• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.399-409
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• 2022

The purpose of this study is to examine the role of virtual community participation and engagement in the brand decision by building community and brand trust. In this study, two theories (Social Capital Theory and Theory of Collective Action) were tested. Both theories were linked based on existing literature, and empirical evidence was obtained through testing hypotheses. Students from five prestigious Pakistani business schools provided a total of 849 replies. The measurement model and structural model were both analyzed using the partial least square (PLS) method. The findings show that virtual community engagement and participation have a positive and significant impact on virtual community trust. Although virtual community engagement has a positive effect on brand trust, we found no evidence of a link between virtual community participation and brand trust. Later, these trusts positively influence brand choice. This study has several managerial implications. The suggested model of this study helps managers to get customers' insight, choose the right target market, and set integrated marketing communication strategies besides social media marketing strategies. The study represents a new perspective of consumer behavior that helps to understand how a customer behaves in virtual communities to trust and take the final decision to purchase.

• Journal of Korean Institute of Industrial Engineers
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• v.23 no.3
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• pp.545-557
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• 1997

This paper deals with dynamic optimal pricing for new products by a firm which maximizes the discounted profit stream of it's own in a duopoly. The problem is constructed as differential games and dynamic optimization theory. Cost is assumed to decline as time goes on. A modified customer's choice model is formulated as a diffusion model and we solve a dynamic optimization problem by adopting the diffusion model. Since this paper focus on deriving real prices not showing a time trend, we formulate recursive form equations of costate variables(shadow price) and a simultaneous equation of price. Hence we derive a dynamic optimal pricing model for using in real market. In particular, we construct a dynamic optimal pricing model in the case that there are benefits from not only new subscribers but also previous subscribers. We analyze instant camera market in U.S.A(1976-1985) by utilizing the above model.

• The Journal of Information Systems
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• v.27 no.1
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• pp.43-65
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• 2018

Purpose The emergence of mobile applications has simplified our life in various ways. Regarding tourism activities, mobile applications are already efficient in providing personalized tourism related information and are very much effective in booking hotels, flights, etc. However, there are very few studies on classifying the actual service requirements and improving the customer satisfaction in mobile tourism applications. The purpose of this study is to implement a practical mobile tourism application. To serve the purpose, we classify and categorize the service requirement of mobile tourism applications in Korea. We employed Kano model and analytic hierarchy process (AHP). Specifically, we conducted a focus group study to find out the service requirements in mobile tourism applications. Design/methodology/approach The data for this study were collected from Koreans and Foreigners who has the experience using mobile tourism applications. Participants needed to be familiar with mobile tourism applications because such users may be more aware of the mobile tourism applications services. We analyzed 147 valid data using Kano model and conducted AHP analysis on five experts in the field of tourism using Expert Choice software. Findings In this paper, we identified the 17 service quality requirements in the mobile tourism applications. The results reveal that the service requirement such as Geo-location map, Multilingual option, Compatibility with different operating systems were unavoidable service, absent of such requirements leads to the dissatisfaction. Based on the results of the integrated application of both Kano model and AHP analysis, this study provide specific implications for improving the service quality of the mobile tourism applications in Korea.

• Journal of Distribution Science
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• v.14 no.11
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• pp.61-73
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• 2016

Purpose - Marketing scholars have developed various types of mathematical models for describing marketing phenomenon, because there is no single model comprehensive enough to incorporate all the relevant marketing phenomena. This study tries to summarize the behavioral foundations and the mathematical derivations of the most widely used marketing models and discusses their strategic implications. This study selected four representative marketing models: multinomial logit(MNL) model, elimination-by-aspects(EBA) model, Hauser and Shugan model and Bass diffusion model. Especially, this study focuses on Hauser and Shugan(1983)'s Defender model and discusses the model's behavioral foundation and its implications. Research design, data, and methodology - Of the four selected model, the multinomial logit model is selected as the basic normative model and the other three models are described as descriptive models in contrast. Starting the discussion from the multinomial logit model, this study explains what important strategic variables are incorporated in each of the four models. The IIA(independence of irrelevant alternatives) axiom and Luce choice model is also discussed in relation to the multinomial logit model. The concept of 'efficient frontier' is discussed in relation to Hauser and Shugan's model. Graphs and tables are used to represent the key implications. No empirical study is included. Results - The analyses of the mathematical marketing models are shown to be very useful in understanding the essence of positioning strategy. The multinomial logit model implies the importance of increasing utility or consumer preference level. The EBA model implies the importance of lowering the inter-brand similarity and dominating the competitors. Hauser and Shugan model implies the importance of considering customer heterogeneity distribution in selecting the target market. Conclusions - It is shown that the concepts of 'efficient frontier' is useful in understanding the effectiveness of positioning strategy. Market positioning can be understood as occupying some place on the efficient frontier. The important strategic implications can be summarized as follows: Always try to increase customer preference by providing what they value, and differentiate from competing alternatives as much as possible. The best positioning strategy is to dominate all the competitors and the worst is to be dominated by the competitors.

• The Korean Journal of Franchise Management
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• v.14 no.4
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• pp.17-33
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• 2023

Purpose: This study divides choice attributes that can help strengthen the competitiveness of traditional markets into product, price, personnel, and physical evidence. This study also examines which choice attributes affect customer value perception, satisfaction, and loyalty. Research design, data, and methodology: The data were collected from 542 traditional customers aged 20 or older who frequently visit traditional markets across the country and analyzed using the Smart PLS 4.0 program. The survey was conducted with the help of an online survey company for a total of 14 days from April 7, 2023 to April 20, 2023. Result: First, product, price, and employee quality have a positive impact on utilitarian and hedonic value, but physical evidence does not. Second, product, price, and employee quality have a positive impact on hedonic and hedonic value. Second, utilitarian value has a positive impact on satisfaction and revisit intention. Third, hedonic value has a positive impact on satisfaction, but does not on revisit intention. Lastly, satisfaction has a positive impact on revisit intention. Conclusions: Based on the S-O-R model and the theory of consumption value, this study proposed and examined an integrated framework in which satisfaction leads to revisit intention through selection attributes acting on perceived value.

• Journal of the East Asian Society of Dietary Life
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• v.24 no.4
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• pp.457-464
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• 2014

This study investigated the effects and interrelationship on sensual behavior and wine information sources in selection attributes of wine. Selection attributes of wine were categorized into four variables: sensual behavior, recommend information, label information, and wine information. The study showed that for sensual behavior variable, "taste" was the most influential item as compared to "food harmony", "mood harmony" and "partner's choice". For recommendation information, label information and wine information, "specialist", "grape varieties" and "brand" had the most significant effects. The study performed factor analysis on sensual behavior and wine information sources. The cumulative variance was 74.197%, implying that all four variables incorporated appropriate items. In the reliability analysis, all four variables showed Cronbach's ${\alpha}$ values above 0.6. In the analysis of the causal relations using a structural model, the effects of customers' sensual behavior on wine information sources was further investigated. The model verified that taste, food harmony, mood harmony and partner's choice, which are items of sensual behavior, had significant impacts when choosing wine. Sensual behavior influenced all wine information sources, which customers utilize in decision-making. Among these sources, sensual behavior had the biggest effects on recommendation information, followed by wine information and label information.

• Journal of Digital Convergence
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• v.8 no.1
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• pp.109-120
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• 2010

Mobile phone-related industries have been mainly concentrated on attracting the new customers and increasing the market share such as for the aggressive marketing activities, but it is the time to find an effective strategy to preserve existing customers since the mobile phone market had already reached the saturation. In this study, the properties of mobile phone that influence on the choice of handset and telecom company were analyzed. General properties of respondents were explored and the mobile phone properties were grouped by common factors. And analyzed the effect of factors on customer satisfaction with structural equation model. 10.4% of respondents are used their handset more than two years and 48.7% wanted to purchase other manufacturer's handset if they repurchase mobile phone. These results might come form the fact that the life cycle of mobile phone become shorter by the heating competition in mobile phone market and, to some degree, the influence of smart phone which recently become globally popular. Four factors, 'Hardware Quality', 'Practicality', 'Convergence Functions' and 'Level of Awareness', are induced from the mobile phone properties. In Structural Equation Model analysis, 'Hardware Quality' and 'Practicality' have significant and positive effects on Customer Satisfaction. But, 'Awareness' such as brand and trend appeared quite less influence on the customer satisfaction.

• Journal of Distribution Science
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• v.20 no.2
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• pp.11-18
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• 2022

Purpose: The purpose of this paper is to investigate the influence of brand equity on customer purchase decision (CPD) of products for retailers distribution (RB) in Ho Chi Minh city, Vietnam. There are five elements in the brand equity model such as brand awareness, brand association, brand loyalty, perceived quality, and pricing policy. Research design, data and methodology: Qualitative methodology was used for exploring the research model and variables. The survey was conducted to collect data from 251 respondents who bought products at RB in Ho Chi Minh city, which is based on a Likert scale. The collected data were analyzed with the reliability of the scale, exploratory factor analysis, and research hypothesis testing by SPSS 22. Results: The results obtained revealed that brand awareness, brand association, perceived quality, and pricing policy have a significant impact on CPD for RB. Furthermore, the results showed that perceived quality is the most significant component in influencing CPD at retailers. Conclusions: From the research results, some management implications that RB should focus on are perceived quality, choice of pricing policies and strategies, brand building and development to attract more customers as well as enhance its image to improve customers' purchasing decisions of products at retail distributors chain.

• The Journal of Industrial Distribution & Business
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• v.10 no.10
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• pp.45-51
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• 2019

Purpose - The purpose of this study was to propose a win-win development plan for not only suppliers of delivery applications but also traditional market vendor companies and delivery riders by analyzing existing delivery models and presenting a new delivery model to enhance competitiveness of the traditional market using delivery apps. Research desgin, data, and methodology - Specifically, small retailers, such as traditional markets and supermarkets, presented a compromised delivery model that utilizes the platform of specialized delivery app service providers for order reception, and that the delivery is delivered by delivery systems jointly hired by Vendor companies, such as franchising companies. To validate the significance of the trade-off delivery model, a cost-benefit analysis was conducted by those involved in the delivery application. Results - From the perspective of suppliers of specialized delivery applications, it is analyzed that the use of specialized delivery applications in traditional markets will be a new market opportunity for service providers to achieve increased sales. It is expected that consumer choice and satisfaction will be increased as convenience and accessibility of traditional market businesses that were available only through direct visit from the user side of the delivery application will be expanded. From the standpoint of delivery application franchises, it is analyzed that they can seek to increase sales and increase customer service as well as ease labor cost burden due to joint employment of delivery riders. The delivery rider will be able to seek to improve customer service due to job security, wage stability, risk reduction and overheated competition due to direct employment. Conclusion - In conclusion, the compromised delivery model solved the problems raised in the preceding study conducted on delivery application suppliers, users, franchises, and riders to establish that it could be a strategic alternative to increasing sales and expanding detailed rights for the self-employed in the traditional market, which are experiencing difficulties in management. However, the adoption of a compromise delivery model requires social consensus from those involved in the delivery application and requires legal, institutional and policy support, which will require continued follow-up research on the delivery model in the future.

• Asia Marketing Journal
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• v.13 no.4
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• pp.191-212
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• 2012

With the introduction of the Capital Market Integration Act in 2009, the new competitive scope and paradigm is opened in Korean financial services market. The change of financial industry and institutions will lead to the behavioral change of customers who consume and choose financial services. While researches from the financial perspective have been conducted, works from the marketing or customer oriented approach has long been relatively ignored. The purpose of this study is to investigate influencing factors and process of financial services customers' choice behavior. More specifically, the main theme is how to enhance customer brand loyalty and purchase intention through the perception of overall quality of the service product. An integrated conceptual model including antecedents, mediating variables and consequences is established through comprehensive literature reviews of extant works on environmental change, customer behavioral change and choice behaviors. Hypothesis testing is done with SEM analysis. According to the results, the attractiveness of financial product, the reputation of financial firm, and self-brand image congruence among exogenous variables make a positive effect on perceived overall quality. And perceived overall quality has a significant effect on brand loyalty.