- P-ISSN1738-3110
- E-ISSN2093-7717
- SCOPUS, ESCI
ISSN : 1738-3110
Vol.13 No.7
Abstract
Purpose - Gen Y college students have emerged as a profitable consumer segment because of their growing purchasing power and influence on others' buying decisions. Digital marketing is deemed effective in increasing Gen Y college students' knowledge of and interest in products and services. This research examined the effect of digital marketing on Gen Y college students'perceptions, attitudes and purchase intentions toward cotton clothing compared to that of conventional print marketing and no marketing. Research design, Date and Methodology -Data were collected from three different groups of college students from a large university in the U.S.: the group with no cotton marketing, those with print media marketing, and those with digital marketing. Result - The findings confirmed that college students who were exposed to cotton digital marketing displayed the highest level of agreement on the benefits of cotton clothing. They also exhibited the most favorable attitudes and strongest purchase intentions toward cotton clothing. Conclusions - To target Gen Y consumers effectively, marketers should consider a digital marketing strategy to promote their products and services.
Abstract
Purpose - This paper reviews the changes in the ship export and import structure between Korea and China. It utilizes the comparative advantage trade theory to analyze time-series statistical data from the market share index, revealed comparative advantage index (RCA), and trade specialization index(TSI). Research design, data, and methodology - Based on their economic phases, both Korea and China have similar country characteristics. The purpose of this research is to understand the two country's trade structures to fortify the Korea-Sino economic relationship including verifying what is working and what is not. Results - Based on the analysis, bilateral economic activity to achieve a plus trade stimulus environment should be realized in the long run. Both countries should establish guarantee-free trade negotiations and boundaries instead of various non-tariff barriers. Conclusion - Reviewing the research, a sound competitive relationship can be grown for mutual benefit including export market diversification in the near future. The review of the Korea-Sino ship industry is keenly important and investigative research about it is timely because it is a major industry in each country.
Abstract
Purpose - This study attempts to identify the attributes of home meal replacements (HMR) from the perspective of consumers as well as suggest some directions for HMR. Research Design, Data, and Methodology - For the research, food and nutrition professors were interviewed and surveys were completed using the revised Delphi method to identify attributes of HMR. Subsequently, a total of 140 food and nutrition students already aware of HMR were asked to rate the attributes in terms of importance and satisfaction. In addition, Importance-Performance Analysis (IPA) was conducted. Results - According to the analysis results, a total of seven key factors were deduced from the attributes ratings and the Kaiser-Meyer-Olkin (KMO) criteria, which is used to verify the appropriateness of the selection of the variables. Conclusion - The findings could be helpful in the future as reference data for HMR producers and distributors to assist in the diagnosis of the status of HMR. Additionally, the data may point to some areas that need greater attention in terms of production as well as marketing.
Abstract
Purpose - This study aims to measure the influence of the positive psychological capital (PPC) of business workers by using innovative work behavior (IWB) and the influence of Leader-member exchange (LMX) and Member-member exchange (MMX) in this relation and investigating the directional efforts of small and medium company leaders and members. Research Design, Data, and Methodology - This study selects PPC as an integrated superior concept to establish research models and hypotheses of the influence of PPC on IWB, and the influence of LMX and MMX in these relations. Of the questionnaires distributed, 373 valid questionnaires were collected in total. Results - It was confirmed that the PPC of workers has a statistically significant influence on LMX, MMX, and IWB. Moreover, LMX and MMX have similar influence on worker life satisfaction with life satisfaction and innovative work behavior having different dimensions. Conclusion - To enhance IWB, worker PPC is very important as it has significant influence on the relations with leaders. However, it is also notable that positive relations with colleagues did not influence IWB.
Abstract
Purpose - This study aims to find out what impacts large retailers' behaviors appearing when they promote the strengthening of their market dominating power in the trade relations with small and medium suppliers or in the market can have on consumers. Research design, data, methodology - This study analyzed negative information (news) on large retailers (Lotte Mart, E-Mart and Homeplus) based on the monthly data over the past five years from 2008 to 2012 and also analyzed the correlation between dependent variables that are likely to affect sales through large retailer economic index, Results - This study conducted a correlation analysis on the time lag of the factors that have an impact on the negative information and sales of large retailers in order to analyze how consumers respond to the choice of large retailers' store (store sales) when they perceived negative information about the un- ethical behaviors of large retailers. Conclusions - Unfair and negative information on large retailers appeared significant for the hypothesis that sales will be affected by the image of large retailers and change of consumer attitudes.
Abstract
Purpose - This study analyzes loading efficiency by loading pattern for package standardization and reduction of logistics costs, along with the creation of revenue for the revenue review panel (RRP) of Membership Wholesale Clubs (MWC). The study aims to identify standard dimensions that can help improve the compatibility of the pallets related to display patterns preferred by the MWC and thereby explore ways to enhance logistics efficiency between manufacturers and retailers through standardization. Research design, data, and methodology - The study investigates and analyzes the current status based on actual case examples, i.e., manufacturer A and Korea's MWC (A company, B company, and C company), and thus devises improvement measures. To achieve this, the case of manufacturer A delivering to MWC was examined, and the actual pallet display patterns for each MWC were investigated by visiting each distribution site. In this study, TOPS (Total Optimization Packaging Software, USA) was used as the tool for pallet loading efficiency simulations the maximum allowable dimension was set to 0.0mm to prevent the pallet from falling outside the parameters, and the loading efficiency was analyzed with the pallet area. In other words, the study focused on dimensions (length x width x height) according to the research purpose and thereby deduced results. Results - The analysis of pallet loading patterns showed that the most preferred loading patterns for loading efficiency according to product specification, such as pinwheel, brick, and block patterns, were used in the case of the general distribution products, but the products were configured with block patterns in most cases when delivered to MWCs. The loading efficiency by loading pattern was analyzed with respect to 104 nationally listed standard dimensions. Meanwhile, No.51 (330 × 220mm) of KS T 1002 (1,100 × 1,100mm) was found to be the dimension that could bring about an improved loading efficiency, over 90.0% simultaneously in both the T-11 and T-12 pallet systems in a loading pattern configuration with the block pattern only, and the loading efficiency simulation results also confirmed this as the standard dimension that can be commonly applied to both the T-11 pallet (90.0%) and the T-12 pallet (90.7%) systems. Conclusions - The loading efficiency simulation results by loading pattern were analyzed: For the T-11 pallet system, 17 standard dimension sizes displayed the loading efficiency of 90.0% or more as block patterns, and the loading capacity was an average of 99.0%. For the T-12 pallet system, 35 standard dimension sizes displayed the loading efficiency of more than 90% as block patterns (the average loading efficiency of 98.6%). Accordingly, this study proposes that the standard dimensions of 17 sizes with the average loading efficiency of 99.0% should be applied in the use of the T-11 pallet system, and those of 35 sizes with the average loading efficiency of 98.6% should be reviewed and applied in the use of the T-12 pallet system.
Abstract
Purpose - This research analyzes overseas expansion support systems for small- and medium-sized enterprises in Germany and Japan. Germany and Japan have developed overseas expansion support policies for such enterprises. The study then explores the implications for Korea and its local governments. Research design, data, and methodology - We did a comparative analysis of Japan and Germany and their support for overseas expansion of small and medium companies. Data were mainly collected from the Ministry of Economy, Trade and Industry (Japan) and the Germany Trade and Invest (Germany) agency through statistics and literature surveys, and analysis studies. Results - First, human resources cultivation and funding support policies, which both Germany and Japan use as part of small- and medium-sized enterprise policies, should be modified to Korean circumstances and to reflect its own small- and medium-sized enterprise support needs. Second, both the German policies that support overseas expansion of small- and medium-sized enterprises and those of Japan's include the philosophy and methods that put an emphasis on these enterprises, despite the fact that there are big differences in the overseas policies in these two countries. Third, German and Japanese governments are embracing the idea that small- and medium-sized enterprises are key to their national economies and implementing policies based on the ratio occupied by these enterprises in the domestic consumption or GDP. In other words, Germany and Japan consider small- and medium-sized enterprises as central to their nation's industry, and assess them as economic industry that should definitely exist for the continued survival of big businesses, and not just as merely supplemental to big business. Fourth, whereas Germany emphasizes support to product exhibition in its overseas expansion support policies, Japan is providing integrated support containing foreign direct investment to small- and medium-sized enterprises. Fifth, there are differences in the overseas expansion support in Germany and Japan in terms of their support to big business. Whereas Germany considers support to big business unnecessary, Japan is implementing active support policies to areas corresponding to big business. Korea will have to benchmark the policies of Germany and Japan, and decide whether or not to give full support to small- and medium-sized enterprises, while excluding areas supporting big business. Conclusions - Based on this analysis of German and Japanese overseas expansion support policies, we need to choose the policies that will engender a solid outcome and derive modified policies for the circumstances of Korea. Additionally, we can use the comparison of the overseas support policies of Japan and Germany to choose small- and medium-sized enterprise overseas expansion support policies for Korea. However, we cannot provide specific overseas support policies by industry. This point will be referenced as a limitation of this study. In future research, we expect that some researchers will take an empirical approach to exploring Korean overseas expansion support through collecting cases of overseas support policies and interviewing policy authorities.
Abstract
Purpose - The characteristics of the modern management environment in Korea clearly involve the limitations of knowledge management, globalization, changes in industrial structures, polarization of the economy, consumption, and education, and the demand for creative management. To achieve a continuous competitive advantage for individuals as well as organizations, Wisdom Management can be said to be a paradigm for the current environment. The Research is an alternative to environmental management in the early study of the need to conceptualize the theoretical approach to wisdom management. In other words, it presents a new management paradigm for a business environment of uncertainty and unpredictability. Furthermore, it aims to propose Wisdom Management as an alternative in the modern management environment as well as a topic of discourse. Its purpose is to provide basic knowledge to people who study and practice in this field to strengthen the competitiveness of individuals and companies. Research design, data, and methodology - This paper first provides six characteristics of the current management environment at home and abroad. It then attempts to emphasize the necessity of wisdom based on such characteristics by classifying wisdom according to recent management study research. This allows the derivation of definitions of wisdom management, suggesting its components and properties. Results - The six characteristics of the modern business environment are: 1) limits of knowledge, 2) intensifying globalized competition, 3) changes in industry structure - IoT (Internet of all Things) trend, 4) serious polarization and social unrest diffusion, 5) personal and organizational competitiveness creativity requirements, and 6) domestic special national and social situations. Therefore, accordingly, wisdom can be defined and classified as: wisdom that offers potential integration beyond knowledge, practicing and maintaining knowledge wisdom as an efficient strategy for an organization wisdom as a decision-making process that addresses ambivalence wisdom as the pursuit of common goods based on ethics; and, wisdom as creativity that involves intuition and insight. This paper attempts to define Wisdom Management in accordance with these definitions of wisdom. Wisdom Management is a management system that is awareof the current environment given in the multidimensional perspective, achieves the efficiency of the organization and the goals of common good through an uncertain decision-making process, based on the organization of individual and organizational knowledge, and the internal experiences and resources. Wisdom Management components include human beings, virtue, knowledge, creativity, and ambivalent thinking. Its properties include intentionality, self-destructiveness, creative and ethical reflexivity, complexity, insight, unpredictability, ambivalence, and wholeness. Conclusions - Since all organizations face the limitations of their environment, crises, and opportunities, applying wisdom in management to develop as Wisdom Management can be an inevitable alternative to the uncertainties of the management environment faced by modern society. The conceptualization of Wisdom Management forms a valuable context to further advance knowledge management theory into practice. It is also a cornerstone of strategic management and can provide insight into its potential for success and implementation.
Abstract
Purpose - Recently, many large retailers have been frequently purchasing commercial brands. Not only the quality of products purchased but also the brand images are of concern in this process. Based on this rising trend, commercial brands have become an important issue in the retail business world, along with increasing general interest as well. Thus, this study focuses on the factors affecting commercial brand images and clarifies the impact of the resulting factors as well. First, store images and familiarity, price sensitiveness, and knowledge are presented as the effect factors for commercial brands. Second, the study tries to clarify the effect of commercial brand image on the reliability and loyalty of customers. Research design, data, and methodology - To conduct the study methodology, 250 questionnaires were distributed to retailers who have used large discount stores located in Busan to purchase a commercial brand a total of 234 valid questionnaires were used in the final analysis. To verify the hypotheses, a structure equation formula using Amos 20.0 was calculated. First, prior to the verification of hypotheses, the reliability and feasibility of the questions were tested, and as a result, the value of Cronbach's alpha was higher than 0.7, thereby showing reliability. Additionally, for the verification of the feasibility of the questions, a confirmation factor analysis was implemented. Results - First, variances such as store images, familiarity, price sensitivity, and knowledge were presented as the factors of effect on commercial brands. As a result of the hypotheses verification, all the effect factors presented in this study were confirmed as important variables of commercial brand images. The hypotheses were drawn based on the studies relating to existing commercial brands, and thereby, a result similar to previous studies was produced. However, the effect factors of the commercial brand image presented in this study shaped a new study model based on the previous studies. Second, it was found that commercial brand images had positive effects on the reliability and loyalty of customers. This study presented reliability and loyalty as the resulting factors of commercial brand image because they are the most important factors in relation to customer behavior and variables that can suggest marketing points for distribution businesses. Conclusions - This study focused on clarifying the factors that are important effect factors for commercial brand images. As a result, all the hypotheses were confirmed in this study, indicating a meaningful result, and thereby suggesting many points that can be presented to distribution businesses. First, the proper strategies should be developed based on the hypothesis that a store image, the familiarity of customers with brands, and the price sensitiveness and knowledge level of customers have an important effect on the choice of commercial brands. Additionally, the formation of such favorable images will have positive effects not only in terms of customer trust in the commercial brands but also in terms of their loyalty.
Abstract
Purpose - Global trends play a part to change the structure of the fashion industry. In particular, companies attempting to conduct innovative marketing centering on such products as SPA brands are growing into global companies. SPA stands for "Specialty Store Retailer of Private Label Apparel", meaning its activities are fully integrated from manufacturing through sales, including material procurement design, product, distribution, inventory management, and final sales. For this reason, more understanding of individual corporate profitability is very sensitive to consumer's attitudinal changes. The effects that corporate marketing activities on customer lifetime value through brand attitude were analyzed based on a structural equation model. Rust suggested value equity, brand equity, and relationship equity as customer equity driver. The study examines Chinese consumer because China is the fastest growing fashion market in the world. Research design, data, and methodology - The survey targeted Chinese college student age 20s. Only respondents who had purchased SPA brands in the past year were included for this research. A total of 303, except for 47 missing data of 350 distributed questionnaires were included in this research. The questionnaire is consists of six part to measure value, brand, relationship equity, attitude toward brand, purchase intention and demographic characteristics. This research conducted exploratory factor analysis and reliability test. To verify research hypotheses, structural equation model test was conducted. As for customer equity, diversified models in consideration of the scope of acquisition data, a method of collection of data, influencing factor, and predictability were suggested based on a net present value model. However, the history of customer equity study is relatively short, and sufficient empirical analyses have not been conducted, so more integrated analysis is required. In this study, the concept of driver suggested by Rust was applied to figure out the effects that consumer's attitude has on customer equity. The customer equity driver suggested by them consists of brand equity, value equity, and relationship equity. Results - This study reveals that value equity and brand equity have a positive influence on relationship equity. And, relationship equity has a positive influence on purchase intention through brand attitude. However, value equity and brand equity do not influence on brand attitude. Conclusion - The results of this research generated following implications. First, SPA brands need to take advantage of their value equity such as perceived low price and up-to-date fashion style to attract Chinese young consumer. Second, strong brand equity promises dominants position in the competitive market. As Chinese fashion market grows rapidly, SPA brands can consider branding strategy such as flagship store and celebrity marketing enhancing brand image. Third, the core concept of customer equity strategy is to maintain a relationship with their expecting and existing customers. The relationship equity is built by brand equity and value equity. When SPA brands serves product and service meet with individual customers, customers have intimacy to the brands.