• Journal of Navigation and Port Research
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• v.40 no.5
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• pp.337-343
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• 2016

The core decisions of bulk shipping businesses can be summarized as the timing and the choice of period for which carrying capacity is traded. In particular, frequent decisions to trade freight either with repeated spot transactions or with a one-off long-term deal critically impact business performance. Even though a variety of freight trading strategies can be employed to facilitate the decisions, chartering practitioners have not been active in utilizing these strategies, and academic research has rarely proposed applicable solutions. The specific properties of freight as a tradable commodity are not properly reflected in existing studies, and limitations have been reported in their application to the real world. This research focused on the establishment of applicable freight trading strategies by taking into account two properties of freight: time perishability and term-dependant pricing. In addition to traditional trading strategies, artificial neural networks were applied for the first time to the test of freight trading strategies. The performances of the trading strategies were measured and compared to produce a remarkable outperformance of the ANN. This research is expected to make a significant contribution to chartering practices by enhancing the quality of chartering decisions and eventually enabling the effective management of freight rate risk. In addition to methodological expansion, the result will propose a way to approach the controversial issue of freight market efficiency.

• Journal of Distribution Science
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• v.10 no.1
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• pp.11-22
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• 2012

The traditional market in the nation was forced to decrease greatly users as well as sales because of opening of all of the markets, Internet shopping mall, home shopping and other new types of marketing businesses to lose market functions remarkably. Therefore, the Agency for Traditional Market Administration of Small & Medium Business Administration made efforts to develop traditional market, for instance, modernization of the facilities to improve physical environment, and improvement of each shop by using VMD, and so on. The purpose of the study was to examine efficiency of VMD shops for development of traditional market by the Agency for Traditional Market Administration and effects of VMD upon sales of each shop, and to help establish VMD strategies for customer satisfactions as well as visual environment of traditional market. The author visited five shops at Busan Jin Market, special market of articles for wedding ceremony that joined VMD shop guide of traditional market, and taught VMD on-the-spot and investigated it. Questionnaire of Agency for Traditional Market Administration was used to interview shop owners, shopkeepers and consumers, etc and to examine factors of changes of sales and customers' satisfactions before and after VMD. The purpose of the study was to investigate effects and satisfactions of increase of the sales of VMD shop guide that the government promoted to develop traditional market so far. Therefore, the author investigated VMD presentation, increase of the sales before and after VMD presentation, increase of number of customers, and satisfactions, etc of Korean clothes shops that joined improvement of VMD shop guide of traditional market of the government in 2010. The author investigated effects of the sales, increase of customers and satisfactions, etc by case study and empirical analysis, and she presented user-oriented VMD presentation techniques of traditional market and suggested improvement. After applying VMD, the shops could increase sales more than 20 percent in average, and satisfaction of VMD presentation was more than 88 points or more to be very much high. This study suggested VMD strategies and presentation of traditional market to give consumers affirmative visual images and to develop traditional market.

• Journal of Energy Engineering
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• v.11 no.1
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• pp.59-66
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• 2002

The vertically integrated power industry was divided into six generation companies and one market operator, where electricity trading was launched at power exchange. In this environment, the profits of each generation companies are guaranteed according to utilizing strategies of their own generation equipments. This paper presents on generator maintenance scheduling and efficient bidding strategies for generation equipments through the calculation of the contract and the application of each generator cost function based on the past demand forecasting error and market operating data.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.3
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• pp.509-516
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• 2011

This paper studies a novel method to find the profit-maximizing Nash Equilibriums in allocating generation quantities with consideration of ramp-rates under competitive market environment. Each GenCo in a market participates in a game to maximize its profit through competitions and play a game with bidding strategies. In order to find the Nash equilibriums it is necessary to search the feasible combinations of GenCos' strategies which satisfy every participant's profit and no one wants various constraints. During the procedure to find Nash equilibriums, the payoff matrix can be simplified as eliminating the dominated strategies. in each time interval. Because of the ramp-rate, generator's physically or technically limits to increase or decrease outputs in its range, it can restrict the number of bidding strategies of each generator at the next stage. So in this paper, we found the Nash Equilibriums for multi-stage generation allocation game considering the ramp-rate limits of generators. In the case studies, we analyzed the generation allocation game for a 12-hour multi-stage and compared it with the results of dynamic economic dispatch. Both of the two cases were considered generator's ramp-rate effects.

• ETRI Journal
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• v.45 no.4
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• pp.636-649
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• 2023

Renewable energy generation cannot be consistently predicted or controlled. Therefore, it is currently not widely used in the electricity market, which requires dependable production. In this study, reliability- and variance-based controls of energy storage strategies are proposed to utilize renewable energy as a steady contributor to the electricity market. For reliability-based control, photovoltaic (PV) generation is assumed to be registered in the power generation plan. PV generation yields a reliable output using energy storage units to compensate for PV prediction errors. We also propose a runtime state-ofcharge management method for sustainable operations. With variance-based controls, changes in rapid power generation are limited through ramp rate control. This study introduces new reliability and variance indices as indicators for evaluating these strategies. The reliability index quantifies the degree to which the actual generation realizes the plan, and the variance index quantifies the degree of power change. The two strategies are verified based on simulations and experiments. The reliability index improved by 3.1 times on average over 21 days at a real power plant.

• Knowledge Management Research
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• v.12 no.3
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• pp.73-96
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• 2011

Recent market saturation makes the local retailers consider an attempt to innovate the market with the retailer's brand. This is the retailers' efforts to expand the market control through the enhancement of private brands. As the competition among manufacturers extends to the competition between manufacturers and retailers, the marketing knowledges of manufacturers need to be diversified to the ones that can be applied to the manufacturers and retailers due to their bilateral competition. This research concentrates on the customer acquisition strategy (attack strategy) and customer retention strategy (defense strategy) in the place of both sides of manufacturers and retailers. Also this research targets to develop the differential marketing strategies for target market's National Brand(NB)/Private Brand(PB) purchase by analyzing individual customer's purchase probability on repurchase and switch-purchase of NB and PB. This study is based on the data of frequently consumed product, tomato ketchup on scanner panel from the ERIM data of University of Chicago, USA. This study compares and analyzes the NB and PB repurchases and switch-purchase of 4 types. The comparisons provide the informations that which factors should be managed for the attack strategy, the defense strategy, and the differential marketing strategies both for manufacturers and retailers. This research is expected to contribute on cumulating the industrial knowledges of retailers' and manufacturers' survival strategy, expecially focusing on the effect of marketing factors and consumer-characteristic factors.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.613-620
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• 2020

COVID-19 pandemic has made the economy in Indonesia sluggish, especially Small and Medium Enterprises (SMEs). Simultaneously, the SMEs existence in Indonesia is fundamental and considered important by the government since it is able to assist numerous laborers and become an income source for the lower and middle classes of the community. The productivity of SME in a region will undeniably influence the availability of job and, of course, reduce the number of unemployed. Therefore, in this study, the researchers looked at how to improve SMEs performance to continue to exist amid the COVID-19 pandemic, by identifying the relationships between product characteristics, market competitive strategies, and the performance of SMEs. The research was done on SMEs in West Java, Indonesia. The example employed was Batik SMEs in Cirebon with at least 10 years in existence, and the total number of these SMEs was 165. As the basis of a quantitative approach, this study employed survey instruments by distributing a questionnaire. In analyzing the data, it utilized the structural equation modeling (SEM). The result showed a significant relationship between Product Characteristics, Market Competitive Strategy, and Price and Product Success Rate on SMEs Performance. This study's findings contribute to the SMEs performance literature.

• Journal of Korea Society of Digital Industry and Information Management
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• v.18 no.1
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• pp.151-162
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• 2022

LX Hausys, a leading manufacturer of building materials in South Korea is engaging in the interior business where it is critical to balance between the needs of end-users (B2C) and the needs of corporate consumers (B2B) in an effective manner. Therefore, it is utmost important for the company to ensure that customer communication takes place in two directions based on correct market segmentation strategies, which in turn require a deep understanding of current as well as potential consumers. To accomplish this, LX Hausys conducted both quantitative and qualitative studies to establish a market segmentation strategy which is genuinely different from "general" consumer goods market segmentation strategies. As a result, especially since 2018, its brand (LX Z:IN) began to move up to 1st or 2nd place in a variety of brand rankings. This paper aims to look closely into various characteristic aspects of LXH's market segmentation strategy, and also shows how it is implemented in the real world.

• International Commerce and Information Review
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• v.19 no.1
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• pp.99-126
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• 2017

The Indonesian e-commerce market has grown significantly due to sustained economic growth, middle class growth, rapid increase in Internet and SNS users, and increase in accessibility of mobile broadband services. In particular, consumers' online shopping through mobile and SNS has been increasing rapidly based on the expansion of the popularity of smart phone devices. This research suggested the strategies for expanding exports of Indonesia through e-commerce platform to the Korean firms, with deep analysis of the current status and features, problems, cases, and implications etc. of Indonesia's e-commerce market. As an export expansion strategy utilizing Indonesia's e-commerce platform, this study showed the Korean firms have to build a local online distribution network, establish a logistics & delivery and payment system, acquire Halal certification for Muslim market, carry out the in-depth market research, actively implement Hanryu marketing strategy, develop a creative product, set up market segmentation strategies, and develop SNS mobile marketing.

• Journal of Arbitration Studies
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• v.15 no.3
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• pp.3-25
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• 2005

The companies' management strategies of the electronic commerce market are different from those of the traditional market. The main difference between the electronic commerce market and the traditional market is an IT network system which is a companies' management strategies in the electronic commerce market. This study focuses on the examination and analysis of the companies' management strategies which are constituted through influence on the effectiveness of the IT network system in the electronic commerce market and Promoting Arbitration System in The Era of Digital Economy this study is to introduce several alternative policies of the Government and companies to such formated IT network system of the electronic commerce market in the future. It's also suggested that the Korean Commercial Arbitration Board (KCAB) fully cover consideration and arbitration, while KCAB for Electronic Commerce activates its proper role of consulting and ad hoc arbitration by using electronic information. E-commerce sets up the probability that its merchants and customers will not exist in the same legal jurisdictions. The confusing application of laws and wide geographical dispersion of these parties will necessitate a faster and cheaper dispute resolution methodology. Therefore, online ADR may be effective for e-commerce dispute resolution. The examples of online ADR operation are the cyber mediation of Electronic Transaction Dispute Resolution Committee, the cyber mediation of Korean Commercial Arbitration Board, the cyber mediation of Click N Settle, the online ADR of BBB online, and the cyber arbitration of virtual Magistrate. The paper points out the last one as the most desired practice. This study results are how to minimize the disputes and the method of dispute settlement. Therefore, a role of arbitration proposed and emphasized. To protect the dispute in advance, it's suggested to revise rules timely following on technical changes, and emphasized that the dispute has to lead to arbitration settlement not for consuming unnecessary time and finance for enterprises and consumers.