• Title/Summary/Keyword: Key Success Factors

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Modeling Brand Equity for Lifestyle Brand Extensions: A Strategic Approach into Generation Y vs. Baby Boomer (생활방식품패확장적품패자산건모(生活方式品牌扩张的品牌资产建模): 침대Y세대화영인조소비자적전략로경(针对Y世代和婴儿潮消费者的战略路径))

  • Kim, Eun-Young;Brandon, Lynn
    • Journal of Global Scholars of Marketing Science
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    • v.20 no.1
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    • pp.35-48
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    • 2010
  • Today, the fashion market challenged by a maturing retail market needs a new paradigm in the "evolution of brand" to improve their comparative advantages. An important issue in fashion marketing is lifestyle brand extension with a specific aim to meet consumers' specific needs for their changing lifestyle. For fashion brand extensions into lifestyle product categories, Gen Y and Baby Boomer are emerging as "prospects"-Baby Boomers who are renovating their lifestyle, and generation Y experiencing changes in their life stage-with demands for buying new products. Therefore, it is imperative that apparel companies pay special attention to the consumer cohort for brand extension to create and manage their brand equity in a new product category. The purposes of this study are to (a) evaluate brand equity between parent and extension brands; (b) identify consumers' perceived marketing elements for brand extension; and (c) estimate a structural equation model for examining causative relationship between marketing elements and brand equity for brand extensions in lifestyle product category including home fashion items for the selected two groups (e.g., Gen Y, and Baby boomer). For theoretical frameworks, this study focused on the traditional marketing 4P's mix to identify what marketing element is more importantly related to brand extension equity for this study. It is assumed that comparable marketing capability can be critical to establish "brand extension equity", leads to successfully entering the new categories. Drawing from the relevant literature, this study developed research hypotheses incorporating brand equity factors and marketing elements by focusing on the selected consumers (e.g., Gen Y, Baby Boomer). In the context of brand extension in the lifestyle products, constructs of brand equity consist of brand awareness/association, brand perceptions (e.g., perceived quality, emotional value) and brand resonance adapted from CBBE factors (Keller, 2001). It is postulated that the marketing elements create brand extension equity in terms of brand awareness/association, brand perceptions by the brand extension into lifestyle products, which in turn influence brand resonance. For data collection, the sample was comprised of Korean female consumers in Gen Y and Baby Boomer consumer categories who have a high demand for lifestyle products due to changing their lifecycles. A total of 651 usable questionnaires were obtained from female consumers of Gen Y (n=326) and Baby Boomer (n=325) in South Korea. Structural and measurement models using a correlation matrix was estimated using LISREL 8.8. Findings indicated that perceived marketing elements for brand extension consisted of three factors: price/store image, product, and advertising. In the model of Gen Y consumers, price/store image had a positive effect on brand equity factors (e.g., brand awareness/association, perceived quality), while product had positive effect on emotional value in the brand extensions; and the brand awareness/association was likely to increase the perceived quality and emotional value, leading to brand resonance for brand extensions in the lifestyle products. In the model of Baby Boomer consumers, price/store image had a positive effect on perceived quality, which created brand resonance of brand extension; and product had a positive effect on perceived quality and emotional value, which leads to brand resonance for brand extension in the lifestyle products. However, advertising was negatively related to brand equity for both groups. This study provides an insight for fashion marketers in developing a successful brand extension strategy, leading to a sustainable competitive advantage. This study complements and extends prior works in the brand extension through critical factors of marketing efforts that affect brand extension success. Findings support a synergy effect on leveraging of fashion brand extensions (Aaker and Keller, 1990; Tauber, 1988; Shine et al., 2007; Pitta and Katsanis, 1995) in conjunction with marketing actions for entering into the new product category. Thus, it is recommended that marketers targeting both Gen Y and Baby Boomer can reduce marketing cost for entering the new product category (e.g., home furnishings) by standardized marketing efforts; fashion marketers can (a) offer extension lines with premium ranges of price; (b) place an emphasis on upscale features of store image positioning by a retail channel (e.g., specialty department store) in Korea, and (c) combine apparel with lifestyle product assortments including innovative style and designer’s limited editions. With respect to brand equity, a key to successful brand extension is consumers’ brand awareness or association that ensures brand identity with new product category. It is imperative for marketers to have knowledge of what contributes to more concrete associations in a market entry into new product categories. For fashion brands, a second key of brand extension can be a "luxury" lifestyle approach into new product categories, in that higher price or store image had impact on perceived quality that established brand resonance. More importantly, this study increases the theoretical understanding of brand extension and suggests directions for marketers as they establish marketing program at Gen Y and Baby Boomers.

Research on Ways to Promote Community Care for People with Developmental Disability (발달장애인의 커뮤니티 케어 실현방안에 대한 연구)

  • Shin, Jun-Ok
    • Journal of Digital Convergence
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    • v.18 no.6
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    • pp.531-540
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    • 2020
  • The purpose of this study was to present ways and tasks for the successful settlement of community care that the korea government recently aimed to convert the care system of the vulnerable from the center of institutional care to the community-based care system. As a research method, we tried to find out the community care policies for foreign developmental disabilities and explore major issues and problems in the process. As a result of the study, de-institutionalization and maintenance and enactment of laws related to community-based care systems, the division of subjects and tasks in policy implementation, and above all, it is necessary to specify necessary financial estimation, procurement plan, and budget securing method. In addition, sincere deliberation on the form of living space for people with developmental disabilities after de-institution and clarification of the subjectivity of using the services provided Establish reliable statistics on the characteristics and degree of disability of people with developmental disabilities, worry about human rights violation factors that can occur in community residential facilities that will be provided after de-facility, and create consensus in the community was also analyzed as an important factor. I think it is a key factor to secure the success of the community care policy by carrying out the above multiple tasks simultaneously.

The Effects of Franchise Customers' Acquisition Utility and Exchange Utility on Customer Loyalty and Customer Citizenship Behavior (외식 프랜차이즈 고객의 획득효용과 교환효용이 고객충성도와 고객시민행동에 미치는 영향)

  • Kim, Sang-Duck;Im, Hyang-Mi;Seo, Ki-Hong;Yoon, Ok-Sook;Kim, Jong-Hun
    • The Journal of Industrial Distribution & Business
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    • v.10 no.2
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    • pp.39-49
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    • 2019
  • Purpose - Customer loyalty and citizenship behavior are key success factors of franchise system. They make the management of franchisee more effective and efficient. Prior studies, however, mainly dealt with only acquisition utility of customer, such as perceived product/service quality and brand reputation to explain customer loyalty and citizenship behavior, which explains only on one side. We tried to investigate the effect of exchange utility of customer, such as relationship strength and psychological obligation together with the acquisition utility. In addition, we tried to investigate the relationship between customer loyalty and citizenship behavior in franchise context. Research design, data, and methodology - This study used data collected from the dining franchisee managers of 342 franchisors in South Korea. The franchisors consist of more than ten franchisees, the majority of which participated directly in the transaction with franchisor and have worked for more than six months. To test the hypotheses, the study used structural equation model analysis. Results - H1-1, 1-2, 1-3 predicted that acquisition utility would increase customer loyalty to franchisee. In support of H1-1, 1-2, 1-3, the results indicated that acquisition utilities such as perceived product value, perceived service value, and franchise brand reputation had positive effects on customer loyalty. H2-1, 2-2 predicted that exchange utility would increase customer loyalty to franchisee. In support of H2-2, the result indicated that psychological obligation had positive effects on customer loyalty like other acquisition utilities. However, H2-1 was not supported. Relationship strength had no significant effect on customer loyalty. H3 predicted that customer loyalty would increase customer citizenship behavior. In support of H3, the results indicated that customer loyalty had positive effect on customer citizenship behavior. Overall, the evidences generally supported the hypotheses. Conclusion - The results of the study show that not only acquisition utility but also exchange utility increases customer loyalty to franchisee and also show that customer loyalty increases customer citizenship behavior. Interestingly, however, relationship strength has no significant effect on customer loyalty. These results have two implications. The one is that increasing exchange utility can improve customer loyalty as acquisition utility can. The other one is that both of customer utilities can improve customer citizenship via customer loyalty.

Does Cultural Intelligence enhance Export SME's Capability for Utilizing Foreign Market Informations? (문화 인텔리전스는 수출중소기업의 해외시장정보 활용능력을 키우는가?)

  • Hong, Songhon
    • International Commerce and Information Review
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    • v.19 no.1
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    • pp.127-152
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    • 2017
  • One of the biggest challenges in export activities of SME is the increasingly cultural diversity that requires especially export managers to adapt their doing business in many different kinds of cross-cultural situations effectively. A relative newly developed concept 'Cultural Intelligence' has been evaluated as a key element for the success in international business activities. This study aims to investigate empirically the role of Cultural Intelligence(CQ), one component of cultural competence, on export marketing adaptation. The statistical method used to test the hypotheses was Structural Equation Modeling using PLS. The results of this study are follows. The moderating role of Cultural Intelligence between information seeking and information using abilities is more stronger in marketing rather than relationship adaptation. Cultural Intelligence moderates between them. Critical factors affecting Cultural Intelligence are also discussed; foreign language fluency, business travels in abroad, characteristics of the business travels, multi-lingual ability, pre-education related cultural subjects, and visit experience in foreign countries. Especially, export managers' foreign language ability leads to much stronger influence on cultural intelligence. The result of the empirical study provides important implications for export SME and export supporting organizations. Export firms and supporting organizations must expand programs widely in multi cultural training and education to help managers gain a better understanding in a various export environment.

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Concreteness of technological capabilities and Performance of technology based Start-up company (기술창업기업의 기술보유유형과 성과와의 관계)

  • Choi, Jong Yeol
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.8 no.1
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    • pp.29-36
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    • 2013
  • So many researchers have been interested in key success factors of technological start-ups. However, previous studies have not focussed on Concreteness of technological capabilities at the growth stages and industry in technological start-ups. The purpose of this study is to investigate the Concreteness of technological capabilities that have influence on performance of technological start-ups. Empirical data was collected from 342 firms in BI in Korea. It used the questionnaire method for the CEO, It is executed the Regression analysis to test hypotheses of influencing effects. Results of the hypothesis testing are summarized as follows: First, It was found that technological capabilities had statistically significant influence on firm performance. But the property based resources had lower significant influence. Second, This research found that the knowledge based resources had higher significant influence on technological start-ups performance at IT industry. Third, The knowledge based resources had higher significant influence on performance at growth stages. In conclusion, technological capabilities were verified as important firm resources of technology-based start-ups for firm performance. But the Concreteness of technological capabilities was significant differences by growth-stage of firms.

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Study on R&D Manpower Requirements for the Field of Pharmaceutical - An Application of Delphi Method (제약산업 R&D 인력수급 전망과 인력수급에 영향을 주는 요인분석 - 델파이 조사 기법 적용)

  • Choi, Han-Joo;Suh, Chang-Jin
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.12 no.3
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    • pp.1270-1277
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    • 2011
  • Since the pharmaceutical industry is a research oriented sector, the research and development capability based on the qualified R&D manpower is one of the key success factors to strengthen the national competitiveness. Securing the appropriate number of researcher needed for the research activities in these fields is an important precondition for a government policy that aims for a strongly knowledge-intensive the pharmaceutical industry growth. In this study, we conducted and analyzed a delphi survey of the experts(the principal investigators) with expertise in these pharmaceutical research areas. The current and future requirements for the pharmaceutical science research personnel including medical doctors have been evaluated, extending the year 2017. The results of this study can be summarized as follows; First, in 2007 the field of pharmaceutical R&D personnel is currently under-supplied as many as about 5,600 people. The rate of under-supplied is about 18.1%. Second, in 2017 the evaluation shows that the R&D personnel in this field will be more severely under-supplied as many as 13,500 people. The rate of under-supplied will be about 28.6%. As a result, the confrontation of demand and supply evaluation shows that, in general, severe shortages of R&D manpower in the field of pharmaceutical will result if there are not adequate manpower policy adjustment.

Narrative and Music of Changgeuk Madame Ong (창극 <변강쇠 점 찍고 옹녀>의 서사와 음악)

  • Shin, Sa-Bin
    • The Journal of the Korea Contents Association
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    • v.14 no.12
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    • pp.639-654
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    • 2014
  • What is noticeable in Changgeuk Madame Ong is that for "narrativization," a main character is replaced with Madame Ong and her mother and a reinvented story as a result thereof is the female liberation from oppression. The director sought for the completeness of the narrative with a plot line created (i) by daringly deleting the latter half (episode relating to Gangsoe's death), which was a persistent problem unsolved both in the original and its derivative contents, (ii) by diluting Gangsoe's patriarchal authority and thereby creating the ending of endless love and the fruition of love, and (iii) by severing the link between Madame Ong's doomed fate of widowhood and Gangsoe's doomed fate of death by the violation of a taboo (the key factors of the original story) and at the same time, thereby inserting the doomed fate of death by Jowang (god of fire), declaring a war against jangseung (Korean traditional totem pole), the aesthetic structure representing "fictionization," and enabling a female character to gain love, fame and life through free will and spirit of resistance. The director achieved a remarkable success in terms of composition by (i) taping into a variety of genres of music, (ii) by maximizing the effect of Madame Ong's solo, (iii) by strengthening the "uniqueness of each part" through chorus, (iv) by creating a dramatic atmosphere for the change of scene, (v) by applying a dual variation of tension (resistance theme) and relaxation (freedom theme), etc.

Determinants of participation in UCC services (UCC 서비스 사용자의 참여수준 결정요인분석)

  • Kim, Yeon-Jeong;Jun, Bang-Gi;Kim, Yoo-Jung;Kang, So-Ra
    • Journal of Korea Technology Innovation Society
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    • v.10 no.3
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    • pp.486-508
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    • 2007
  • This study identifies key determinants of participation in UCC services. Incorporating insights from the flow theory, we examine the effects of psychological factors of social presence, self expression, arousal, and challenge as well as web-site characteristics variables of media easiness, contents usability, and immediateness. We have done a sample survey of internet users and collected 260 responses. Using Windows SPSS/PC 12.0 Package, we have performed statistical analyses including a correlation analysis, a factor analysis, and a multiple regression analysis. The result of the study is as follows. Psychological variables of perceived social presence, self expression, arousal, and challenge all show positive significant effect on participation in UCC service. Among web site characteristics, media easiness, which consists of a web structure that is easy-to-use, user friendliness, and personalized service, demonstrates a positive significant effect on participation in UCC services. Immediateness also has a positive significant effect. Some of the practical implications of the result are follows. We should improve user access to platforms of UCC service by opening up platforms. This will heighten perceived challenge which has the strongest influence on participation in UCC services. We need to focus on multimedia services and adjust to the cultural code of netizen who crave for visual expressions and on the spot on-line activities. Also suggested is that contributions made by participants need to be acknowledged through such provisions as profit sharing. Needs for individualized service, which is an aspect of media easiness, should also be addressed. Participants tend to value individuality while at the same time accepting broader trends. Information services need to be customized for individuals. In UCC centered internet businesses, netizen consumers are presumer. They are consumers and producers at the same time, and consumer needs should also be explored for the success of internet businesses.

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A Study on Operational Model of Subject-Based Online Community for Open Access System - with Special Reference to Community Service Functions and Researcher's Participation Will (주제 기반 온라인 학술 커뮤니티의 구축 방향 - 학술 연구자의 온라인 커뮤니티에 대한 기능요구사항과 참여의지에 대한 분석을 중심으로 -)

  • Kim, Young-Ki;Jeong, Jong-Geun;Lee, Soo-Sang
    • Journal of the Korean Society for information Management
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    • v.24 no.4
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    • pp.5-31
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    • 2007
  • The purpose of this study is to provide successive online community operational model in response to the world wide open access movement which supports the broadest possible access to published research and other scholarly writings. This study is divided into four areas in a large. First, this study reviewed general community, online community and open access movement. Second, wellknown online scholarly community, i.e., KISTI Society, BRIC, DSpace were analyzed precisely focusing on the administrative and functional factors to find key to success. Third, based on the above two studies, major functions of community services were identified. For this work, community service functions and participation will were asked to the researchers registered in Korea Research Foundation. According to the results of the above works, this study presents the important functions of online community services as follows: management function of research results, posting function of issue reports, and provision function of integrated information on research proposal should be provided preferentially to researchers aged 30s and 40s.

The Effect of Entrepreneurship and authentic leadership on the Performance of Nonprofit Organizations (기업가 정신과 진정성 리더십이 비영리 조직의 성과에 미치는 영향)

  • Park, Eun-Mi;Seo, Joung-Hae
    • Journal of the Korea Convergence Society
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    • v.11 no.2
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    • pp.231-240
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    • 2020
  • In this study, the case of OO corporation was based on to examine the business performance and method of OO corporation and the competitive advantage and success factors were considered. For the progress of this study, references and advanced researches related to entrepreneurship, authentic leadership, and organizational effectiveness, which were suggested as the core competence of non-profit organizations, were examined and textual information was secured through the homepage of the targeted organization and news articles. Lastly, data needed for the research was collected through an interview with the Chief Executive Officer (CEO) of the organization. Through the process and analysis, the following findings were identified. First, the entrepreneurship of the CEO can apply as a core competence for the operation of the non-profit organization. Second, the proposition was derived that the roles of the CEO and leadership can apply as a key competence in the operation of the non-profit organization. This study implies that the many theories and strategies which were only targeted on companies can also be applied for the research of non-profit organizations. Moreover, concerning modern corporate management, strategic approach of non-profit organization characteristics like a sense of mission, fairness, and ethics can promote the creation of sustainable competitive advantage.