• Title/Summary/Keyword: Perceived Customer Value

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Relationship-oriented Social Media Marketing Strategy in Banking Service Company - Focusing on Industrial Bank of Korea (금융기업의 관계지향적 소셜 미디어 마케팅 성공 전략 -IBK 기업은행 사례를 중심으로)

  • Ro, Eun-Jik;Kim, Bo-Young
    • The Journal of the Korea Contents Association
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    • v.12 no.1
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    • pp.460-475
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    • 2012
  • The relationship between Korean bank and customer are known as rigidity compare to other industry. The conservative organizational culture is often found in Korean banks. Today, Korean banks are facing dramatic change in digital world in that new wave in online intensifies the connectivity with bank customers and potentials. The introduction of social media would force to develop new marketing strategy in terms of the relationship oriented behavior. The case study presents the findings of a social media marketing strategy which was conducted in Industrial Bank of Korea in 2009-2011. More specifically, the study was designed to determine and evaluate the importance of social media marketing by retail bank in strategic instrument. Also it sets out to determine the perceived usefulness of the relationship oriented services offered by banks to their visitors and followers what these banks can do in order to improve bank services to improve competitive. Using the six relationship activity factors, the banks were examined in the study, a set of core activities (trusty worthy, empathy, shared value, emotional bonding, rich communication) are defined and described.

Analysis of important decision factor for online platform use: an Analytical Hierarchy Process approach (온라인 플랫폼 사용에 대한 선정요인 중요도분석: AHP 기법을 중심으로)

  • Lee, DonHee
    • Journal of Korea Society of Industrial Information Systems
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    • v.26 no.6
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    • pp.81-96
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    • 2021
  • This study examines the importance of factors that influence the online platform selection decision to support operational optimization strategies. For the research purpose, we first reviewed previous studies on service encounters and identified those factors that have been proven important for using online platforms. Second, this study analyzed the factors that customers perceived as important based on analytical hierarchy process (AHP) of the data we collected from 10 mobile or computer-based Internet users. The study results revealed that the important factors for the online platform selection were in the following order: product diversity (27.4%), ease of use (21.5%), brand credibility (18.1%), interactions with the service provider (17.7%), and ease of accessibility (15.3%). The study provides useful insights to online platform service providers in developing strategies for customer-focused value creation.

Effects of Perceived Choice Attributes in Traditional Markets and Relationship Quality: Moderating Effects of Consumption Emotion and Consumer's Value (전통시장 선택 속성이 관계품질에 미치는 영향 : 소비감정의 조절효과와 소비자 가치의 매개효과)

  • Yang, Hoe-Chang;Ju, Yoon-Hwang
    • Journal of Distribution Science
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    • v.10 no.12
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    • pp.25-34
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    • 2012
  • Purpose - This study examines college students' perceived choice attributes in traditional markets and the relationship quality. We study the relationships between attributes that common people look for while choosing a store (e.g., product, service, advertising, and atmosphere), consumption emotion, consumer's value, and relationship quality. Research design, data, methodology - In order to verify the relationship between choice attributes and relationship quality, and moderating (i.e., consumption emotion) and mediating effects (i.e., customer value), we collected data from 202 consumers in Gyeonggi province to test the theoretical model and its hypotheses. For this purpose, this study, utilized an empirical methodology. Results - First, contrary to the previous research findings involving college students, this study observed that four factors of store choice attributes at a traditional market were important to consumers in heightening the relationship quality. Specifically, product (β = .608, p < .01), service (β = .351, p < .01), advertising (β = .237, p < .01), and atmosphere (β = .425, p < .01) are significantly related to relationship quality. Second, consumers selected product (β =. 521, p < .01) as the most important attribute. Atmosphere (β = .254, p < .01) and service division (β = .148, p < .05), in this order, are the other important factors in this regard. However, advertising (β = -.112, p = .100) is not statistically significant. To improve and develop the relationship quality with consumers, traditional markets should ensure supply of suitable products and goods, improve store atmosphere by modernizing facilities, and educate merchants to improve their services. Third, the results of the moderating effects, although marginally statistically significant, suggest that for the consumers with low consumption emotion for traditional markets, an affirmative experience of products and store atmosphere heightens their values. In addition, the consumers having low consumption emotion who could promote consumer values were found to improve and develop a marginally significant relationship quality. Finally, the study revealed that the consumer's value exhibited a complete mediation effect in the relationships between service and relationship quality, and advertising and relationship quality and a partial mediation effect in the relationships between product and relationship quality, and atmosphere and relationship quality. Conclusions - Consumer satisfaction is important to increase the competitiveness of traditional markets, and products and store atmosphere are important attributes to increase the relationship quality. Specifically, merchants should supply different products, modernize their facilities, and improve store atmosphere to compete in traditional markets. In addition, traditional markets should provide value and competitive prices to attract consumers, and should maximize the consumer's value and promote the consumption emotion. Traditional markets should evolve to accommodate changes in the consumer's value and invest in not only functional elements but also symbolic elements.

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Brand Equity and Purchase Intention in Fashion Products: A Cross-Cultural Study in Asia and Europe (상표자산과 구매의도와의 관계에 관한 국제비교연구 - 아시아와 유럽의 의류시장을 중심으로 -)

  • Kim, Kyung-Hoon;Ko, Eun-Ju;Graham, Hooley;Lee, Nick;Lee, Dong-Hae;Jung, Hong-Seob;Jeon, Byung-Joo;Moon, Hak-Il
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.4
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    • pp.245-276
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    • 2008
  • Brand equity is one of the most important concepts in business practice as well as in academic research. Successful brands can allow marketers to gain competitive advantage (Lassar et al.,1995), including the opportunity for successful extensions, resilience against competitors' promotional pressures, and the ability to create barriers to competitive entry (Farquhar, 1989). Branding plays a special role in service firms because strong brands increase trust in intangible products (Berry, 2000), enabling customers to better visualize and understand them. They reduce customers' perceived monetary, social, and safety risks in buying services, which are obstacles to evaluating a service correctly before purchase. Also, a high level of brand equity increases consumer satisfaction, repurchasing intent, and degree of loyalty. Brand equity can be considered as a mixture that includes both financial assets and relationships. Actually, brand equity can be viewed as the value added to the product (Keller, 1993), or the perceived value of the product in consumers' minds. Mahajan et al. (1990) claim that customer-based brand equity can be measured by the level of consumers' perceptions. Several researchers discuss brand equity based on two dimensions: consumer perception and consumer behavior. Aaker (1991) suggests measuring brand equity through price premium, loyalty, perceived quality, and brand associations. Viewing brand equity as the consumer's behavior toward a brand, Keller (1993) proposes similar dimensions: brand awareness and brand knowledge. Thus, past studies tend to identify brand equity as a multidimensional construct consisted of brand loyalty, brand awareness, brand knowledge, customer satisfaction, perceived equity, brand associations, and other proprietary assets (Aaker, 1991, 1996; Blackston, 1995; Cobb-Walgren et al., 1995; Na, 1995). Other studies tend to regard brand equity and other brand assets, such as brand knowledge, brand awareness, brand image, brand loyalty, perceived quality, and so on, as independent but related constructs (Keller, 1993; Kirmani and Zeithaml, 1993). Walters(1978) defined information search as, "A psychological or physical action a consumer takes in order to acquire information about a product or store." But, each consumer has different methods for informationsearch. There are two methods of information search, internal and external search. Internal search is, "Search of information already saved in the memory of the individual consumer"(Engel, Blackwell, 1982) which is, "memory of a previous purchase experience or information from a previous search."(Beales, Mazis, Salop, and Staelin, 1981). External search is "A completely voluntary decision made in order to obtain new information"(Engel & Blackwell, 1982) which is, "Actions of a consumer to acquire necessary information by such methods as intentionally exposing oneself to advertisements, taking to friends or family or visiting a store."(Beales, Mazis, Salop, and Staelin, 1981). There are many sources for consumers' information search including advertisement sources such as the internet, radio, television, newspapers and magazines, information supplied by businesses such as sales people, packaging and in-store information, consumer sources such as family, friends and colleagues, and mass media sources such as consumer protection agencies, government agencies and mass media sources. Understanding consumers' purchasing behavior is a key factor of a firm to attract and retain customers and improving the firm's prospects for survival and growth, and enhancing shareholder's value. Therefore, marketers should understand consumer as individual and market segment. One theory of consumer behavior supports the belief that individuals are rational. Individuals think and move through stages when making a purchase decision. This means that rational thinkers have led to the identification of a consumer buying decision process. This decision process with its different levels of involvement and influencing factors has been widely accepted and is fundamental to the understanding purchase intention represent to what consumers think they will buy. Brand equity is not only companies but also very important asset more than product itself. This paper studies brand equity model and influencing factors including information process such as information searching and information resources in the fashion market in Asia and Europe. Information searching and information resources are influencing brand knowledge that influences consumers purchase decision. Nine research hypotheses are drawn to test the relationships among antecedents of brand equity and purchase intention and relationships among brand knowledge, brand value, brand attitude, and brand loyalty. H1. Information searching influences brand knowledge positively. H2. Information sources influence brand knowledge positively. H3. Brand knowledge influences brand attitude. H4. Brand knowledge influences brand value. H5. Brand attitude influences brand loyalty. H6. Brand attitude influences brand value. H7. Brand loyalty influences purchase intention. H8. Brand value influence purchase intention. H9. There will be the same research model in Asia and Europe. We performed structural equation model analysis in order to test hypotheses suggested in this study. The model fitting index of the research model in Asia was $X^2$=195.19(p=0.0), NFI=0.90, NNFI=0.87, CFI=0.90, GFI=0.90, RMR=0.083, AGFI=0.85, which means the model fitting of the model is good enough. In Europe, it was $X^2$=133.25(p=0.0), NFI=0.81, NNFI=0.85, CFI=0.89, GFI=0.90, RMR=0.073, AGFI=0.85, which means the model fitting of the model is good enough. From the test results, hypotheses were accepted. All of these hypotheses except one are supported. In Europe, information search is not an antecedent of brand knowledge. This means that sales of global fashion brands like jeans in Europe are not expanding as rapidly as in Asian markets such as China, Japan, and South Korea. Young consumers in European countries are not more brand and fashion conscious than their counter partners in Asia. The results have theoretical, practical meaning and contributions. In the fashion jeans industry, relatively few studies examining the viability of cross-national brand equity has been studied. This study provides insight on building global brand equity and suggests information process elements like information search and information resources are working differently in Asia and Europe for fashion jean market.

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A Study on the Comparison of Flatfish and Salmon Consumption Patterns in Twenties -Focus Group Study- (20대 소비자의 광어·연어 소비성향 비교에 관한 연구 -표적집단면접(FGI)을 중심으로-)

  • Kim, Ji-Ung;Park, Ji-Hyun;Kang, Hyo-Seul
    • The Journal of Fisheries Business Administration
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    • v.50 no.3
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    • pp.1-15
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    • 2019
  • The purpose of this study is to analyze the differences by comparing consumption tendency of the Flatfish and Salmon using focus group interview (FGI). The FGI was conducted on university students in their 20s, with a total of 38 respondents surveyed in seven focus groups. Flatfish was recognized as a food in the form of popular sliced raw fish and had customer image that fit for middle-aged men in their 40s and 50s while eating with alcohol. 20s were perceived to be out of date with their age group as flatfish was considered old fish that did not match their age. In addition, they felt low accessibility to flatfish. Salmon was perceived by 20s as a food with a higher appeal than flatfish. Salmon has been creating a brand identity in their 20s and 30s for fashionable and trendy food that appealed to younger generations. They considered characteristics of salmon high in intangible value, such as something sophisticated, trendy, and beautiful. 20s consumed various forms of salmon including salmon sushi, salmon bowl, and salmon fillet, and they perceived it as a psychologically close food that can be easily accessible. In this study, the color of species (orange color of salmon), accessibility, restaurant image, and social media exposure were found to influence the consumption patterns of two species.

Influence of Word of Mouse and Consumers Attitudes on Consumers' Decision-Making in E-Commerce

  • GUO, Chen;KIM, Hyunsu;KIM, Woohyoung
    • The Journal of Industrial Distribution & Business
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    • v.11 no.8
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    • pp.7-19
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    • 2020
  • Purpose: Prior studies rarely investigated the effects of the Word of Mouse (WoM) information on consumers' motivation and willingness to purchase a product. Furthermore, few scholars have studied how word-of-mouth information works and they fail to find consistent results. Research design, data and methodology: This study uses a multivariate regression model to investigate the influence of WoM on consumer attitudes and consumer decision-making. It categorizes the quality of WoM into source level and acceptance level, to analyze its influence from a new perspective. A total of 400 surveys were completed, resulting in 336 usable questionnaires for analysis. It was collected in 14 cities from all regions in China. This study constructs a theoretical model of WoM influence on consumers' purchase willingness based on a systematic review of the related literature on WoM quality, perceived value, customer trust, and consumers' purchase willingness. Results: Empirical results reveal that the Internet WoM (consumer's source level and acceptance level) indirectly affects consumer behavior by influencing consumer attitudes. Conclusions: This study provides practical significance and value for merchants to develop better WoM marketing and to establish the reliability of WoM websites. Companies should consider online WoM from the perspective of consumers, thereby improving existing marketing strategies.

Mobile Coupon Gift-giving Intention Model in Mobile Instant Messenger Environment (모바일 메신저 환경하의 모바일 상품권 선물증여 의도 모형)

  • Yeo, Hyun-Jin;Nan, Chun-Ji;Suh, Yung-Ho
    • Journal of Korean Society for Quality Management
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    • v.42 no.4
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    • pp.717-728
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    • 2014
  • Purpose: The purpose of this research is to develop a model tat explains the motivation of mobile coupon gift intention in mobile instant messenger service. Methods: This study utilized Structural Equation Model to clarify factors those influence mobile coupon gift intention under mobile messenger environment. Results: The research model in this study is verified with two hundreds sample data. This study found that mobile coupon gift-givers's giving intention is influenced by experimental and obligated motivation, price utility, social value of gift-giving, and perceived ease of use of the technology. Conclusion: This study verified five factors those influence to mobile coupon gift-giving intention. Although this study initially suggests and verify gift-giving intention model, we expect further research that related to other factors affecting the intention and other recent technology factors such as personal innovation and others.

A Study of Factors Affecting on Trust and Participation of Group Buying on the Internet (인터넷 공동구매 신뢰와 참여에 영향을 미치는 요인에 관한 연구)

  • 고일상;장정주;이영훈
    • Proceedings of the Korea Society of Information Technology Applications Conference
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    • 2002.11a
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    • pp.125-135
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    • 2002
  • With rapid growth and competition of electronic commerce through internet, various buying types and business models are being appeared In this paper, we studied group buying which is new business model to consumer and factors affecting on trust and participation of group buying. The following are the regression result of this study. First, factors affecting on trust of group buying were different from factors affecting on participation of group buying. Second, perceived reputation factor, familiarity factor and product value factor made a significant effect on participation of group buying. Third customer service factor didn't make a significant effect on both participation and trust of group buying. Fourth, product value factor made a significant effect on both participation and trust of group buying. Fifth trust of group buying made a significant effect on participation of group buying

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A Study of Factors Affecting on Trust and Participation of Group Buying on the Internet (인터넷 공동구매 신뢰와 참여에 영향을 미치는 요인에 관한 연구)

  • 고일상;장정주;이영훈
    • Proceedings of the Korea Society for Industrial Systems Conference
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    • 2002.11a
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    • pp.125-135
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    • 2002
  • With rapid growth and competition of electronic commerce through internet, various buying types and business models are being appeared In this paper, we studied group buying which is new business model to consumer and factors affecting on trust and participation of group buying. The following are the regression result of this study. first, factors affecting on trust of group buying were different from factors affecting on participation of group buying. Second perceived reputation factor, familiarity factor and Product value factor made a significant effect on participation of group buying. Third, customer service factor didn't make a significant effect on both participation and trust of group buying. fourth, product value factor made a significant effect on both participation and trust of group buying. Fifth trust of group buying made a significant effect on participation of group buying

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The Effect of Information Service Quality on Customer Loyalty: A Customer Relationship Management Perspective (정보서비스품질이 고객로열티에 미치는 영향에 관한 연구: 고객관계관리 관점)

  • Kim, Hyung-Su;Gim, Seung-Ha;Kim, Young-Gul
    • Asia pacific journal of information systems
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    • v.18 no.1
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    • pp.1-23
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    • 2008
  • As managing customer relationship gets more important, companies are strengthening information service using multi-channels to their customers as a part of their customer relationship management (CRM) initiatives. It means companies are now accepting such information services not as simple information -delivering tools, but as strategic initiatives for acquiring and maintaining customer loyalty. In this paper, we attempt to validate whether or not such various information services would impact on organizational performance in terms of CRM strategy. More specifically, our research objective is to answer the next three questions: first, how to construct the instruments to measure not information quality but information service quality?; second, which attributes of information service quality can influence corporate image and customer loyalty?; finally, does each information service type have unique characteristics compared with others in terms of influencing corporate image and customer loyalty? With respect to providing answers to those questions, the previous studies had been limited in that those studies failed to consider the variety of types of information service or restricted the quality of information service to information quality. An appropriate research model answering the above questions should consider the fact that most companies are utilizing multi channels for their information services, and include the recent strategic information service such as customer online community. Moreover, since corporate information service could be regarded as a type of products or services delivered to customer, it is necessary to adopt the criteria for assessing customer's perceived value when to measure the quality of information service. Therefore, considering both multi-channels and multi-traits may enable us to tell the detailed causal routes showing which quality attributes of which information service would affect corporate image and customer loyalty. As information service channels, we include not only homepage and DM (direct mail), which are the most frequently applied information service channels, but also online community, which is getting more strategic importance in recent years. With respect to information service quality, we abstract information quality, convenience of information service, and timeliness of information service through a wide range of relevant literature reviews. As our dependant variables, we consider corporate image and customer loyalty that both of them are the critical determinants of organizational performance, and also attempt to grasp the relationship between the two constructs. We conducted a huge online survey at the homepage of one of representative dairy companies in Korea, and gathered 367 valid samples from 407 customers. The reliability and validity of our measurements were tested by using Cronbach's alpha coefficient and principal factor analysis respectively, and seven hypotheses were tested through performing correlation test and multiple regression analysis. The results from data analysis demonstrated that timeliness and convenience of homepage have positive effects on both corporate image and customer loyalty. In terms of DM, its' information quality was represented to influence both corporate image and customer loyalty, but we found its' convenience have a positive effect only on corporate image. With respect to online community, we found its timeliness contribute significantly both to corporate image and customer loyalty. Finally, as we expected, corporate image was revealed to provide a great influence to customer loyalty. This paper provides several academic and practical implications. Firstly, we think our research reinforces CRM literatures by developing the instruments for measuring information service quality. The previous relevant studies have mainly depended on the measurements of information quality or service quality which were developed independently. Secondly, the fact that we conducted our research in a real situation may enable academics and practitioners to understand the effects of information services more clearly. Finally, since our study involved three different types of information service which are most frequently applied in recent years, the results from our study might provide operational guidelines to the companies that are delivering their customers information by multi-channel. In other words, since we found that, in terms of customer loyalty, the key areas would be different from each other according to the types of information services, our analysis would help to make decisions such as selecting strengthening points or allocating resources by information service channels.