• Asia Marketing Journal
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• v.15 no.4
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• pp.1-32
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• 2014

The purpose of this paper is to investigate upon a diversification strategy through market creation of CJ Group, which has contributed in positioning of the firm as one of the leading conglomerates in South Korea. With such objective, the background of CJ Group, followed by its business diversification strategies were explored, with reference to several case studies. The history of CJ Group began with establishment of CheilJedang Industrial Corporation in 1953, as the first domestic sugar producer and exporter of South Korea. The corporation gradually expanded its business ever since at both national and global level, to include the fields of food production, pharmaceutical, biotechnology, and life chemicals. Later, CheilJedang (CJ) Group was established as an affiliate of CheilJedang Industrial Corporation. With such independence, extension of business has been witnessed across the industries of media, entertainment, finance, information technology and distribution. Thus, the current CJ Group pursues to define itself as a progressive global living culture company with four major business categories from food and food service, biotechnology, entertainment and media, and logistics. Despite its success in today's market, CJ Group underwent hardships in its business diversification in 1990s due to indiscreet management, along with the Asian financial crisis. Here, many firms overcame the financial difficulties by taking advantage of the exchange rate for overseas expansion. Though, CJ Group tried to differentiate itself by focusing on the domestic market by creating something out of nothing. Hence, CJ Group takes a unique position among many cases of business diversification and their categorization. In an effort to identify and classify the types of growth experienced by the top 30 companies in South Korea, the firms were categorized into four groups according to their diversification strategies adapted after the Asian financial crisis. Based on the mode and time of entry, corporations were identified either as the 'Explorer', 'Invader', 'Venture Capitalist', or 'Assimilator'. Here, the majority of the firms showed the qualities of Invader, entering mature markets through large-scaled mergers and acquisitions. However, CJ Group was the only firm that was categorized as an Explorer, for its focus on the newly emerging service sector in culture-contents industry. This diversification strategy through market creation is worth examining, due to its contribution in generating simultaneous growth between the market and the company itself. Diverse brands of CJ Group have been referred to as case studies in this regard, from 'Hatban', 'Cine de Chef', 'VIPS' to 'CJ GLS'. These four businesses, each to represent processed food, film, restaurant service, and logistics industries respectively, show CJ Group's effectiveness in creating a whole new category of goods and services that are innovative. In fact, such businesses not only contributed in advancement of consumers' wellbeing, but toward generating additional value and employment. It is true that the diversification strategy of CJ Group requires long-term capital investment with high risk, compared to the other strategies mentioned in the paper. However, this model does create high employment and additional values that are positive to both the society and the firm itself. Therefore, the paper comes to a conclusion that the diversification strategy through market creation conveys the most positive impact relative to the others.

• Asia Marketing Journal
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• v.16 no.2
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• pp.39-57
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• 2014

There has been recognition of the increasing importance of cooperation as an element of marketing strategy. Such cooperation is confined to four levels based on product development, sales promotion, pricing arrangements, and place (or distribution) mechanisms as the usual marketing 4Ps mixed (Varadarajan 1986). At present, however, little is known about the nature of tie-in promotion as a cooperative sales promotion comparing three other levels. The primary goal of this study is to examine the effect of consumer - tie-in promotion relationship on loyalty. The construct of consumer - tie-in promotion relationship is based on the previous research on consumer-brand relationship. In addition, this study divides the concept of loyalty into host brand loyalty and partner brand loyalty to reflect the characteristics of tie-in promotion including program in order to determine the effect of the consumer - tie-in promotion relationship on loyalty. The results showed that the three dimensions of the consumer - tie-in promotion relationship (i.e., commitment, intimacy, and interdependence) had significantly positive effect on program loyalty. The effect of program loyalty is significantly on both host and partner brand loyalty. This study empirically tested the relationships among consumer - tie-in promotion relationship, program loyalty, host brand loyalty, and partner brand loyalty, and then compared with the difference in the suggested model for the target customers and non-target customers. As a result, for target customers, intimacy and interdependence among dimensions of consumer - tie-in promotion relationship had significantly positive influence on program loyalty. In case of non-target customers, however, commitment and interdependence among dimensions of consumer - tie-in promotion relationship had significantly positive influence on program loyalty. Also, program loyalty had significantly positive impact on host brand loyalty and partner brand loyalty in both target and non-target customers. This study has significance in that it addresses the need to identify research and academic implications by analyzing the consumer - tie-in promotion relationship to determine the relationship between tie-in promotion and loyalty, which has not been clearly described by previous studies. Furthermore, this study builds a foundation for firms and managers actively using tie-in promotion to establish tie-in promotion strategies that can maximize loyalty for both host and partner brands from the consumers' point of view.

• Asia Marketing Journal
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• v.12 no.4
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• pp.183-201
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• 2011

In case of Aju capital, it adopted a strategy to use a single brand not two separate brands after M&A was completed. In order to implement this strategy, it has endeavored to effectively process the work of shifting existing marketing infrastructure of DAEWOO capital, the mergee, spending enough transition time for the brand migration. In the process of merging, Aju capital picked the strategy to use the brand of mergee first, which is the Daewoo Capital brand, and then took a transition time for a while to converge to the single brand of Aju capital. Putting another way, even if the M&A deal was completed back in 2005, it maximized the effect of launching its final brand "Aju capital" by capitalizing on the positive image of "Daewoo" during the transition time and changing its name just in the right moment. In a bid to implement this strategy successfully, it established a cautious but sophisticated brand migration strategy. 1) "Brand bridge" strategy through reinforcing brand power of "Naegeron", which is an individual product brand of Daewoo Capital 2) Establishing a good brand image through reinforcing customer satisfaction 3) It implemented and completed its brand transition initiative by going through the step of Aju Capital brand unification (from Sept 09 to present) Currently, the sales unit of Aju Capital is realizing quality growth through specialization. It's strategy is to construct a systematic sales portfolio in terms of both quality and quantity through product-by-product specialization where the existing practice was selling a variety of products in a single branch. Back in 2009, it opened a branch that specialize in imported cars and expanded its used car business to 6 specialized locations. Besides, the specialized locations for personal loan named "Naegeron" was expanded from 3 to 11 locations. Recently, it is expected that it will inject vigor to retail and corporate financing business alongside with its core business, which is auto financing.

• Asia Marketing Journal
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• v.8 no.1
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• pp.1-17
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• 2006

A couple of previous studies have warned against the use of homogeneous choice models in assessing the effect of reference price since unaccounted for response heterogeneity may result in spurious reference price effects(Chang, Siddarth and Weinberg 1999; Bell and Lattin 2000). According to Meyer and Kahn(1991), not accounting for consideration set heterogeneity may also bias the effect parameters in the choice model. Therefore, failure to account for these two sources of bias, in fact, have cast doubt on the empirical support for reference price effects in general. In view of aforementioned potential sources of bias, the author investigates the robustness of loss aversion effect in the reference-dependent model after accounting for heterogeneity in response as well as consideration set. The proposed model defines individual household's consideration set based on the posterior distribution of preference obtained from the Empirical Bayes approach. In addition, the same posterior distribution is used to form household-specific reference prices. Response heterogeneity correction is carried out via the Latent Class approach. The proposed model outperforms the Reference-Dependent model that includes the reference price measure most often employed in the previous studies. This implies that as a way of simplifying decision task, consumers restrict their consideration set to a subset of available brands not only in making a brand choice but also in forming reference prices.

• Restorative Dentistry and Endodontics
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• v.48 no.3
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• pp.22.1-22.8
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• 2023

Objectives: This study was conducted to evaluate and compare the tip and taper compatibility of accessory gutta-percha points (AGPs) with various rotary and reciprocating instruments. Materials and Methods: Using a profile analyzer, tip and taper measurements were taken of 10 AGPs of each of the 14 models available from Odous de Deus and the 4 models available from Dentsply-Maillefer. Diameter measurements were taken at 1-mm intervals, from 3 mm from the tip (D3) to 16 mm. Results: Based on the mean values obtained, 3-dimensional (3D) models of the AGPs were drawn in Autodesk Fusion 360 and superimposed on 3D models of each instrument selected (Mtwo, Reciproc, RaCe, K3, and ProDesign Logic) to determine the compatibility between the instrument and the AGP. Data corresponding to the tips and tapers of the various AGPs, as well as the tip and taper differences between the AGPs and the instruments, were analyzed using descriptive statistics. The tapers of the AGPs were subject to the American National Standards Institute/American Dental Association No. 57 standard. The Odous de Deus extra-long medium and extra-long extra-medium AGPs were shown to be compatible with Mtwo, K3, and ProDesign Logic instruments with taper 0.06 and tip sizes 25 and 30, while the Dentsply fine and fine medium cones were compatible with Mtwo, RaCe, and K3 instruments with conicity of 0.04 and tip sizes 35 and 40. Conclusions: Both the Odous de Deus and Dentsply commercial brands included 2 AGP models with tip (D3) and taper compatibility with Mtwo, RaCe, K3, and/or Prodesign Logic instruments.

• Journal of Service Research and Studies
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• v.14 no.2
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• pp.69-81
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• 2024

The The purpose of this study is to have a positive impact on the evaluation of the traditional market revitalization project by discussing the business details and implementation process of the commercial district revitalization project in depth. The research method uses practical methods for traditional market revitalization projects. First, the activation method of the place was examined through the concepts of Oldenburg's 'Third Place' and Carr et al.'s 'Five Demands for Public Space' and the theories related to non-face-to-face transactions were examined. The first study case was the commercial district revitalization project of the Cheongju Global Market Development Project(Seongan-gil Street Shopping Mall and Yukgeori traditional Market), which discussed revitalization of open space, revitalization through reproduction, and revitalization through festivals. The revitalization project through representation is a project to install a symbolic sculpture at the estimated location of the 'Namseokgyo' buried in Yukgeori traditional Market. The revitalization through the festival is the Korea Sale Festa, which is a vibrant business due to increased sales at traditional markets and shopping malls and floating population in open spaces. The second study case was the Cultural Tourism Promotion Project(Hanmin traditional Market), which discussed revitalization through the development of local brands and SNS content. In the conclusion, the relationship between the six projects and commercial district revitalization methods was discussed, and policy recommendations were made, mentioning the importance of reflecting regional characteristics in design planning. We hope that this study will be used to positively evaluate the traditional market revitalization project, showing that stakeholders are working hard to produce positive results within institutional limitations.

• Journal of the Korean Applied Science and Technology
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• v.40 no.4
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• pp.825-842
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• 2023

This study conducted a survey to analyze the influence of the consumer-brand interaction and the consumer-brand relationship on motivation and satisfaction based on the perceived age of men and women in their teens and 50s who subscribe to cosmetic brands through SNS accounts. For statistical processing of the collected data, frequency analysis, factor analysis, reliability analysis, regression analysis, and multiple regression analysis were performed with SPSS 21.0. The perceived age of the subjects was classified into 'perceived lower group', 'perceived middle group', and 'perceived higher group' according to the difference between the age perceived by others and the age perceived by themselves. In the three groups, the consumer-brand interaction and the consumer-brand relationship showed a meaningful positive relationship with motivation, and the consumer-brand relationship was found to be a major variable explaining 'attractive' among motivation. In the three groups, the consumer-brand interaction and the consumer-brand relationship showed a significant positive relationship with satisfaction, and the consumer-brand relationship appeared as a major variable explaining satisfaction. Therefore, the conclusion of this study is that by perceived age group, the consumer-brand interaction and the consumer-brand relationship have a positive effect on motivation and satisfaction. In particular, it was found that the consumer-brand relationship is a major variable in cosmetics motivation and satisfaction. As this study empirically analyzes the influence of age perceived on SNS on cosmetics brand marketing, it is considered to be a practical implication for establishing cosmetics sales strategy and basic data that can be used for marketing.

• Journal of Service Research and Studies
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• v.14 no.1
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• pp.27-43
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• 2024

The market share of online platform services in the used car market continues to expand. And The used car online platform service provides service users with specifications of vehicles, accident history, inspection details, detailed options, and prices of used cars. SUV vehicle type's share in the domestic automobile market will be more than 50% in 2023, Sales of Hybrid vehicle type are doubled compared to last year. And these vehicle types are also gaining popularity in the used car market. Prior research has proposed a used car price prediction model by executing a Machine Learning model for all vehicles or vehicles by brand. On the other hand, the popularity of SUV and Hybrid vehicles in the domestic market continues to rise, but It was difficult to find a study that proposed a used car price prediction model for these vehicle type. This study selects a used car price prediction model by vehicle type using vehicle specifications and options for Sedans, SUV, and Hybrid vehicles produced by domestic brands. Accordingly, after selecting feature through the Lasso regression model, which is a feature selection, the ensemble model was sequentially executed with the same sampling, and the best model by vehicle type was selected. As a result, the best model for all models was selected as the CBR model, and the contribution and direction of the features were confirmed by visualizing Tree SHAP Value for the best model for each model. The implications of this study are expected to propose a used car price prediction model by vehicle type to sales officials using online platform services, confirm the attribution and direction of features, and help solve problems caused by asymmetry fo information between them.

• Knowledge Management Research
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• v.25 no.1
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• pp.43-66
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• 2024

In an era where digital technology reshapes brand-consumer interactions, this study examines the influence of Nike's Run Club and Adidas' Runtastic apps on loyalty and advocacy. Analyzing 3,715 English reviews from January 2020 to October 2023 through text mining, and conducting a focused sentiment analysis on 155 'recommend' mentions, we explore the nuances of 'hot loyalty'. The findings reveal Nike as a 'companion' with an emphasis on emotional engagement, versus Runtastic's 'tool' focus on reliability. This underscores the varied consumer perceptions across similar platforms, highlighting the necessity for brands to integrate user preferences and address technical flaws to foster loyalty. Demonstrating how customized technology adaptations impact loyalty, this research offers crucial insights for digital brand strategy, suggesting a proactive approach in app development and management for brand loyalty enhancement

• Journal of Korean Society of Water and Wastewater
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• v.37 no.6
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• pp.425-435
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• 2023

Organoleptic parameters such as color, odor, and flavor influence consumer perception of drinking water quality. This study aims to evaluate the taste of the selected bottled and tap water samples using an electronic tongue (E-tongue) instead of a sensory test. Bottled and tap water's mineral components are related to the overall preference for water taste. Contrary to the sensory test, the potentiometric E-tongue method presented in this study distinguishes taste by measuring the mineral components in water, and the data obtained can be statistically analyzed. Eleven bottled water products from various brands and one tap water from I city in Korea were evaluated. The E-tongue data were statistically analyzed using multivariate statistical tools such as hierarchical clustering analysis (HCA), principal component analysis (PCA), and partial least squares discriminant analysis (PLS-DA). The results show that the E-tongue method can clearly distinguish taste discrimination in drinking water differing in water quality based on the ion-related water quality parameters. The water quality parameters that affect taste discrimination were found to be total dissolved solids (TDS), sodium (Na+), calcium (Ca²⁺), magnesium (Mg²⁺), sulfate (SO₄^2-), chloride (Cl^-), potassium (K⁺) and pH. The distance calculation of HCA was used to quantify the differences between 12 different types of drinking water. The proposed E-tongue method is a practical tool to quantitatively evaluate the differences between samples in water quality items related to the ionic components. It can be helpful in quality control of drinking water.