The purpose of this research is to study the efficiency of the Internet market, not provided to consumers by the existing traditional market. This research examines whether consumers properly understand the efficiency of the Internet market. The result from consumers perception on the efficiencies in the two market are as follows. First, consumers perceived the traditional market as having more product alternatives compared to the Internet market. Second, consumers perceived that the Internet market was more efficient in price dispersion and price change Third, the Internet market was considered more efficient in searching and travel time, and in the search cost. Finally, the traditional market was considered as a better provider of the information about product function, feature, reality, usage and service compared to the Internet market. On the contrary, the Internet market turned out to be more effective in providing product information, price information and trading information compared to the traditional market. Therefore consumers perceived the traditional market of having more information.
This paper is concerned with proposing a new market strategy for the segmented markets of the Internet stock trading. Many companies are providing various services for customers. However, the internet stock trading market is glowing rapidly absorbing a wide variety of customers showing different tastes and demographic information, so that it is necessary for us to investigate specific strategy for the segmented markets. General strategy so far in the Internet stock trading market has been to lower transaction fee according to the market trend. As the advent of rapidly enlarging market, however, more specific strategies need to be suggested for the segmented markets. In this respect, this paper applied a self-organizing map (SOM) to 83 questionnaire data collected from the Internet stock trading market in Korea, and obtained meaningful results.
With the progress of Internet and e-commerce, there have been many researches on the market efficiency of the Internet markets using real price data. Contrary to the common expectations by many economists, most of the previous researches have fatted to prove that the Internet market is more efficient than the conventional market. This paper empirically analyzes the pricing behavior of Internet and conventional retailers in South Korea. We have collected real price data on CDs and TVs from various types of retailers, from which we have analyzed three aspects of pricing behavior : price level, price change over time, and price dispersion across the retailers. We have found that the average prices of CDs and TVs at the Internet retailers are lower than those at the conventional retailers. We have also found that there is a close association between the behaviors (e.g., magnitude and timing of changes) of TV prices at the Internet retailers and those at the conventional retailers. It has been observed that the range of the CD prices at the internet retailers is less than a half of the range at the conventional retailers, which can be considered as an evidence of a relatively stronger price competition at the Internet market compared with the conventional market.
Internet commerce has been growing at a rapid pace for the last decade. Many firms try to reach wider consumer markets by adding the Internet channel to the existing traditional channels. Despite the various benefits of the Internet channel, a significant number of firms failed in managing the new type of channel. Previous studies could not cleary explain these conflicting results associated with the Internet channel. One of the major reasons is most of the previous studies conducted analyses under a specific market condition and claimed that as the impact of Internet channel introduction. Therefore, their results are strongly influenced by the specific market settings. However, firms face various market conditions in the real worlddensity and disutility of using the Internet. The purpose of this study is to investigate the impact of various market environments on a firm's optimal channel strategy by employing a flexible game theory model. We capture various market conditions with consumer density and disutility of using the Internet.
The study examined the characteristics of internet shopping mall sites including on-line market places and integrated internet stores from a perspective of consumer protection. Specifically, the study investigated 1) whether sufficient information is provided on the internet shopping mall sites, 2) whether shopping mall sites abide by internet advertising principles, and 3) specific examples of consumer misleading potentialities from internet shopping sites. Further, on-line market places and integrated internet stores were compared based on their informativeness and potential consumer misleading factors. Total 50 shopping mall sites were analyzed for examining the types of information provided and consumer misleading factors. To verify study questions, descriptive statistics were used. For comparison between on-line market places and integrated internet stores, Chi-square test and independent-sample t-test were employed. The results of this study were as the following: First, not a few of the internet shopping mall sites did not provided important information such as safety and warrantees. Second, important disclosures were not noticeable on the web pages and distracting factors were frequently used. Third, integrated internet stores were desirable compared to on-line marketplaces based on informativeness and consumer misleading potentialities. As the result of this study, internet shopping malls need to advised to provide sufficient information and reduce potential misleading factors.
A great number of companies are currently examining the opportunities made available through the internet. This research aims to identify the factors that influence the adoption of the internet market. The innovation-IT-diffusion theory provide the theoretical foundation for this study. Seven factors were found to influence the adoption level of the internet market. They are top management support, cost efficiency, inclination toward new technology, absorptive capacity, institutional support, competitors move and customer pressure. Nonparametric test was used to test hypotheses. The results shows that top management support is the most important factor, and institutional support is not related to the adoption of the internet market.
Perhaps, one of the typical emerging markets drawing tremendous attention from not only business professionals but also policy-makers would be the mobile Internet services. In recent years many research institutes reported their predictions on the growth of the mobile Internet services market, announcing that the market would show explosive growth and replace the wired Internet service market rapidly. Unfortunately, however, the reality we are facing at present is quite different from their expectations. The realized share of the mobile services in Korea last year has turned out remaining only about one percent of the total network service revenue. What are the reasons for the gap between the prospects and the reality? Starting from this question, this paper attempts to explore the generic pitfalls of the traditional number-crunching methods adopted thus far for the forecast of newly emerging market trends, and present an alternative by introducing systems thinking to the mobile Internet service market as an example, followed by its rationale as a new tool for forecasting and some reasoning about why traditional methods are no longer appropriate.
In order to identify the antecedents of internet purchasing intention toward fashion items, this study examines shopping-related variables as both direct antecedents of internet purchasing intention, and as indirect antecedents of internet purchasing intention through online-related variables. Impulse buying and market mavenism were considered as shopping-related variables, whilst online interaction readiness and online consumer procrastination were considered as online-related variables. It was hypothesized that impulse buying and market mavenism not only directly influence purchasing intention toward fashion items, but also indirectly influence it through online interaction readiness and online consumer procrastination. Data were gathered by surveying university students in Seoul using convenience sampling. A total of 286 questionnaires were used in the statistical analysis. SPSS was used for exploratory factor analysis, and AMOS was used for confirmatory factor analysis and path analysis. The factor analysis of market mavenism, impulse buying, and online consumer procrastination revealed one dimension, whilst the factor analysis of online interaction readiness revealed two dimensions: 'online relationship' and 'internet role.' Tests of the hypothesized path proved that impulse buying indirectly influences internet shopping intention only through online consumer procrastination, whereas market mavenism influences internet shopping intention indirectly through both online interaction readiness and online consumer procrastination. The results will be useful for Internet shopping mall marketers and for future study.
Digital economy has grown rapidly so that the new business area called 'Internet business' has been dramatically extended as time goes on. However, in the case of Internet business, market shares of individual companies seem to fluctuate very extremely. Thus marketing managers who operate the Internet sites have seriously observed the competition structure of the Internet business market and carefully analyzed the competitors' behavior in order to achieve their own business goals in the market. The newly created Internet business might differ from the offline ones in management styles, because it has totally different business circumstances when compared with the existing offline businesses. Thus, there should be a lot of researches for finding the solutions about what the features of Internet business are and how the management style of those Internet business companies should be changed. Most marketing literatures related to the Internet business have focused on individual business markets. Specifically, many researchers have studied the Internet portal sites and the Internet shopping mall sites, which are the most general forms of Internet business. On the other hand, this study focuses on the entire Internet business industry to understand the competitive circumstance of online market. This approach makes it possible not only to have a broader view to comprehend overall e-business industry, but also to understand the differences in competition structures among Internet business markets. We used time-series data of Internet connection rates by consumers as the basic data to figure out the competition patterns in the Internet business markets. Specifically, the data for this research was obtained from one of Internet ranking sites, 'Fian'. The Internet business ranking data is obtained based on web surfing record of some pre-selected sample group where the possibility of double-count for page-views is controlled by method of same IP check. The ranking site offers several data which are very useful for comparison and analysis of competitive sites. The Fian site divides the Internet business areas into 34 area and offers market shares of big 5 sites which are on high rank in each category daily. We collected the daily market share data about Internet sites on each area from April 22, 2008 to August 5, 2008, where some errors of data was found and 30 business area data were finally used for our research after the data purification. This study performed several empirical analyses in focusing on market shares of each site to understand the competition among sites in Internet business of Korea. We tried to perform more statistically precise analysis for looking into business fields with similar competitive structures by applying the cluster analysis to the data. The research results are as follows. First, the leading sites in each area were classified into three groups based on averages and standard deviations of daily market shares. The first group includes the sites with the lowest market shares, which give more increased convenience to consumers by offering the Internet sites as complimentary services for existing offline services. The second group includes sites with medium level of market shares, where the site users are limited to specific small group. The third group includes sites with the highest market shares, which usually require online registration in advance and have difficulty in switching to another site. Second, we analyzed the second place sites in each business area because it may help us understand the competitive power of the strongest competitor against the leading site. The second place sites in each business area were classified into four groups based on averages and standard deviations of daily market shares. The four groups are the sites showing consistent inferiority compared to the leading sites, the sites with relatively high volatility and medium level of shares, the sites with relatively low volatility and medium level of shares, the sites with relatively low volatility and high level of shares whose gaps are not big compared to the leading sites. Except 'web agency' area, these second place sites show relatively stable shares below 0.1 point of standard deviation. Third, we also classified the types of relative strength between leading sites and the second place sites by applying the cluster analysis to the gap values of market shares between two sites. They were also classified into four groups, the sites with the relatively lowest gaps even though the values of standard deviation are various, the sites with under the average level of gaps, the sites with over the average level of gaps, the sites with the relatively higher gaps and lower volatility. Then we also found that while the areas with relatively bigger gap values usually have smaller standard deviation values, the areas with very small differences between the first and the second sites have a wider range of standard deviation values. The practical and theoretical implications of this study are as follows. First, the result of this study might provide the current market participants with the useful information to understand the competitive circumstance of the market and build the effective new business strategy for the market success. Also it might be useful to help new potential companies find a new business area and set up successful competitive strategies. Second, it might help Internet marketing researchers take a macro view of the overall Internet market so that make possible to begin the new studies on overall Internet market beyond individual Internet market studies.
Many foreign enterprises have begun to pay attention to China market recently, and enter this big market successively. Thus, it is very essential and valuable to understand China internet market well, especially the internet shopping mall market, and to find out the best strategy to build the internet shopping mall in China. The purpose of this comparative study is; (a) to compare with college students consumer's attitude and intention to use internet shopping, (b) to understand the use status of China internet shopping and the purchase situation of Chinese consumer, (c) basing on existing research, to master consumers' consideration items while making the purchase decision, and also master the advantages and disadvantages of internet shopping which consumers realized.
shows the channel structures analyzed in this study. Before the Internet channel is introduced, a monopoly manufacturer sells its products through an independent physical store. From this structure, the manufacturer could introduce its own Internet channel (MI). The independent physical store could also introduce its own Internet channel and coordinate it with the existing physical store (RI). An independent Internet retailer such as Amazon could enter this market (II). In this case, two types of independent retailers compete with each other. In this model, consumers are uniformly distributed on the two dimensional space. Consumer heterogeneity is captured by a consumer's geographical location (ci) and his disutility of using the Internet channel ( shows various market conditions captured by the two consumer heterogeneities. (a) illustrates a market with symmetric consumer distributions. The model captures explicitly the asymmetric distributions of consumer disutility in a market as well. In a market like that is represented in (c), the average consumer disutility of using an Internet store is relatively smaller than that of using a physical store. For example, this case represents the market in which 1) the product is suitable for Internet transactions (e.g., books) or 2) the level of E-Commerce readiness is high such as in Denmark or Finland. On the other hand, the average consumer disutility when using an Internet store is relatively greater than that of using a physical store in a market like summarizes the various scenarios of consumer distributions analyzed in this study. The range for disutility of using the Internet (
summarizes the analysis results. As the average travel cost in a market decreases while the average disutility of Internet use remains the same, average retail price, total quantity sold, physical store profit, monopoly manufacturer profit, and thus, total channel profit increase. On the other hand, the quantity sold through the Internet and the profit of the Internet store decrease with a decreasing average travel cost relative to the average disutility of Internet use. We find that a channel that has an advantage over the other kind of channel serves a larger portion of the market. In a market with a high average travel cost, in which the Internet store has a relative advantage over the physical store, for example, the Internet store becomes a mass-retailer serving a larger portion of the market. This result implies that the Internet becomes a more significant distribution channel in those markets characterized by greater geographical dispersion of buyers, or as consumers become more proficient in Internet usage. The results indicate that the degree of price discrimination also varies depending on the distribution of consumer disutility in a market. The manufacturer in a market in which the average travel cost is higher than the average disutility of using the Internet has a stronger incentive for price discrimination than the manufacturer in a market where the average travel cost is relatively lower. We also find that the manufacturer has a stronger incentive to maintain a high price level when the average travel cost in a market is relatively low. Additionally, the retail competition effect due to Internet channel introduction strengthens as average travel cost in a market decreases. This result indicates that a manufacturer's channel power relative to that of the independent physical retailer becomes stronger with a decreasing average travel cost. This implication is counter-intuitive, because it is widely believed that the negative impact of Internet channel introduction on a competing physical retailer is more significant in a market like Russia, where consumers are more geographically dispersed, than in a market like Hong Kong, that has a condensed geographic distribution of consumers.
Informativeness and Consumer Misleading Potentialities on the Internet Shopping Mall Sites -The Study of Comparison between On-line Market Place and Integrated Internet Stores-
(인터넷 쇼핑몰 사이트에서의 정보성과 소비자 오도가능성 - 온라인 마켓 플레이스와 인터넷 종합쇼핑몰의 비교 -)
Factors That Influence the Adoption of the Internet Market
(인터넷 상거래시장 진출결정에 영향을 주는 요인에 관한 연구)
A study on the Dynamics of Mobile Internet Market via System Dynamics Approach
(SD모형을 이용한 무선인터넷 시장 동태성 연구)
Antecedents of internet purchasing intention - Impulse buying, market mavenism, online interaction readiness, and online consumer procrastination -
(인터넷 구매의도의 선행변수 - 충동구매, 마켓메이븐 성향, 온라인 상호작용 준비성, 온라인 소비자 연기 -)
An Exploratory Study on the Competition Patterns Between Internet Sites in Korea
(한국 인터넷사이트들의 산업별 경쟁유형에 대한 탐색적 연구)
A Comparative Study on College Students Consumer's Attitude and Intention to Use Internet Shopping between Korea and China
(한.중 대학생 인터넷쇼핑에 대한 태도 및 이용의도에 관한 연구)
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