• Title/Summary/Keyword: Business Expansion

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TONYMOLY Cosmetic Company: A Small but Smart Marketing Player

  • Song, Ji-Hee;Lee, Sungho
    • Asia Marketing Journal
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    • v.15 no.1
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    • pp.169-188
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    • 2013
  • Established in 2006 as the forward integration effort by Taesung Industry, the major cosmetic packaging company, TONYMOLY has phenomenally grown to one of the major cosmetic brand companies in the submarket called, 'one brand-shop' of cosmetic market since 2008, after overcoming the crisis of 'going out of business' in a couple of early years. Within a relatively short period of time, TONYMOLY's performances have dramatically improved in terms of metrics such as growth in sales revenue, the number of stores, the average sales per store, transaction value per customer, the number of monthly transactions, the number of membership-based customers, and overseas sales. In this case study, we have examined TONYMOLY's recent marketing activities which may explain the plausible reasons behind the substantial growth of a small but smart cosmetic company. Above all, the first key success factor of TONYMOLY would be found in its adherence to the clear philosophy of the customer value proposition and/or the differentiated position of TONYMOLY as a brand of providing value. Second, this brand concept of value was first penetrated and welcomed among the foothold customer target group of mid and late teens with appropriate products, while the target groups were later expanded into the age group of twenties along with expansion of relevant products. Third, its differentiation efforts have been concrete and meaningful by utilizing unique ingredients in its product development and marketing efforts, unique fun packaging, and continuously introducing new hit-selling products as well as managing steady-selling products. Fourth, TONYMOLY has been smart enough to use its limited marketing money efficiently and effectively in its marketing communication activities. Viral marketing, PPL, and concentrated media planning and execution turned out to produce effective and efficient market-based performances such as awareness, word-of-mouth, and sales. Lastly, the marketing leadership of CEO and top management, emphasizing communications and interactions, was confirmed in the relationship quality with and trust level of its franchisees and internal employees. These key success factors may explain the recent phenomenal market performances of TONYMOLY. Despite recent successes, the major issues are presented for TONYMOLY to consider for maintaining its sustainable advantages and growth. The first issue concerns TONYMOLY's choice of growth philosophy between product/brand-centric marketing and customer-centric marketing. The second challenging issue relates to how TONYMOLY can cope with 'growing pains' plausibly accompanied with the rapid growth.

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An Effect of a Company's Organizational Orientation and R&D Capability on the Success of New Products/Services (기업의 조직지향성과 연구개발능력이 신제품/서비스 성공에 미치는 영향연구)

  • Han, Gyu-hyeong
    • Journal of Venture Innovation
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    • v.4 no.3
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    • pp.31-47
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    • 2021
  • Variables such as R&D capability and organizational orientation have been dealt with in previous studies on factors that affect the success of new products/services in technology-based companies, but there have been few studies examining the causal relationship of these variables from an integrated perspective. Therefore, this study aims to analyze the effect of the organizational orientation and R&D capability of technology-based SMEs, consisting of customer orientation, innovation orientation, and competitor orientation, on the success of new products/services. In addition, we want to analyze the influence of a company's product/service competitiveness on the success of new products/services. The survey was commissioned by a research company, and 382 valid copies were analyzed by conducting a survey to corporate members in the technical job-related industry. The questionnaire analysis was performed using SPSS 26.0 and Smart PLS 3.0.Customer orientation, innovation orientation, and competitor orientation were found to have a positive effect on product/service competitiveness. It can be said that market changes in product/service competitiveness, technology improvement capability, target market analysis, etc. meet the objectives of most research projects, such as the success of new products/services. In addition, product/service competitiveness was found to have a positive effect on the success of new products/services. It can be seen that R&D capability has a positive effect on the success of new products/services and plays an important role in business expansion of SMEs. From this analysis result, it was found that the organizational orientation and R&D capability of a company have a positive effect on the success of new products/services. Based on the results of this study, implications were presented on the factors that a company must have for the success of new products/services.

A Study on Population Capacity in Jeju by Contingent Valuation Method (조건부가치추정법을 활용한 제주지역 해외수용력 연구)

  • Ho-Jin Bang;Young-Hyun Pak;Jang-Hee Cho
    • Korea Trade Review
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    • v.45 no.4
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    • pp.137-152
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    • 2020
  • The increase in national income, the expansion of transportation network, the increase in leisure time, and the influx of foreign tourists in the era of internationalization, the influx of the outside population of Jeju region increased rapidly until 2020. However, the corona 19 (Covid-19) incident that began in January 2020 has hit the entire industry, and the tourism industry in Jeju has also been greatly damaged. However, in the second half of 2020, with some calming of the Corona 19 situation and difficult to leave overseas, the number of visitors to Jeju Island is increasing again as Koreans choose Jeju Island as their domestic tourism. This study analyzed the capacity of Jeju's external population based on the Contingent Valuation Method, and based on this, attempted to suggest policy recommendations for Jeju. The size of accommodations such as the density of visitors, toilets, and rest areas were excluded from consideration, and the level of securing the parking lot already exceeded the capacity, and the rate of securing the parking lot was 93.4%. In the case of accommodation, the total number of available rooms is 88,691, even if one guest per room is assumed, which is 32,372,215 per year, which is sufficient in terms of visitor capacity. To analyze the aspects of psychological capacity, this study analyzed whether the residents are feeling psychological discomfort through three methods of road congestion, garbage disposal, and sewage treatment through Contingent Valuation Method. However, the inconvenience caused by the increase of visitors and the effect of continuous population influx is working in combination, and it has the limitation that the effects of these independent factors cannot be specifically separated. As a result of the study, discomfort has already been recognized in terms of psychological capacity among the factors of capacity, and it was estimated that a cost of about 45 billion won per year was incurred as a result of deriving psychological costs through Contingent Valuation Method. In the future, a policy review is needed to resolve or maintain the perception of this discomfort through continuous management. Accordingly, it is necessary to recognize that the increase of visitors leads to the psychological discomfort of the residents, and to seek a policy alternative that can simultaneously increase the number of visitors and the comfort of the residence.

The Effect of Smart Oreder Service on Satisfaction and Continuous Use Intention: The Moderating Effect of Personality Type (스마트 오더 서비스가 만족도와 지속사용의도에 미치는 영향: 성격유형의 조절효과)

  • Yea Ji Yeon;Cheol Park
    • Information Systems Review
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    • v.24 no.2
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    • pp.41-66
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    • 2022
  • With the development of IT, mobile apps and the expansion of contactless services due to COVID-19, "smart orders" have recently been activated in the food and beverage service. Even in recent years, when sales have declined, the number of orders made by smart orders has been steadily increasing, and this ordering method can accumulate customer data, enabling effective customized services in the future. In the present study, satisfaction with smart orders and continuous use intention were studied based on the technology acceptance model (TAM). And it focused on whether there is a difference in personality when using smart orders. For this purpose, a survey was conducted on 317 smart order users, and the hypothesis was verified by structural equation model analysis. Perceived benefits had a significant effect on satisfaction; also, satisfaction had a significant effect on continuous use intention. There is a significant disparity between introvert and extrovert type. As a consequence, the introverted type has a greater intention to perceive usefulness of smart orders and continuously use them. These results suggest that the customer's personality type should be considered in future customer customization strategies.

The Effects of Field Trips on Middle School Students' Preference and Awareness of Science Museum (현장학습을 통한 중학생들의 과학관 선호도 및 인식 변화)

  • Chang, Hyun-Sook;Choi, Kyung-Hee
    • Journal of The Korean Association For Science Education
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    • v.26 no.3
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    • pp.330-341
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    • 2006
  • This study investigated whether science museum field trips over a duration of 7 months would effect student preference and awareness of science museums. 32 eighth and ninth graders were sampled from a middle school in Seoul and asked about their preference, awareness and the effect of the science museum visits both before and after a field trip. Findings showed a preference for science museums which dealt with themes and topics of student interest. After a field trip, student responded that science museums were information providers which yielded opportunity to explore forthcoming science feats, science in everyday life, developmental histories of science and technology, science-related news, social issues, and science rationale. Even though science museums in Korea leave much to be desired in terms of quantity and quality, field trips were positively received by students. This reception and its usefulness implied that expansion publizing and active use of formal/informal education relating to science museum facilities need to be top-priority business.

Failure Envelope of Suction Caisson Foundations in Clay Subjected to Combined Loads (점성토 지반에 시공된 석션 케이슨 기초의 파괴포락선 산정)

  • Kang, Sangwook;Lee, Donghyun;Jung, Donghyuk;Han, Taek Hee;Ahn, Jaehun
    • Journal of the Korean Geotechnical Society
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    • v.40 no.2
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    • pp.95-103
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    • 2024
  • The global increase in population and subsequent scarcity of terrestrial living spaces necessitates exploration of alternative habitats. Research into the development of underwater living areas provides promising avenues for the expansion of human living spaces and the use of marine environments. This study focuses on the failure envelope of suction caisson foundations subjected to combined loads in a marine setting, utilizing finite element analysis. The foundation is assumed to be embedded in clay characterized by a linear increase in undrained shear strength with depth, employing the von Mises constitutive model for the clay. The resulting failure envelope is represented as a tilted ellipse which expands as the undrained shear strength increases, maintaining a constant ratio between the major and minor axes. A comparative analysis of two suction caisson foundations with varying length-to-diameter ratios revealed that this ratio influences the dimensions of the failure envelope, with a tendency for the major-to-minor axis ratio to increase as the length-to-diameter ratio increases. These findings are critical for the design of suction caisson foundations in offshore environments.

A Study on the Work Adaptation of Re-Employed Industrial Accident Workers (재취업 산재근로자의 직장 적응 결정요인 분석)

  • Kye-Won Choi;Young-Min Lee
    • Journal of Industrial Convergence
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    • v.22 no.3
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    • pp.1-12
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    • 2024
  • The purpose of this study is to categorize the adaptation of re-employed injured workers to the workplace and to explore the determinants that affect their adaptation to the workplace. In order to categorize the group of re-employed injured workers to adapt to the workplace, a latent profile analysis was conducted on 522 injured workers. As a result of the analysis, the workplace adaptation group was classified into three types: environmental dominant adaptation type (group 1), work-oriented adaptation type (group 2), and 'environmental adaptation type (group 3). In addition, as a result of conducting a mixed regression analysis to analyze the factors influencing their adaptation to the workplace after industrial accident, it was found that the work-oriented adaptation and environmental adaptation adaptation type were lower than the environmental dominant adaptation type. In addition, it was confirmed that educational background and self-esteem are factors that have an important influence on the adaptation of injured workers to the workplace. Based on the results of this study, it was suggested that the system needs to be supplemented in two aspects: customized support for individuals in the pre-reemployment stage and the employment environment after re-employment in order to increase the adaptation of injured workers to work. Specifically, there are consideration of the development and spread of rehabilitation programs and the expansion of the scope of subsidies that were paid only to the original business owners. Through this study, it is expected that more targeted policy measures can be prepared for re-employed injured workers.

A Study on the Effect of China House Prices on Bank Loan and Management Stability (중국 부동산 가격이 은행대출 및 경영안정성에 미치는 영향)

  • Bae Soo Hyun
    • The Journal of the Convergence on Culture Technology
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    • v.10 no.1
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    • pp.153-158
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    • 2024
  • Recently, concerns about the spread of credit risk in China's real estate market are gradually increasing. Therefore, it is very meaningful to diagnose the management stability of Chinese commercial banks. This study analyzes the impact of housing prices on the loan proportion and management stability of Chinese commercial banks. In addition, we classify Chinese commercial banks according to size and verify whether there are differences in loan proportion and management stability. If there is a difference by scale, the effect of interaction with housing price changes is also verified. The analysis results are summarized as follows. First, it was found that as the housing price growth rate increases, the proportion of loans from Chinese commercial banks increases. Second, as the rate of increase in housing prices and the proportion of total loans increases, management stability appears to decrease. Third, larger banks were found to have a higher proportion of loans, and smaller banks were found to have greater management stability. The results of this analysis show that Chinese commercial banks' aggressive expansion of their loan proportion is lowering their management stability. Therefore, it is necessary to adjust the loan ratio to the appropriate size level and secure stability with differentiated strategies according to the loan ratio

The impact of cement industry on regional change (시멘트공업이 지역에 미친 영향)

  • ;Chin, Yong-Cheol
    • Journal of the Korean Geographical Society
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    • v.30 no.1
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    • pp.16-34
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    • 1995
  • This study aims to analyze the impact of cement industry on region change. For this study Maepo-Eub was selected as study area, where three cement factories are located. The data for analysis were obtained from interviews, questionaire surveys and the employee list of each cement factory. The analytic procedures for this study are as follows: 1) The change of regional employment was analyzed by development was industry in terms of the permanent address, education level, occupational status of the employee. 2) The degree of population growth are analyzed by developmental staae of the industry. Some conclusions from this study follows: 1) As these cement factories were built at Maepo in the 1960's, there were plenty of employment opportunities. Thus many technicians and workers flooded in Maepo-Eub. in the 1970's with the expansion of production facilities therewere much more immigrants to the industrial region, while there were outflow in the neighboring rural areas. In the 1980's the opportunity for the employment of cement factories have been decreased due to the introduction of the automation processes and larger, sized machines. Among the employee of three cement factories the native of Chungcheongbukdo (65%; in them Danyang 52%, Jecheon 32%) is dominant, the second is from Kangwon-do (13%), and the third is from Kyungsangbuk-do (11%) adjacent to Chungcheongbuk-do. It means that there are more employment opportunity in the near places of cement factories. 2) In the period of 1960's study area had experineed rapid social increase in population by the development of cement industry. That is, cement industries created new job opportunities and attracted large population concentration into this area. In the period of 1970's the population of the industrial region have increased continuously, while the population of neighboring rural areas have decreased. In the period of 1980's the population of Maepo decreased steadily because of decrease of labour forces through automation and commuting. Thus in the early stage of idustrial development large population concentrated in the neighboring villages of cement factories, and formed residential areas, commercial areas and service areas. As agricultural and was encroached, rural people left their regions to live in the more convenient suburbs. 3) People engaged in cement industry think that cement industry has a favorable influence on regional development, such as creating job opportunity, raising income level, developing business and service sector, and leading high economic growth. While farmers and some people think that cement industries as a pollution causing factories have a harmful influence on regional development, sucha as injuring the crops, causing environmental pollution, and being harmful to health. If pollution problems are solved, I think Maepo will play an important role as a regional center which can offer employment opportunity, business and service function to pheripheral rural areas, and raise a income level.

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A Study on the Determinants of Perceived Social Usefulness and Continuous Use Intention of the Internet of things in the Public Sector (공공부문 사물인터넷의 지각된 사회적 유용성 및 지속사용의도 향상을 위한 결정요인에 관한 연구)

  • Yoon, Seong-Jeong;Kim, Min-Yong
    • Management & Information Systems Review
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    • v.36 no.1
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    • pp.115-141
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    • 2017
  • This study is to find the key factors of the Internet of Things for development in public sector. In previous studies, it is said that Internet of Things can work digital system without human operation and gives a lot of outputs(information) users. Generally, people are a subject of operating digital system in traditional way, while people are an object on the internet of things. In other words, it is possible to work digital system with only networking from things to things. After all, it is reported that these advantages of the Internet of Things make possible to reduce social costs significantly in public sector. However, despite the strengths of the Internet of Things, there is a specific user acceptance of the technology factor for the Internet of Things rarely. It means that developing of the Internet of Things only focuses on the final purpose. If the focus on development meet this purpose, the user is ignored for the specific reason that using a technique. As a result of this, many users gradually decrease the continuous using of the Internet of Things. Thus, in this study, we need to find what critical factors should reflect to the Internet of Things in public sector. To find this result, there is no choice to use Technology Acceptance Model(TAM). Many researchers have proved that Technology Acceptance Model is valid through the four process in model introduction, confirmation, expansion and refinement from 1986 to 2003. The results of this study showed that the result explanatory power of Internet of Things in public sector is the most important factor affecting only perceived social usefulness and ease of use. Finally, it can be seen that the user has a positive attitude toward use, which has a positive effect on the intention to use continuously. The implications of this study are summarized as follows: When the public Internet of Things service is provided, it means that the user can easily understand the result, and when the person and the object communicate the result to each other, they should be able to communicate with each other. This means that a lot of user effort is needed to understand the outcome of the public Internet of Things being provided.

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