• Title/Summary/Keyword: Physical Market

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The credit market of Russia: the assessment of condition, the development of tendency

  • Vyborova, E.N.
    • East Asian Journal of Business Economics (EAJBE)
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    • v.5 no.2
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    • pp.12-37
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    • 2017
  • The analysis of results of the market of loans granted to legal entities, the physical persons are provided in the work. The assessment of condition of industry segments of the market of the credits of legal entities is carried. The results of assessment of the market of the credits of physical persons by types of the granted loans are provided. The correlation and regression analysis on the industry segments of crediting of legal entities is carried out. The dynamics of development of debt on the industry segments of crediting is determined. The results show that: Hypothesis 1. The amount of the issued credits to the legal entities steadily in-creases on all industries of economy. Communication between the industry segments of market very high. Hypothesis 2. Crediting of physical persons is characterized by relative stability. The structure of overdue debt repeats the structure of the issued credits to the physical persons.

Studies on Corporate Value of International Physical Distribution (국제 물적유통의 기업적 가치 고찰)

  • KIM, Jin-Hwan
    • Journal of Distribution Science
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    • v.17 no.10
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    • pp.115-123
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    • 2019
  • Purpose - The purpose of paper is to examine into corporate value of international physical distribution, which is closely related with company that is running business based on competitive power. It is good for company to gain a competitiveness throughout activities from international physical distribution, then it increases corporate value after all. Then it will be looked at how international physical distribution can influence competitiveness of company in terms of corporate value. Research design, data, and methodology - The research method to be described is first to identify concept of international physical distribution theoretically, including characteristics and structure, and then to review corporate value of international physical distribution to make company be competitive. As far as general landscape of international logistics is concerned, it is investigated into function and role of service provider, user and market situations. However, it is well proved that current market of international physical distribution is stable and bright, which means it is possible to take foreseeable future as well. Then company can share with corporate value of international physical distribution provided from logistics service provider. Results - To achieve corporate value throughout process of international physical distribution is strongly connected with competitive status of logistics service providers, those are carriers and infrastructures, and third party logistics providers. Especially in order to inquire into competitive aspects of international physical distribution in this paper, it is focused on trade volumes and overcapacity of global shipping market. Unlike it is used to be, more optimistic and positive situation has been shown since 5 years ago from the year of 2018, which means carriers make a business well, leading company to be more competitive. Conclusions - Corporate value of company in terms of international physical distribution is closely involved with competitive situations in the physically distribution, especially shipping market, which service providers can paly a key role in this regards. It can be estimated that the more market of international physical distribution works, the more competitiveness of companies increases. Ocean carriers in shipping market of international physical distribution are doing actively business well, and the corporate value can be materialized in favor of company.

The Impact of Market Environments on Optimal Channel Strategy Involving an Internet Channel: A Game Theoretic Approach (시장 환경이 인터넷 경로를 포함한 다중 경로 관리에 미치는 영향에 관한 연구: 게임 이론적 접근방법)

  • Yoo, Weon-Sang
    • Journal of Distribution Research
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    • v.16 no.2
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    • pp.119-138
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    • 2011
  • 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.

    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 (${\delta}_{N_i}$).
    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 (b). Countries like Ukraine and Bulgaria, or the market for "experience goods" such as shoes, could be examples of this market condition. summarizes the various scenarios of consumer distributions analyzed in this study. The range for disutility of using the Internet (${\delta}_{N_i}$) is held constant, while the range of consumer distribution (${\chi}_i$) varies from -25 to 25, from -50 to 50, from -100 to 100, from -150 to 150, and from -200 to 200.
    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.
    illustrates how this happens. When mangers consider the overall impact of the Internet channel, however, they should consider not only channel power, but also sales volume. When both are considered, the introduction of the Internet channel is revealed as more harmful to a physical retailer in Russia than one in Hong Kong, because the sales volume decrease for a physical store due to Internet channel competition is much greater in Russia than in Hong Kong. The results show that manufacturer is always better off with any type of Internet store introduction. The independent physical store benefits from opening its own Internet store when the average travel cost is higher relative to the disutility of using the Internet. Under an opposite market condition, however, the independent physical retailer could be worse off when it opens its own Internet outlet and coordinates both outlets (RI). This is because the low average travel cost significantly reduces the channel power of the independent physical retailer, further aggravating the already weak channel power caused by myopic inter-channel price coordination. The results implies that channel members and policy makers should explicitly consider the factors determining the relative distributions of both kinds of consumer disutility, when they make a channel decision involving an Internet channel. These factors include the suitability of a product for Internet shopping, the level of E-Commerce readiness of a market, and the degree of geographic dispersion of consumers in a market. Despite the academic contributions and managerial implications, this study is limited in the following ways. First, a series of numerical analyses were conducted to derive equilibrium solutions due to the complex forms of demand functions. In the process, we set up V=100, ${\lambda}$=1, and ${\beta}$=0.01. Future research may change this parameter value set to check the generalizability of this study. Second, the five different scenarios for market conditions were analyzed. Future research could try different sets of parameter ranges. Finally, the model setting allows only one monopoly manufacturer in the market. Accommodating competing multiple manufacturers (brands) would generate more realistic results.

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  • A study on the physical security market economy revitalization plan (물리보안 시장경제 활성화 방안에 관한 연구)

    • Min Su Kim
      • Convergence Security Journal
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      • v.23 no.2
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      • pp.115-120
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      • 2023
    • In the domestic physical security (mechanical security) market, there is an increasing variation in the expansion of security areas due to the infrastructure of large enterprises and small and medium-sized enterprises. In other words, problems related to on-site dispatch between companies are constantly being raised due to the limitation of physical security service s to the scope of dispatch according to the dispatch time. Therefore, in this study, based on the results of the criteria for the scope of dispatch as a criterion for dispatch time through simulations related to on-site dispatch, we propose a plan to activate the physical security (mechanical security) market in the future.

    Fast-fashion retailers - Types of online-based internationalization -

    • Lee, Jung Eun
      • The Research Journal of the Costume Culture
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      • v.27 no.1
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      • pp.33-45
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      • 2019
    • This study identified types of online retail internationalization in the fast-fashion context and proposed driving factors of retailers' choices in online-based market entry following the logic of the Uppsala model and the eclectic theory. In particular, this study proposes three types of online-based internationalization: 1) entering a host market with a physical store first, and then expanding with an online store, 2) entering a foreign market with an online store, then expanding to physical stores, and 3) entering only with an online business. In addition, this study investigated the causal factors, ownership-specific and location advantages, that influence the choice of the type of developmental process of online-based internationalization. To develop theoretical and managerial insights into the issue researched, this study employed a qualitative research design involving case studies of three European fast-fashion retailers, H&M, TOPSHOP, and ASOS. This study suggested that fast-fashion retailers that enter a host market with high ownership-specific advantages are likely to choose to enter the market with physical stores and then expand with online stores. On the other hand, when faced with uncertainties attributable to low ownership-specific or location advantages, fast-fashion retailers are likely to choose to enter with an online store first and then expand with physical stores as conditions change. Consequently, this study provides a better understanding for fast-fashion retailers who are willing to expand their businesses to foreign markets via online stores.

    The Effect of Marketing Communication and Store Loyalty in Traditional Markets: Focusing on Shopping Value and Shopping Experience (마케팅 커뮤니케이션이 점포 충성도에 미치는 영향: 쇼핑가치와 전통시장 이용경험을 중심으로)

    • Song, Mu-Yeung;Yang, Hoe-Chang
      • Journal of Distribution Science
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      • v.10 no.11
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      • pp.71-77
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      • 2012
    • Purpose - This study examined marketing communication in traditional markets by assessing consumers demonstrating brand loyalty through repeat purchases despite active marketing by competing brands hence, showing that the brand did not lose customers owing to communication. Specifically, this study examined the effects of marketing communication factors in traditional markets upon consumers' store loyalty and to determine consumers' practical and hedonic values, as moderating variables. Moreover, this study determined that both experienced and inexperienced consumers in traditional markets could similarly assess the market and examined the outcome of traditional market development as well as future strategies. Research design, data, methodology - To verify the relationship between marketing communication and store loyalty, and the moderating effects of shopping value, data were collected from 230 consumers in the Gyeonggi Province to test the theoretical model and its hypotheses. Although the field of distribution management typically uses two research methodologies, this study was conducted using empirical methodology. Specifically, analysis of variance and hierarchical regression analysis were used to test the hypotheses. Results - Consumers who had experienced the traditional market placed a greater emphasis on the physical environment or word-of-mouth marketing. Moreover, other factors apart from advertising had a significantly positive influence upon marketing communication sub-factors and store loyalty. Word-of-mouth marketing was found to be more important than other factors, therefore affirmative word-of-mouth marketing was considered important from various viewpoints. The study investigated the moderating effects of hedonic value and practical use value in the relationship between marketing communication sub-factors and store loyalty: The negative influence of publicity, physical environment, and word-of-mouth marketing was considered to be statistically significant. Conclusions - Consumers who made use of the traditional market did not think of the physical environment in an affirmative way, and consumers who did not make use of the traditional market perceived it as having a poor physical environment. However, consumers who engaged in word-of-mouth marketing experienced the traditional market in an affirmative way. Consumers who made use of the traditional market had significantly high hedonic value and/or practical use value, therefore future strategies should encourage consumers to make more use of the traditional market. Consumers who had experienced the traditional market demonstrated strong market loyalty. For consumers who did not make use of the traditional market, marketing communication was likely to influence store loyalty in a different manner from a practical perspective. In other words, marketing communication was needed to develop the traditional market, and consumers who did not make use of the traditional market should be given the opportunity to do so. Consumers having low hedonic values experienced high publicity to have high store loyalty, and consumers who experienced good facilities of the traditional market had high store loyalty (Nam & Jun, 2011). Consumers with low hedonic values as well as those with high hedonic values on the traditional market could have high store loyalty through affirmative word-of-mouth marketing.Therefore, various types of events and strategies were needed to enable consumers to experience the traditional market in an affirmative way.

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    Mothers' Time Use in Child Care and Market Child Care Services Depending on Their Employment Status (유아기자녀를 둔 어머니의 종사상지위별 자녀돌보기 시간사용과 유료 자녀양육서비스 선택)

    • Cha, Sung-Lan
      • Korean Journal of Human Ecology
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      • v.15 no.3
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      • pp.373-384
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      • 2006
    • This study analysed the effect of mothers' work status on time use in child care and use of market child care services. There were two major questions: Do self-employed (and family worker without being paid) mothers have a flexible work schedule and so can they care her child(ren) well? If it is true, is the work status as self-employee related to non-market child care services? To answer these questions, 1,196 samples were selected from the Time Use Data of 1999, which had been administered by Korea National Statistical Office. Major results were as follows: First, a mother who is family workers without being paid made time to care children frequently more than wage earners. Second, according to regression analysis, mothers' work status was one of the important variables to explain child care activity frequency. Third, among categories of child caring ('physical caring', 'non-physical caring', and 'caring of the others'), mothers spent more frequently in 'caring of the others', and had higher probability to use market child care services. But the more frequently a mother made time in 'non-physical caring' for her child, the lower probability to choose market child care services. In conclusion, it was certain that self-employed mothers benefit from a flexible time schedule at work places. But the relationship of child care activity frequency with use of market child care services was inconsistent.

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    A Study on Activation methods of Traditional Market in Jinju City -Focused on Joongang and Seobu Market- (진주시 전통시장 개선방안 연구 -중앙시장과 서부시장을 중심으로-)

    • Kang, Seok-Jin
      • Journal of the Korean Institute of Rural Architecture
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      • v.17 no.1
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      • pp.1-8
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      • 2015
    • The purpose of this study is to consider activation methods of traditional markets in Jinju city through questionnaire and field survey. Research framework is summarized into two categories: physical environment and operation program. The results are as follows: 1) the gross profit on sales has been decreased continuously and the main causes of that have been recognized as insufficiency of parking lots and convenient facilities and deterioration of environment in spite of facilities modernization project; 2) consumers visited a traditional market because of proper price and reliance on goods, etc. However, they were not satisfied with the physical environment such as parking lots and resting spaces and the operation program such as cultural event and performance. In conclusion it was thought that activation methods of traditional market would be related to the improvement plan in the physical aspect such as parking lots, walkway, convenient and crime prevention facilities and in the operation program aspect such as cultural event, marketing, management consulting, information infrastructure, and delivery system.

    Development of Health Indices and Market Segmentation Strategies for Senior Health Services

    • Shin, Jeong-Hun
      • The Journal of Industrial Distribution & Business
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      • v.9 no.11
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      • pp.7-15
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      • 2018
    • Purpose - This study surveys factors such as lifestyles, nutritional status, physical indicators, and physical fitness levels that affect the health of seniors over the age of 65 and based on the collected data attempts to create a senior health index model that provides health service information, help support seniors' successful aging, and improve their quality of life. Research design, data, and methodology - This paper conducted the development for senior health index model and the cross validity verification to examine the status of senior health level, and aimed at setting the health status evaluation criteria. Seniors 384 usable data were analyzed. Results - As an attempt to segment the senior health service market, I divided the results of this study based on measurability, accessibility, disparity between groups, and the size of the potential client base. I divided the senior market into five subgroups: very healthy, healthy, normal, weak, and very weak. Conclusions - The findings of this study may prove useful in preparing for the forthcoming super-aged society through segmentation of the senior market, understanding differences between groups with different health conditions, and discovering effective marketing strategies that meet the demands of different senior groups.

    Scaling of the Price Fluctuation in the Korean Housing Market

    • Kim, Jinho;Park, Jinhong;Choi, Junyoung;Yook, Soon-Hyung
      • Journal of the Korean Physical Society
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      • v.73 no.10
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      • pp.1431-1436
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      • 2018
    • We study the scaling of the price fluctuation in the Korean housing market. From the numerical analysis, we show that the normalized return distribution of the housing price, P(r), has a fat-tail and is well approximated by a power-law, $P(r){\sim}r^{-({\alpha}+1)}$, with ${\alpha}{\simeq}3$ for the whole data set. However, if we divide the data into groups based on the trading patterns, then the value of ${\alpha}$ for positive tail and negative tail can be different depending on the trading patterns. We also find that the autocorrelation function of the housing price decays much slower than that of the stock exchange markets, which shows a unique feature of the housing market distinguished from the other financial systems.


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