• Title/Summary/Keyword: Sales strategy

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Choice-based Conjoint Analysis of Consumer Preferences for Health Food Attributes Focused on Vitamin C Supplements (선택형 컨조인트 분석을 통한 건강기능식품 속성의 소비자 선호에 관한 연구: 비타민 상품을 중심으로)

  • Kim, Tae-Hoon;Kim, Bo-Yong
    • Journal of Distribution Science
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    • v.13 no.3
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    • pp.79-91
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    • 2015
  • Purpose - First, the study identifies and analyzes consumer preferences with regard to health foods and supplements. Second, it identifies and analyzes consumer preferences with regard to the properties of Vitamin C supplements. Third, in order to provide a basic data for the development of Vitamin C supplements and to measure how consumers value the properties of different Vitamin C products, a consumer survey was conducted through the choice-based conjoint model. Based on the results, the research estimates consumers' relative product-related priorities as well as price levels and willingness to pay (WTP) for different product types, and makes suggestions regarding consumer-oriented new product development and progressive directions for the successful launch of health foods and supplements. Research design, data, and methodology - This study aims to define the attributes of health foods and supplements based on several characteristics including their natural ingredients, product price, product originality, natural ingredient content, and additional functional ingredients, and makes suggestions regarding strategic market pricing and product development for health foods and supplements according to customer attitudes and characteristics. The research used choice-based conjoint analysis methodology based on the Multinomial Logic Model and collected 94 questionnaires filled out by users of Korean Vitamin C supplements. Results - Product price is the most influential factor among the five analyzed properties. When consumers buy Vitamin C products, the relative significance level of four of the examined properties is as follows: 40.9% for product price, 23.3% for product originality, 21.9% for natural ingredient content, and 13.9% for additional functional ingredients. Vitamin C content is excluded as it is not a statistically significant factor. It is interesting that supplement manufacturers and retailers consider Vitamin C content to be very important whereas consumers do not regard it as an important factor at the time of purchase. The results for the marginal willingness to pay (MWTP) for each property of Vitamin C supplements show that consumers are willing to pay an additional 11,146 Korean won for a 50% increase in the natural ingredient content. With regard to product originality, consumers are willing to pay an additional 11,301 Korean won for products manufactured in Europe than for products manufactured in China. Moreover, consumers show a greater preference for products manufactured in Korea than in Europe. However, consumers are not willing to pay more for additional Vitamin C or additional functional ingredients added to Vitamin C products. Conclusions - According to the results of consumer research on Vitamin C supplements, which represent a popular health food supplement in Korea, most Korean health food and supplement companies are not consumer- or market-oriented when developing new products. Companies gather information from either R&D specialists or sales managers and their opinions are highly reflected in new product development. The study's results will help companies recognize the importance of understanding consumers' unmet needs in advance to develop new products in the future.

The effects of fashion product salesperson's emotional dissonance and emotional intelligence on prosocial behaviors - Focused on the salesperson at the department store - (패션제품 판매원의 감정부조화와 감정지능이 친사회적 행동에 미치는 영향 - 백화점 판매원을 중심으로 -)

  • Lee, Kyungbok;Chung, Myungsun
    • The Research Journal of the Costume Culture
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    • v.22 no.5
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    • pp.794-808
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    • 2014
  • This research aimed to examine the effect of emotional dissonance and emotional intelligence on the prosocial behavior of fashion salespeople in department stores, and whether emotional intelligence mediates the relationship between emotional dissonance and prosocial behavior. Moreover, we aimed to suggest a method to improve the prosocial behavior of salespeople as a strategy to obtain a continuous competitive advantage in an increasingly competitive fashion distribution environment. This research was conducted through a questionnaire survey, and 345 responses were collected from department store salespeople for the final analysis. First, the analysis results showed that the emotional dissonance of salespeople arose from their dealings with their organization and with customers. Prosocial behavior was deduced to be a factor of the cooperation with coworker and extra-role customer service. The emotional intelligence was deduced to be a factor of the use of emotion, regulation of emotion, self-emotion appraisal, and others'emotion appraisal. Second, with a higher level of emotional dissonance against the organization, there was less cooperation with coworker, while a higher emotional dissonance against customers resulted in increased cooperation with coworker. Third, it appeared that with a higher level of emotional dissonance against the organization, there was a higher utilization of use of emotion, self-emotion appraisal, and others'emotion appraisal of emotional intelligence. Fourth, as the regulation of emotion, self-emotion appraisal, and use of emotion were higher, there was more cooperation with coworker, whereas an increase in the utilization of one's own emotion and emotional control resulted in a higher level of extra-role customer service. Finally, emotional intelligence has a significant mediating effect between emotional dissonance and prosocial behavior. The above results suggest that for department stores to improve the prosocial behavior of their sales staff requires the establishment of a method to enhance the emotional intelligence of the staff. The results also indicate that there is a need for department stores to prepare a systemic tool to enable them to select people with a high degree of emotional intelligence when recruiting salespeople.

Brand Marketing Strategy of Live Streaming in Mobile Era : A Case Study of Tmall Platform

  • Liu, Lin;Aremu, Emmanuel Olugbemisola;Yoo, Dongwoo
    • Journal of East Asia Management
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    • v.1 no.1
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    • pp.65-87
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    • 2020
  • In recent years, with the rapid development of network live streaming, with the popularization of mobile Internet and mobile terminal equipment, the live streaming industry has ushered in great development. A sudden outbreak of the COVID-19 makes the PC end live streaming which has been developed for many years enter a new era, giving birth to the rapid development of mobile end live streaming. Not only because of the expansion of the live streaming industry market, the rise of the trend of the national live streaming, but also because the mobile live streaming is more and more valued by the brand, becoming an important tool for brand communication and product promotion. It is because of its unique communication characteristics that some scholars believe that the era of precision marketing has been opened by live network. Mobile live from the initial fans to reward and promote the brand, to now in the form of live marketing, consumers can "buy while watching". The time period from the understanding of the goods to the final completion of the purchase behavior has been greatly shortened. It is conducive to improving sales volume and brand awareness. Marketing communication through mobile live platform has become a popular way of brand marketing. This paper mainly studies the current situation, methods, problems and development strategies of brand marketing activities with the help of live streaming platform under the background of mobile internet. Taking Tmall live streaming platform as an example, this paper analyzes several ways of brand marketing with the help of live streaming and some universal characteristics of live streaming marketing by using the relevant theories of marketing. In view of the problems existing in live streaming brand marketing, it puts forward relevant Improvement measures. First of all, the paper puts forward the innovation in content and form. Second, the paper suggests that we should make full use of new technologies such as AR and VR to effectively combine with mobile live broadcasting. Third, the paper explores the integration of multiple channels to create intelligent marketing, and further optimize the live interface of mobile terminals. Finally, the paper emphasizes that the government departments and the platform itself should jointly supervise the mobile network live streaming platform and establish a good live broadcasting environment for mobile terminals. With the help of mobile live streaming, the marketing mode has an important impact on the promotion of brand marketing. How to make better use of this business mode and accurately use mobile live broadcast to promote brand marketing, so that enterprises can create greater profits, is also of profound research significance.

A Study on the Effect of Brand Familiarity and Brand image on Intending Purchase and Revisiting by Coupon Property. -Focused on Chicken Speciality Store- (쿠폰특성에 따른 브랜드 친숙도와 브랜드 이미지가 구매 의도와 재 방문 의도에 관한 연구 - 국내 치킨 산업을 중심으로 -)

  • Shin, Gun-Chu;Jang, Jae-Nam
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.11 no.1
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    • pp.295-306
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    • 2010
  • The company have get the most out of coupon that is very useful to draw on consumer with sensitive the price, low the br loyalty to induct the direct buying intention. The effect of the coupon is a hard fact to an aid of working out successful strategy by the results that many scholar studied for long time. But the results of research was centered upon examining to influence br image company's sales, gains for guessing exchange action of coupon. Antecedent researches of our country is a lot of coupon combination discount card for drawing on revisiting making new consumer. The purpose of the study is to identify how to influence br familiarity br image into intending purchase revisiting by coupon property. In this study, collage man, worker located in Seoul Kyunggi province were sampled by convenience sampling. As a result, Br familiarity br image affect affirmatively intending purchase revisiting by coupon property.

A Study on the Visual Merchandising of Traditional Markets in Urban Regeneration (도시재생 과정을 통한 전통시장 비주얼머천다이징 성공사례 연구)

  • Lim, Jeanny;Lee, Jeong-Min
    • Journal of Distribution Science
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    • v.12 no.12
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    • pp.55-63
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    • 2014
  • Purpose - In urban regeneration projects, considerations for rejuvenating traditional public markets are becoming increasingly important. That is because the traditional market is not just a commercial space but also a living center for local people's existence. Cultural contents like these are invaluable assets in the contemporary economy. However, traditional markets are gradually declining because of changes in distribution systems and consumer lifestyles. New distribution systems such as modern distribution markets, home shopping, and online shopping malls made traditional markets less competitive. Further, traditional markets have not been able to adapt to the changing consumption styles of younger generations. Some say that it is a natural phenomenon that cannot be stopped. However, traditional markets are not just another distribution system but also a valuable resource that encapsulates the local people's tradition and history. Thus, a revitalization strategy for traditional public markets has become an urgent task in contemporary urban regeneration projects. This study aimed to find ways to activate traditional public markets by making it a community landmark based on visual merchandising perspectives. Research design and methodology - This study focused on analyzing Granville Island (Vancouver, Canada) as a role-model project for rejuvenating the traditional market. It investigated Granville Island both with walk-through evaluation and literature reviews. Results - We found that it has been developed not only to improve visual aspects, but also to promote cultural contents with high value added. For example, the developers maintained the visual elements that tell the original history of the site as an industrial factory. The renewal project had a balance between improving the outer look and creating attractive contents. The following are the merits of Granville Island that Korean traditional markets should note. First, they kept the whole area clean and hygienic. Second, merchants are well educated, business-savvy, and consumer-oriented. Third, the area's total environmental designs were done by professionals of a high caliber. Fourth, the city government and the merchants'association were collaborating well in their efforts to accommodate the changing needs of consumers. Conclusions - This study made the following suggestions as a conclusion. First, it will be a very powerful tool to rejuvenate the traditional market if we can discover unique cultural resources and develop them as cultural products, experiences, and events. Consumers of the 21st century have a strong tendency to consume not only material products, but also the experiences and memories attached to them. Second, in order to maintain the unique characteristics of traditional markets, fostering the viability of the merchants' association and local residents' society would be essential. Third, it is necessary to make the traditional market into a cultural place not only for the shopping patronage of local residents, but also for attracting tourists to increase sales. Finally, professional management and design approaches are needed in order to make the traditional market a pleasant space from a visual merchandising standpoint.

Using Choice-Based Conjoint Analysis in the China Market of Imported Beer (선택형 컨조인트 분석을 이용한 중국 수입맥주 시장에 관한 연구)

  • Gao, Zhihua;Wu, Zhangjian;Gao, Feng;Zhang, Jun
    • The Journal of Industrial Distribution & Business
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    • v.9 no.6
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    • pp.57-64
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    • 2018
  • Purpose - With the rapid economic development, great changes have happened in the Chinese beer market. The scale of imported beer is increasing. However, the sales of native Chinese beer decrease in recent years. It is because more Chinese customers prefer beer with unique attributes than those with lower prices. In order to take an advantage in this market, practitioners should develop new products to satisfy Chinese customers. Scholars have also focused on beer characteristics to estimate consumers' behavior for improving the development of beer industry. However, most studies are theoretically centered on marketing strategy management or general understanding of the market. It is not enough for us to explain customers' consumption patterns. Some empirical research did attempt to find out beer attributes that may influence their choice behavior. However, they failed to verify what can increase customers' utility through a new product. More importantly, few evidences can be found in the literature. Therefore this study explores the major characteristics of imported beer which may associate with customers' preferences. Research design, data, and methodology - With the results of literature review and focus group interview, we found out four main imported beer attributes and the levels of each factor. A pre-test is constructed to check the problems in the questionnaire protocol. With the results of pre-test, the revised questionnaire is processed among customers who have purchased and had imported beer in China regions such as Beijing, Shanghai, Jiangsu, Guangdong and so on. The choice-based conjoint analysis is applied to analyze the useful data of 205. Results - Results indicate that choice-based conjoint analysis is the effective method to estimate customers' choice behavior. Results also indicate that country of origin, price, taste, and package affect customers' preference and the importances of imported beer attributes are significantly different. Conclusions - Country of origin, price, taste, and package are important for customers to make an imported beer choice decision. Marketers should consider these determinants and their importance to develop new products. Moreover, choice-based conjoint analysis should be the useful method for practitioners to develop a new product of imported beer for sustainable business in the competitive industry.

A Fashion Design Recommender Agent System using Collaborative Filtering and Sensibilities related to Textile Design Factors (텍스타일 기반의 협력적 필터링 기술과 디자인 요소에 따른 감성 분석을 이용한 패션 디자인 추천 에이전트 시스템)

  • 정경용;나영주;이정현
    • Journal of KIISE:Computing Practices and Letters
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    • v.10 no.2
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    • pp.174-188
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    • 2004
  • In the life environment changed with not only the quality and the price of the products but also the material abundance, it is the most crucial factor for the strategy of product sales to investigate consumer's sensibility and preference degree. In this perspective, it is necessary to design and merchandise the products in cope with each consumer's sensibility and needs as well as its functional aspects. In this paper, we propose the Fashion Design Recommender Agent System (FDRAS-pro) for textile design applying collaborative filtering personalization technique as one of the methods of material development centered on consumer's sensibility and preference. For a collaborative filtering system based on textile, Representative-Attribute Neighborhood is adopted to determine the number or neighbors that will be used for preferences estimation. Pearson's Correlation Coefficient is used to calculate similarity weights among users. We build a database founded on the sensibility adjectives to develop textile designs by extracting the representative sensibility adjectives from users' sensibility and preferences about textile designs. FDRAS-pro recommends textile designs to a customer who has a similar propensity about textile. To investigate the sensibility and emotion according to the effect of design factors, fertile designs were analyzed in terms of 9 design factors, such as, motif source, motif-background ratio, motif variation, motif interpretation, motif arrangement, motif articulation, hue contrast, value contrast, chroma contrast. Finally, we plan to conduct empirical applications to verify the adequacy and the validity of our system.

Study on analysis of the Corporate requirements and CPND Value chain for e-book Market Activation (전자책 시장 활성화를 위한 기업 요구사항과 CPND 가치사슬 분석)

  • Na, Yun-Bin;Yu, Jong-Sun;Lee, Seoung-Ha
    • Journal of Digital Convergence
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    • v.14 no.4
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    • pp.163-171
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    • 2016
  • This study derived the policy implications and market strategies by analysis the e-book companies requirements & the CPND value chain structure, in order to revitalize the e-book market in Korea. Specifically, we examined the prospect of e-book market in Korea, current situations of production and distribution, awareness of service utilization and requirements for support policy with targets of 30 companies. As a research, the most needed item for e-book companies is 'PR and marketing support to enter and open the markets'(27%), which is the highest. 'Financial support such as labor costs and business expenses', 'support for retraining personnel to develop the expertise in respective fields' are followed and they account for 22%. Currently, the most effective support item is the external support program(35%) and funding power(30%) is followed. Unlike a paper book market, e-book is turned into a platform business in terms of the value chain. Based on these research content, e-book market activation and corporate competitive strategy was derived as follows : 1)literacy reinforcement about SNS marketing and e-pub3 authoring tool. 2)statistical DB construction of retail sales channels. 3)diversification of the billing system. 4)The quality of the e-book content certification.

Effect of Perceived Value on Memories, Attitudes, and Loyalty: Social Enterprise Products (사회적기업 제품의 지각된 가치가 기억, 태도, 그리고 충성도에 미치는 영향)

  • Park, Sang-Keum;Lee, Yong-Ki;Yoo, Dongkuen
    • Journal of Distribution Science
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    • v.13 no.12
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    • pp.73-84
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    • 2015
  • Purpose - Various social issues have arisen since the beginning of the 21st century therefore, enterprises that disregarded social issues have become unsustainable, and social enterprises have appeared to address these issues. A social enterprise is a social mission-focused organization that uses a market-based strategy and has a vulnerable business structure. To be self-sustainable, a social enterprise should make consumers aware of the value that it provides and secure its profitability through consumer consumption. From this perspective, this study investigates the relationship between perceived value (utilitarian and hedonic) and loyalty, and examines how memory and attitudes play mediating roles between perceived value and loyalty. For these purposes, the author developed a structural model consisting of several variables. In this model, perceived value, which was utilitarian and hedonic, was proposed to affect the memory and attitudes toward social enterprise products, thus increasing loyalty. Therefore, memory and attitudes were proposed as core mediating variables between perceived value and loyalty. Research design, data, and methodology - To analyze the proposed model, data were collected from 582 respondents and analyzed using SPSS 21.0 and AMOS 21.0. To test unidimensionality and the nomological validity of the measures of each construct, we employed a scale refinement procedure. The results of the reliability test with Cronbach's α and confirmatory factor analysis warranted the unidimensionality of the measures for each construct. In addition, the nomological validity of the measures was warranted from the results of the correlation analysis. The result of the overall model analysis demonstrated a good fit (χ2=529.881, df=144, χ2/df=3.680, p-value=0.000, GFI=0.905, NFI=0.948, CFI=0.961, RMR=0.036, RMSEA=0.068). Results - The findings are summarized as follows. First, the hedonic and utilitarian value of social enterprise products had positive effects on memory and attitudes. Second, the hedonic value of social enterprise products more strongly affects memory and attitudes than utilitarian value. Third, memory and attitudes had positive effects on loyalty. Lastly, memory had a stronger effect on loyalty than attitudes. Conclusions - The purchase rate of social enterprises' products increases only if the products are included in the "information search" and "alternative evaluation" processes in consumers' purchase decision-making processes. Therefore, a social enterprise must actively promote the fact that it pursues a social value, and shares both the hedonic and utilitarian values of its products. Accordingly, because hedonic value has a more significant impact on a company and attitudes, a social enterprise should develop hedonic values for product consumption, thereby leading consumers who care about value consumption to purchase its products. Moreover, a social enterprise must maintain good memories and attitudes for consumers because memory does not change over time, although attitude does. The limitations of this study and suggestions for future research are as follows. This study viewed "consumer loyalty" as the success factor of social enterprises, thereby considers an "increase in sales" as the success factor. Therefore, in future studies, diverse factors, including social contribution and word-of-mouth intention, should be regarded. In addition, future studies need to thoroughly review and make assurances about the relationship between memory and attitude.

Successful Winning Award Factors in Early Stage of International Public Private Partnership Projects (해외개발사업 발굴단계의 수주성공요인 분석)

  • Jung, Wooyong;Han, Seungheon
    • Korean Journal of Construction Engineering and Management
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    • v.18 no.3
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    • pp.84-94
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    • 2017
  • Recently, domestic construction companies have increasingly engaged in international PPP projects a result of both uncertainties in the domestic construction market and low competitiveness in international EPC project business. These international PPP projects usually require long-term preparations and substantial sales costs, which make it important for decision-makers to select winning-award potential project in early stage of the projects. However, most previous research has analyzed success factors in terms of project development across all stages. Thus, this study investigated 28 success factors of 4 categories in the early stage of 31 international PPP projects. First, results indicate that unsolicited PPP projects require better implementation capabilities and financial conditions compared to solicited PPP projects. Second, implementation capability is important because it is not easy to improve as the project proceeds. Third, commercial conditions are identified as important even if conditions are not fixed in the early stage of PPP projects. Fourth, non-commercial conditions, strategy, and public interest are not found to be meaningful in the early stage of PPP projects because they can vary as the project proceeds. This study helps to improve selection criteria aimed towards more winning-award potential project in the early stage of international PPP projects.