An important reason why individuals join groups or communities is to satisfy their needs for identity. Firms might exploit this societal tendency to gain a competitive advantage. Using the strategic approach adopted by Kiehl’s, a U.S. cosmetic producer and retailer, as a source of inspiration...

Licensing a cost-reducing innovation through a royalty has been shown to be superior to licensing by means of a fixed fee for an incumbent licensor. This note shows that this result relies crucially on the assumption that the incumbent licensor can sell its cost-reducing inno-vation to all...

An important reason people join communities is to satisfy their identity needs. Firms might exploit this societal tendency to gain competitive advantages and thus stronger economic profits than rivals. By reviewing the strategic approach adopted by Kiehl's, a U.S. cosmetic producer and retailer,...