• The Korean Journal of Franchise Management
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• v.14 no.4
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• pp.67-83
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• 2023

Purpose: The beauty market is growing rapidly and becoming more competitive as new shops enter the market and offer similar products and services. The way for industries such as beauty shops to succeed in market competition is to understand customer needs and provide a marketing mix appropriate for those needs. Research design, data, and methodology: The survey was conducted for a total of 4 days from October 4 to October 7, 2023, and a total of 2,431 copies were distributed and 463 copies were returned. Excluding 2 copies with insincere responses, 461 copies were used for analysis. The data were analyzed with SPSS 25.0 and SamrtPLS 4.0. Result: Product, price, promotion, people, and physical evidence influence perceived value, but place and process didn't. Product, process, and physical evidence influence reputation, but price, location, promotion, and people didn't. Perceived value influences revisit intention but did not reputation. Reputation influences revisit intention. Conclusions: First, beauty shops must develop beauty services that can satisfy customers' needs. Second, beauty shops must continue to invest in external facilities and interior design. Third, intangible service processes can help the beauty shop's reputation. Fourth, beauty shops need to maintain a balance between price and perceived value so that customers can be satisfied with the service experience.

• Korean Journal of Heritage: History & Science
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• v.55 no.4
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• pp.296-312
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• 2022

This paper examines the concept and process of heritagization, as well as other measures for the value enhancement of food culture as heritage, through the case of the gastronomic meal of the French, which has a long history as a socially constructed heritage. Heritage refers to what a society perceives as worthy of being transmitted. Thus, a heritage is something that a society or group chooses to preserve and that represents its identity. In the 19th century, France began to designate and protect heritage through a policy of preserving historical monuments, and heritage became both a social construct and creation with the purpose of preserving and enhancing values. Interest in heritage spread around the world with globalization, and has grown even greater since the 1972 UNESCO Convention. This interest has progressively extended to nature, urban landscapes and intangible cultural heritage. In 2003, the UNESCO Convention for the Protection of the Intangible Cultural Heritage was adopted, and this has strengthened the interest in intangible cultural heritage worldwide. Food-related heritage has been excluded from the list due to difficulties in establishing inscription criteria and concerns about the potential commercialization of heritage. However, in 2010, the food cultures of the Mediterranean, Mexico, and France were inscribed on UNESCO's Representative List of the Intangible Cultural Heritage of Humanity, which prompted interest in food culture and efforts to inscribe the food heritage of a number of other countries, including Korea. France has a long history of interest in gastronomy as a cultural heritage and part of its national identity. Efforts to preserve and popularize gastronomy as a part of the national identity and heritage have been made at both the private level, by gourmets and associations, and at the governmental level. Through these efforts, the culture of gastronomy as a heritage has been firmly established through theoretical discussion, listing of food-related heritages, and policies. Sustainable development of the heritage is pursued through certain ongoing institutional approaches, including the City of Gastronomy network, the National Food Program, and the promotion and labeling of the Year of the French Gourmet.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.26 no.7A
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• pp.1275-1283
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• 2001

The purpose of this paper is to test whether prices of mobile communication service reflect their varying degrees of call quality, controlling for other service attributes. As, in fact, service is intangible goods difficult to measure its value, this paper makes use of econometric model, hedonic price analysis. Hedonic price analysis, has ever been applied in public or environmental economics, is employed and produces estimates of the prices (or the contributions toward the total price) for each characteristic. This paper applied hedonic technique to the value measurement of a service property for the use of Korean mobile communication. This paper uses actual transaction prices of mobile communication service to determine whether or not the market functions in pricing call quality of mobile communication service. Finally, this show that the willingness to pay of consumer increases as call quality increases and so market makes prices on call qualities. Thus, major concern in this paper is about value measurement o service quality, and also suggest of the possibility to determine call quality value (or price) of mobile communication service.

• Journal of Distribution Science
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• v.17 no.1
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• pp.89-94
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• 2019

Purpose - In recent digital information society, the most important factor of to increase the firm value of the distribution company is not the activity to increase the sales through the general advertisement of the unspecified majority by purchasing the finished product, but to grasp the needs of the consumers and to develop a new distribution platform that connects producers and consumers directly through consumer-tailored advertisements centering on e-commerce. Therefore each company in the distribution industry is spending a lot on research and development investment to innovate the distribution technology and distribution system, and the research and development investment expenditures can affect firm value. The purpose of this study is to analyze the impact of research and development investment expenditures in the distribution industry on market value of the firm. Research design, data, and methodology - As a research method, the sample firms are those which are listed on korea stock exchange market from 2011 to 2017 and the research model is Ohlson(1995) model, which is a representative valuation model using accounting information. This study analyzes the effect of distribution company's research and development investment expenditures and advertising expenditures on market value of the firm Results - The results of empirical analysis show that research and development investment expenditures for developing new distribution technology and advertising expenditures for promoting sales in the distribution company are all positively related to the market value of firm. Therefore, in describing market value of the distribution company, it is shown that the research and development investment expenditures and advertising expenditures together with the net asset and net profit are the important accounting information that explains the market value of firm. This result show that investment expenditures on research and development for the innovation of distribution technology of distribution company creates intangible intellectual assets and increases market value of the firm. Conclusions - The result of this study shows that research and development investment expenditures for the new distribution technology as well as the spending for the advertisement in the future is a very important investment expenditures that can increase the market value of the distribution company.

• Journal of Service Research and Studies
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• v.6 no.3
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• pp.29-40
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• 2016

Since the late 20th century, there has been much effort to improve the market value of media contents which are commercialized in a digital format, by fusing digital data of video, audio, numerals, characters with IT technology together. Then by what criteria and methodologies could the market value for the drama "Sons of the Sun" or the animated film 'Frozen', often referred to in the meida, be estimated? In the circumstances there has been little or no research on the valuation framework of media contents and the status of their valuation system development to date, we propose a practical valuation models for various purposes such as contents trading, review of investment adequacy, etc., by formalizing and presenting a contents valuation framework for the four types of media of movies, online games, and broadcasting commercials, and animations. Therefore, we develope computational methods of cash flows which includes production cost by media content types, provide reference databases associated with key variables of valuation (economic life cycle, discount rates, contents contribution and royalty rates), and finally propose the valuation framework of media contents based on both income approach and relief-from-royalty method which has been applied to valuation of intangible assets so far.

• The Korean Journal of Franchise Management
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• v.11 no.3
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• pp.7-18
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• 2020

Purpose: Recently, information on 'Delicious Restaurants (Mat-zip)' and 'Famous Bakeries' can be obtained through various media such as TV, Internet search, and SNS, and the culture of finding and sharing them has become a trend. Since PZB's SERVQUAL, there have been many studies measuring service quality, leading to hotels, restaurants and coffee shops. These studies of service quality include product quality in the service quality dimension. Hotels, restaurants, and coffee shops are provided with intangible services while customers visit and stay, but 'Delicious Restaurants (Mat-zip)' and 'Famous Bakeries' often stop by to buy products and return home. Therefore, the study on the effect of quality on customer behavior on 'Delicious Restaurants (Mat-zip)' should consider product quality separately. In this study, we want to study how each quality element affects the perceived value and response of customers by separating product quality and service quality. Research design, data, and methodology: This study tested the structural model of how the quality of products and services of famous bakeries affect customers' perceived value and response. As the quality factors, products, tangible services, and employee services were adopted, and perceived values adopted utilitarian and hedonic values, and customer responses adopted customer satisfaction and behavior intention. For this study, 203 survey data with experience using famous bakeries were analyzed using SPSS 22.0 and AMOS 22.0. Result: The research results are as follows. First, product quality positively influenced utilitarian value, hedonic value, and customer satisfaction, tangible service quality positively influenced utilitarian value, and employee service quality positively influenced hedonic value. Second, utilitarian value had a positive effect on behavioral intention, and hedonic value had a positive effect on customer satisfaction. Conclusions: In a famous bakery, it is basic that product quality should be given priority, and for customer satisfaction, employee service quality is half as important. In addition, for Behavior Intension (revisit by the customer), in addition to product quality, the quality of tangible services and employee services should be maintained at a quarter level.

• Journal of the Korean Society of Costume
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• v.66 no.2
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• pp.32-44
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• 2016

Having set a trend for luxury fashion brand markets since the $17^{th}$ century, France has established the norms and the forms of the fashion business. In addition, it has maintained its status as a leading fashion power by discovering economic value from the intangible value of design and brand, and developing fashion into a high value-added industry. This paper aims to examine the socio-cultural factors that have exerted a positive influence on the formation of "fashion power" in France from a historical perspective. It will focus on four major external historical factors that made France the top fashion power: insights and innovation of French leaders as well as their constant concerns and efforts for the promotion of fashion, a tradition of experimental cultures and arts, open and the public-centered social environment and an atmosphere of cherishing the values of creation, and the establishment of a legitimate system that protects them.

• Journal of Korea Society of Digital Industry and Information Management
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• v.8 no.2
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• pp.199-211
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• 2012

There have been studies to evaluate valuation of firms by using patents in various ways. Also, the theory that value of patents helps enterprise's growth is valid in economics. However, when evaluating the value of the company, through the patent evaluation has not been used. Because of previous studies researched relation between patents and firms only at certain points. To solve this problem, this study intends to analyze lag between patent and profitability of the firms. In this study, we classified top 100 software firms in the United States through PBR, PER and value of intangible assets by using cluster analysis. And we applied Almon's distributed lag model to each cluster to find out lag between patent and profitability of the firms. As a result, in the cluster of more valuable companies, patents have an effect on profitability of the firms at regular lags. This study indicates that the patents are an important indicator to assess companies.

• Journal of Korea Game Society
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• v.1 no.1
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• pp.80-87
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• 2001

Overseas literatures on the subject discussed so far have used the samples of tangible products and domestic studies have not limited the ranges of respondents while discussing the characteristics of the products. In the meanwhile, this paper has chosen intangible IT products as its research subject because IT area is an emerging industry in the 21st century. In addition, it has also limited the research samples to the buyers of the game software package products in order to enhance the reliability of respondency and the involvement. The results can be summarized as follows : Firstly, involvement acts as a moderator in the fair price and value of product as well as willingness to buy. Secondly, involvement acts as a moderator in the highest price and value of product as well as willingness to buy. Finally, involvement acts a moderator in the lower price and value of product.

• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.119-135
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• 2018

Currently, Korean firms are making a lot of effort to invest in research and development (R&D) by spending a lot of development costs in order to cope with the 4th industrial revolution. On the other hand, the capital market of Korea, which is the main source of funding, has caused a lot of cost of capital for firms by its reorganization mainly with safe assets in the experience of foreign exchange crisis at the end of 1997, the sub-prime mortgage crisis in 2007 and the bankruptcy of Lehman Brothers in September 2008. Thus, this study empirically analyzed the effect of development expenses on credit rating and firm value. The credit rating was measured by commercial paper(CP) credit rating which is sensitive for investors in terms of risk because it is issued only by the credit of the firms. Firm value was defined as Tobin's Q, which has been widely used in prior studies. The results of the analysis are summarized as follows; Firstly, development expenses did not affect credit rating. Development expenses are recognized as intangible assets for uncertainty of economic benefits and long-term investment. Thus, it seems that there is no effect of development expenses on CP credit rating as CP credit rating is evaluated by short-term credit rating.