ABSTRACT
The chapter was dedicated to understand the concept of creativity and to unveil managerial lessons to guide the strategy formulation of the firm. It is devoted to the role of creativity beyond firm boundaries. The chapter complements the study of creativity with the external analysis. It aims to clarify how to perform the external analysis to support the firm’s strategy. One key aspect of appreciation is understanding. In luxury, it is not enough to receive a message. Luxury firms must pay close attention to the complexity involved in appreciating value. The difference between the translation and the teaching stages is perhaps more subtle. The analysis of value appreciation can help luxury managers to improve the firm competitiveness and improve at the same time the consumer appreciation journey. The key idea is that the different environments represent different forms of value creation and hence competitiveness. Finally, the chapter concludes with a comparison between the creative and non-creative markets.
