customers, and by associating certain qualities to the brand, they generate a positive recognition associated to the product.25 Nevertheless, the brand can also represent an indicator of quality and reduce the risk of buying products with low quality, helping the consumer in orientating during the purchase process.26
1.2 The different aspects of Brand Equity and the Aaker Measurement Model
After reviewing the meaning and the strategic and competitive importance of the brand, it is important to go deeper in our analysis, identifying further key aspects of brands. As discussed in the previous section, the brand consists in a veritable intangible asset of the enterprise, generator of value. Because of the increasing importance of brands in the last decades, we talk about brand value. Actually, according to Interbrand, 27 a brand consultancy specialized in the financial analyse
19 WIPO (n.d.)
20 WIPO is recognized by 191 countries
21 WIPO (n.d.a.)
22 Meffert, H. et al. (2002), p. 6
23 Klein-Bölting, U., Maskus, M. (2003), p. 3
24 Esch, F-R. et al. (2005), p. 11
25 Klein-Bölting, U., Maskus, M. (2003), pp. 5-6
26 Klein-Bölting, U., Maskus, M. (2003), pp. 11
27 Interbrands (2017), p. 50
9
of brands, total brand value has grown by 54%, passing from 1,214$b to 1,872$b, in the period between 2008 and 2017.
Figure 3: Best Global Brands: 10 years of growth
Talking about branding, one of the most used terms in marketing is Brand Equity. With the concept of Brand Equity, we indicate the differential effect that knowing the brand name has on customer response to the product and its marketing. In other words, Brand Equity measures the brand ability to conquer and capture the loyalty and the preference of consumers. A strong and powerful brand makes consumers react more favourably to it than an unbranded version of the same product, and generates a positive value of Brand Equity. On the other side, a product whose brand is not capable of increasing its appeal in the eye of the consumers, has a negative value of Brand Equity.28 A brand with a high level of Brand Equity represents, therefore, a valuable asset, with a well-defined brand identity and image that has many different competitive advantages.
Indeed, a powerful brand enjoys a high level of loyalty from the consumers, eases the launch of new products or brand extensions, and offers to the company some defence towards low price strategies of competitors.29 Some brands, such as Coca Cola or Nike, became giants in the market through the
28 Kotler, P., Armstrong, G. (2011), p. 243
29 Kotler, P., Armstrong, G. (2011), p. 243-244
1,214 $b 1,156 $b
1,203 $b 1,258 $b
1,385 $b 1,501 $b
1,6 $b 1,715 $b
1,796 $b 1,872 $b
0 0,2 0,4 0,6 0,8 1 1,2 1,4 1,6 1,8 2
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Best Global Brands: 10 years of growth
Total brand value all over the world (in $billion)
10
decades, and they were able to maintain their power for years, or even generations. Other brands, such as Apple, Harley-Davidson or Spotify based their strategy on a deep connection with their customer base.30 In this sense, the ability of brands to build profitable customer relationships is to be considered as the fundamental asset generated by the brand. The brand should aim at building a strong customer equity.31
Many studies focus on alternative aspects of Brand Equity, and many experts in marketing and branding have provided their own models to better describe Brand Equity in all its aspects.
Among these, I will discuss the Aaker Brand Equity Measurement Model (1991) that is, in my opinion, one of the most appropriate ones, since it refers to components of interest to our main subject.
According to Aaker (1991) Brand Equity is understood as a value and a responsibility linked to the brand, characterized by five main aspects:
Figure 4: Aaker brand equity measurement model32
The first factor that is linked to Brand Equity is Name Awareness. The name of the brand (even if brands can be represented in other ways) is fundamental, since it summarizes and contains all the other aspects of Brand Equity. In particular, the name of the brand is supposed to help the consumer in the buying process. Customers and brands tend to establish a relationship between
30 Ibid
31 Ibid
32 Aaker, D. (1991)
11
each other, and, by consequence, consumers will develop a connection with the qualitative name of the brand that conveys an idea of certain quality and benefits.
The second factor of Brand Equity is the so-called Perceived Quality. A perceived high quality of a brand, and, by consequence, of a product, can become a reason for continuing to choose the same brand for a future purchase. On the supply side, this factor may induce the producer to raise the price of the product, because of the market power arising from product differentiation generated by the brand.
Brand Associations are typically created by consumers, but presented generally through advertisement, and they can enrich the brand with new perceived qualities that can raise the Brand Equity of a specific brand. More than that, they can create additional benefits, such as a really positive influence or an idea of safety associated with the brand.
Brand Loyalty is to be considered as one of the main objectives of a brand and one of the most important factors linked to Brand Equity. The loyalty is expressed by a repeated brand choice of consumers, and consequently by a permanent income ensured to the company.
At last, we have other brand assets like Material assets, such as all legal and institutional benefits that can be ensured by protecting the brand through patents, for example.33
All these aspects are fundamental in order to create a brand capable of differentiating itself from the competitors and convince the consumers that their products are able to satisfy their primary and secondary needs. Creating a strong and solid brand and increasing the brand value can cause the brand to become a key strategic factor for a product and mark the path for business success. Indeed, the objective of the company is to secure customer loyalty to their products and lead the consumer to choose automatically such products in order to satisfy their needs, without the need of additional searches and/or comparisons with the products supplied by rival companies.
1.3 Italy as a brand: the importance of the Country of Origin
When we think about brands, we have always in mind the most important and valuable brands in the world. However, in this thesis, the topic of brand value will be presented from a different perspective, without limiting the concept of brand to the classic definitions. There are
33 Bivainiene L., Sliburyte L. (2008), p. 25
12
some cases where, in the mind of consumers, it is not the specific name of a brand which resumes and contains all the characteristics and aspects of the identity of the brand. In some cases, the veritable distinctive factor that drives consumer choice is the Country of Origin (COO) of the product.
In fact, in addition to the image of the brand and among its main characteristics, consumers do not have to forget the product origin.
The first marketing researches about brands linked to their country of origin emerged more than 40 years ago suggesting that a country’s image could cause positive product-related or service- related associations.34 In particular the first definition of country image derives from Nagashima (1970),35 that describes it as a picture, a representation, or a stereotype that companies and consumers attach to products of a specific country. However, what are the aspects that characterize and make a country particularly desirable and special in the eye of the consumers? The national history of a nation and its cultural heritage emerge as the fundamental factors and resources for a state to be perceived in a positive way. Its art, food, religion, sports contribute to a positive image of the country, therefore enabling an undeniable differentiation of one state against its competitors.36
The country image can become particularly valuable, especially for some categories of goods, and can be considered as a veritable asset that increases the appeal of the brand. Nevertheless, the image of the country is deeply rooted and takes time to develop.
In this sense, the country of provenance of a product can give the consumer a clue about the qualities or value of a certain product in the same way that brands do. Many different experts have sustained different theories about the reaction of customers towards a specific country of origin.
However, many of them claim that a favorable and positive perception about the country results directly in a positive image about the product.37 At the same time a negative perception leads consumers to devaluate their products and, for example, when talking about developing countries, by associating them with poor quality or durability.38 Of course there are situations, in particular for certain types of goods, of incongruence between the reputation of the country and the quality of
34 Vianelli, D., Pegan, G. (2014), p. 75
35 Nagashima (1970), pp. 68-74
36 Duchêne A., Heller M. (2012)
37 Paswan, A.K.,Sharma, D. (2004) pp. 144-155
38 Papadopoulos N., Heslop L.A. (1993), pp. 39-76
13
its products. Iran, for example, has a negative image as a country , on the other side it produces some of the most valuable rugs in the world.39
During the purchase process, the costumer needs to elaborate and process a wide range of information about the products that influences his decisions. However, because of the complexity and variety of products, in some situations, one of the simplest criteria turns out to be the country of provenance of the good, which helps in synthesizing quality indicators in the mind of the consumer.40 This is particularly detectable in situations of a highly-perceived fit between the product category and the country image. Therefore, the value perceived by the consumer increases due to the symbolic connotations and values of the territory, where the good or service is produced.41 The country of origin is therefore to be considered one of the most competitive factors for the sale of products, especially beyond the borders of a country. In the last years, the effect of the COO has been stimulated by the widespread process of integration of the goods and services markets, the standardization of production processes and the corporate relocation.42 With this in mind, many companies decided to put their efforts in marketing campaigns aimed to use the country of origin as a factor of competitive advantage of the product, and emphasize and strengthen the connection between the image of the country of manufacture and the image of the good/service that reflects its origin.43
It is important to understand what we really mean with country of origin. In fact, sometimes the idea of COO may be confusing. Especially because of globalization and the development of marketing strategies, the idea of country of origin may lead to three alternative definitions:44
• Origin country, the country that the consumer associates with a certain product or brand.
• Designed-in country, the country where the product has been idealized and designed.
• Made in country (or Country of manufacture), the country where the product is produced or assembled, indicated on the label with the Made in indication.
For the purposes of the thesis, I will mainly focus on this third definition. Many studies have been conducted in order to completely understand the value and the importance of the effect of the Country of Manufacture as a veritable asset. In particular the COO is seen as a veritable extrinsic
39 Laroche, M. et al. (2005), pp. 96-115
40 Oberecker, E.M., Diamatopoulos, A. (2011), pp. 45-72
41 Roth, M.S., Romeo, J.B. (1992), pp. 477-497
42 Bertoli, G., Resciniti, R. (2013), p. 27
43 Bertoli, G., Resciniti, R. (2013), pp. 27-28
44 Bertoli, G., Resciniti, R. (2013), p. 29
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cue45 used by consumers as indicator of quality, characterized by the combination of stereotypes, abilities, experiences and knowledge, real or perceived, of a certain country and its manufacture.46 The COO is used as substitute of the information of the product, as other factors as price or brand name do, especially in such cases where clear information is not easily retrievable, or where in general we have a superficial knowledge about the product. In some cases, the COO has higher influence than the brand itself with regard to perception of quality.47
It is important to focus on the perception of the country from the consumer perspective. Its perception is mainly influenced by two factors: a cognitive factor and an emotional factor.48 The first one is attributable to all the social, economic, cultural and political aspects of the country, whereas the emotional one has to do with the feelings and the specific behaviour of the costumer towards the country. However, these two factors are influenced by the stereotypes (rooted misconception) that are widespread at international level, which influence the image of the country in object. These misconceptions arise directly from a synthesis of the national culture, of the economic, political and social system, from the history of the country, religion, and even some aspects of the behavior of its citizens.49
In any case, the influence of the COO does not apply to any category of good or service. In fact, consumers tend to associate a certain category or typology of good or service with a specific country, in the same way they attribute specific characteristics to certain brands.50 In order to create this type of connection in the mind of the consumer, there should exist a logic correlation between the country and the category of the product in object, which conveys the idea that that specific country is effectively able to produce such products. If this logical connection is positive, the consumer will associate that country as a high-quality producer for that category of products. By consequence, the products of such a country will be considered as more valuable and trustworthy compared to the ones of other countries.51
In our study we decided to focus our attention on one country in particular, that represents one of the most studied examples in literature, and even one of the most interesting ones because
45 Characteristics that are related to the product, but not physically part of it. Price, brand name, and place of origin can be considered as examples of Extrinsic cue.
46 Pappu et al. (2007), pp. 143-154
47 Han, C.M., Terpstra, V. (1988), p. 235-254
48 Bertoli, G., Resciniti, R. (2013), p . 28
49 Ibid
50 Roth, M.S., Romeo, J.B. (1992), pp. 447-497
51 Bertoli, G., Resciniti, R. (2013), p . 30
15
of its tradition, historical and cultural heritage and appeal all over the world: Italy. Indeed, according to IPSOS, a well-known global market research and consulting firm, Italy figures as the third country for notoriety in the world, after only USA and Great Britain.
Figure 5: Most known countries in the world52
This percentage of knowledge is based on different aspects, first of all the massive cultural and artistic heritage that Italy has conserved for centuries. What is more, Italy is famous for its art of film, the competence, creativity and uniqueness in the fashion industry, and is also highly appreciated for its gastronomy. Logically, Italy enjoys a high level of reputation, in particular among the upper-class segment of population. In addition to that, another research by IPSOS focuses on the plurality and diversity of industries in which Italy, as a country, is perceived to be one of the highest quality producers. Not only fashion, tourism and gastronomy, but also furniture, jewellery or the automotive sector are perceived as categories in which Italy produces at high quality standards.
52 IPSOS (2017), p. 5. Research conducted on a sample of 10.100 people of different age, nationality and social class.
16
Figure 6: Industries where Italy is perceived to be a high-quality producer53
Even though it may be easily detectable and understandable because of its charm and history, these studies show how Italy can be a perfect country in order to analyse and understand the effects of the country, perceived as a brand, on products, and by consequence on consumers. It is no coincidence that Italian products are so positively perceived by consumers, and in some cases
53 IPSOS (2017) 72
59
71
54
31
42
59 56
24
9 0
10 20 30 40 50 60 70 80
Sectors where Italy is perceived to be a high-quality producer - Upper-class / Italy
Percentage
63 58 57
42 40 37
31 27
20
13
0 10 20 30 40 50 60 70
Sectors where Italy is perceived to be a high-quality producer - Upper-class / Foreign countries
Percentage
17
even more by foreigners than Italians, as we can see from Figure 6. In chapter II, I will try first of all to describe and understand the history, the peculiarities and the challenges of Italy and Made in Italy. Then, in chapter III and IV, I will analyse this specific country from the point of view of both enterprises and consumers.
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Chapter II
THE BRAND “MADE IN ITALY”
2.1 Story of Made in Italy
According to Gianluca Fascina,54 President of the fashion department of the Confartigianato del Veneto, the brand Italy represents an intangible infrastructure that is able to advertise Made in Italy products abroad. This is the reason why Made in Japan conveys the idea of high technology, Made in Germany makes us think about a reliable and durable product, and Made in China gives us the idea of lack of quality. At the same time, Italy is a brand full of fascination and history that has always “conquered” the preferences of costumers from all over the world. However, in order to better understand the affirmation and growth of Italy as a brand, it is important to focus on the period that saw the constitution and development of such industrial power.
12th February 1951: for many scholars and experts this is the most significant date to establish when Made in Italy was born. On that day, Giovanni Battista Giorgini, owner of one well- known buying office in Florence, had a clever idea. He decided to invite some representatives of foreign department stores to a fashion show, in one of the most beautiful locations in Florence, Villa Torrigiani in Oltrarno. Many different stylists and fashion houses were invited to take part with their dresses, among these Simonetta, Sorelle Fontana and Carosa di Roma. Organizing this brilliant and unique event, Giovanni Battista Giorgini was the first one to understand the high connection between art, fashion and Italy, and to bring together high qualitative products under the category
“Made in Italy”.55
The basis for such development dates back to the post World War II period, after the post- conflict reconstruction. The period ranging from 1958 to 1963 is identified by historians as the years of the “Italian economic miracle”, since investments in manufacturing industry rose to the 5,2% of GDP (1953), till the 6,3% of 1963.56 Between 1950 and 1961 the GDP registered an average yearly increase of 6,7%. The trade balance went from a shortfall of 343 million dollars in 1952 to a surplus
54 Fascina, G. (2014), p. 1.
55 Pitti Immagine (2016)
56 The average value in the previous years was 4,5%.
19
of 745 million dollars in 1959.57 This period of “Renaissance” of the Italian industry constituted the basis for a prosperous entrepreneurial structure that led to a new ascension of the Italian manufacture in the market. In fact, Italy was gradually able to affirm itself as a leader in the production and commerce of various manufacturing sectors: from fashion to jewellery, from ceramics to gastronomy.58 Despite the concern caused by the considerable economic differentials between Northern and Southern Italy, from the 50s the country carried out a growth path that will lead to its establishment as one of the greatest economies at worldwide level.
We can identify two main factors that were decisive for the Italian sudden development: the availability of cheap labour and the “explosion of entrepreneurship”. The availability of a cheap workforce led to a competitive advantage in terms of costs for the Italian industry. This has allowed Italian goods to be exported at highly competitive prices in the international market, in a period of high openness and integration. On the other side, a real phenomenon of “explosion of entrepreneurship” took place in the country. In fact, an extremely high number of small and medium enterprises (SMEs), which were often managed by families, started to characterize the Italian industrial landscape. From small and traditional workshops (carpenters, cobblers or blacksmiths) Italy switched to real manufacturing enterprises, with a transformation of the production processes, without losing the flavour of manufacturing.59 In its own familiar way, Italian manufacture could combine the “savoir faire” of the artisans and craftsmen, and the high-performing industrial production.60 Then, from the huge constitution and development of these SMEs, industrial districts (ID) began to form, in particular in the central – northern part of the country.61
However, the emergence of SMEs and IDs was not a phenomenon to be completely understood and exploited at that time. In fact, public policies were mainly directed towards the technology sector, in order to allow Italy to join the restricted group of technologically advanced countries. It was clear that the manufacture sector had a great impact on the Italian trade balance, however, its development was considered to be only a passing phenomenon in the Italian industrialization process.62 Nevertheless, because of the crisis of the Fordist model as from the 70s, the development of the Italian manufacture and in particular its organization in SMEs and IDs has
57 Castronovo, V. (2013)
58 Fortis, M. (2005), p. 5
59 Castronovo, V. (2013)
60 Becattini, G. (1998)
61 Fortis, M. (2005), p. 5
62 Becattini, G. (1998)
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been re-evaluated. In fact, the big enterprises needed to undergo a process of reorganization to adapt to a more flexible structure, in order to face market fluctuations more easily. One of the best solutions was to reorganize the supply chain between smaller enterprises specialized in one productive sector. However, the birth of Italian districts startedalready from the 60s, where smaller enterprises were able to organize themselves in a net of cooperative and competitive relationships.63 In particular, according to ISTAT data64 analysed by Becattini, in the decade 1971- 1981 the number of employees in the large enterprises decreased by 160.000 units, while the number of workers in the SEs increased by 140.000 units.65
Alongside this evolution in the structure of the enterprises, the period 1970-80 saw the affirmation of Italian enterprises in the so called “Four A” of Made in Italy: automation (Automazione), clothing (Abbigliamento), furniture (Arredocasa) and grocery (Alimentari). In fact, despite the difficult times that industry and commerce were facing at the time, Made in Italy products did not lose their appeal and recorded a positive 70s and in 80s, but also in the 90s, when the rest of the Italian and European economy seemed to slow down.66
In particular, the 90s can be regarded as a fundamental decade for the market affirmation of Made in Italy at a worldwide level, when the success of its products was clearly perceivable. In the newspaper “Il Sole 24 Ore” the articles containing the phrase “Made in Italy” were about fifty in 1984, while they raised to almost seven hundred in 1997.67 Furthermore, one year later, the publishing house “Il Mulino” introduced in their series the little book “Farsi un’idea”, which was completely dedicated to Made in Italy (already considered as a topic of public interest), focused on the excellence of the Italian productive system from the post-World War II.68
In the 2000s the growth of Made in Italy success did not slowed down, and despite the global crisis, the export of products of the Four A represented one of the most important budget sources in the Italian trade balance. In 2001, 62% of exports in the manufacture sector, in the amount of 164 billion of euro, consisted of light mechanical and household goods. Furthermore, a research by Marco Fortis69 underlines that between 1991 and 2001 the cornerstone of the Italian trade balance
63 Ibid
64 Such data can be found on dwcis.istat.it/cis
65 Becattini, G. (2007)
66 Fortis, M. (2005)
67 Fortis, M. (2005), p. 4
68 Fortis, M. (1998)
69 Marco Fortis is an economist, university professor and leader writer of Il Sole 24 Ore. He is also vice president of the Edison Foundation which promotes scientific research of the social, economic and cultural issues surrounding the Italian industry.
21
was made up by the exportation of such goods, with more than 400.000 enterprises in the country.70 In particular, household goods contributed in achieving a positive balance of 41 billion of euro on the trade balance, against a deficit of 22,5 billions of euro in the heavy industry.71 Again, according to Fortis, it was estimated that Made in Italy exportations represented the 57% of the whole national export in 2004, which resulted in a foreign trade surplus of 80 billion of euro.72 All these data show and demonstrate an increasing importance and above all a growing acknowledgement, over the years, of Made in Italy as a real sector, capable of being highly appreciated, especially from abroad.
2.2 Italy as a successful Country of Origin
According to Future Brand, Italy is considered to be the 5th most valuable country of origin for goods and services.73 This result is obtained by the remarkable development of Made in Italy along the years, which contributed to the creation of a public idealisation of the so-called “Italian- System” that is capable of conveying its abilities and its distinctive characteristics and improving the image of its products abroad. Nevertheless, this system is not easy to understand and it consists of many different aspects and points of view that are of great importance in the characterization and perception of the country. For this reason, in order to better understand what characterizes Made in Italy, I will focus on one question: what are the key ingredients that have made Italy such a desirable brand? I will analyse some of the cultural, social and historical factors that shaped Made in Italy from a brand perspective. These factors are considered to be “the contribution of Italy to Made in Italy”.74
70 Fortis, M. (2005a)
71 Becattini, G., Dei Ottati, G. (2006)
72 Fortis, M. (2005a)
73 FutureBrand (2015), p. 16
74 Bucci, A. et al (2011)
22
Figure 7: Ranking of Country of Origin per value75
The country “Italy” evokes in consumers’ minds positive attributes that are deeply rooted in the history and the perception of Italy as a country. These characteristics are strictly linked to the cultural history of the country, its art and literature tradition, especially if we go back to the centuries of Renaissance, where Italy was probably the most important centre and point of reference for a wide range of arts and handicraft. The most important churches, Renaissance palaces, roman ruins and extraordinary masterpieces of artists of the importance of Michelangelo, Brunelleschi or Leonardo have contributed to pass on attributes of creativity, aesthetics, and in general high-quality standards and capabilities through the centuries. In this sense, according to Squicciarino (1986), a significant role in the research of beauty was played by the Catholic Church, which first-hand financed and encouraged artistic expression.76 The prolonged contact with such artists and their masterpieces, throughout the years, led the Italians to develop a natural and innate sensibility for the aesthetics.77 The sense of beauty and quality of that epoque has reached the present times, facilitating the perception of the differential value between Italy and other rival countries. By consequence the brand “Made in Italy” has preserved the idea not only of high production competences, but also of beauty and uniqueness of products and artefacts that
75 FutureBrand (2015), p. 16
76 Ibid
77 Squicciarino, N. (1986)
