• Title/Summary/Keyword: Targeting Global Market

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Case Study on Standards Management: Focused on Small and Mid-sized Businesses (기업의 표준 경영 사례 연구: 국내 중소중견기업을 중심으로)

  • Jun, Byoung-Ho
    • Journal of the Korea Convergence Society
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    • v.8 no.8
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    • pp.239-246
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    • 2017
  • Standards offer numerous opportunities and benefits not only to provide effective and efficient way for business goals internally, but also to increase company's competitiveness externally. However SMBs can't get have benefits from standards management due to lack of resources and awareness. The purpose of this study is to investigate the role of standard management in business hierarchy from SMBs' cases leading to raising the awareness and providing strategic implications for standards management. The utilization of Standards management was investigated by adopting Anthony framework and Miles and Snow typology targeting SMBs which have awarded the World Standards Day Prize. The results of case study indicated that standards can be used as not only a strategic tool for achieving business goal and but also an effective way for raising brand awareness in global market. This study has originality and practical value in that it enhances the awareness and provides strategic implications for standards management in global business environment.

Innovative Marketing Channel in the South Korean Retail Banking Industry: The Case of KB Rockstar

  • Chung, Hwan;Kim, Sang Yong;Yoo, Changjo
    • Asia Marketing Journal
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    • v.15 no.1
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    • pp.23-42
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    • 2013
  • To overcome the profitability challenge these days, many global banks are increasingly focusing on cost efficiency through more efficient banking processes, such as online and mobile banking, whereas a number of other banks choose to differentiate their services for retaining and attracting the most valuable customer segment (Deloitte, 2011). While global banks in the retail banking industry are adopting either of these two business models as a strategic choice for their long-term growth, KB Kookmin Bank, one of the leading retail banks in South Korea, has begun to operate 'KB Rockstar' as a strategic channel, particularly designed to target college students in the youth market. The new marketing strategy has resulted in a positive impact on its brand image in customers' perception as well as a drastic increase in the number of youth customers. In this study, we analyze the case of 'KB Rockstar' and summarize the key factors for its success from a marketing perspective. First, 'KB Rockstar' is not simply a good channel strategy, but an innovative marketing strategy that aligns place, product and promotion together in order to create a synergy effect, resulting in the successful implementation of the bank's targeting strategy. Second, the strategy effectively establishes 'KB Rockstar' as a brand targeted to youth customers while also competently strengthening the image of the corporate brand, KB Kookmin Bank. The skillful implementation of organically combined marketing mix strategies has enabled the successful launch of the bank's sub-brand. Third, the strategy considers a retail bank branch as not only the place that makes sales transactions in order to generate short-term profits, but also the place that builds a long-term relationship with customers in order to maximize their lifetime values in the long run.

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Study of the effectiveness of a supporting model for the domestic online game industry to go abroad (국내 온라인 게임 기업의 해외진출지원 모델의 효율성 연구)

  • Joo, KiHwan;Moon, Nammee
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.9
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    • pp.5769-5775
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    • 2014
  • This paper reports the political supporting platform, and the outcome evaluation model, which was developed for the Korean on-line game companies that have started to go abroad to publish their games. When they begin to sell their games, they have many difficulties in promoting in other countries including the USA & EU. They try to find solutions to solve these problems, but on-line games still do not have a successful business model because of their unique attributes and environmental features, even though they spent a lot of money and time to enter the international on line game market. Thus far, the local on-line game supporting policy has tried to improve the world competitiveness of local companies by doing diverse activities, such as Global Service Platform(GSP) service, international game competition, and globalization, marketing. On the other hand, there has been only a small number of fruitful results except for GSP. Therefore, in this paper, the result of GSP was verified using the Global on-line game Supporting Chain Model(GoGSCM), which is the new political supporting and evaluation model through survey targeting GSP participations. As a result, GSP was evaluated based on the compatibility, efficiency, effectiveness, and continuity.

A Study on the Brand Characteristics According to Trends in the Children's Apparel Market

  • Han, Gyung-Hee
    • Journal of Fashion Business
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    • v.9 no.6
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    • pp.160-174
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    • 2005
  • Despite the decrease in the number of children due to low birth rate, the domestic children's apparel market has been achieving steady growth as family income is rising thanks to more opportunities for working women, parents spend more on their children, and they prefer brand products that make their children look special. In addition, the market is suffering from hard competition as large enterprises have joined the race. The present study purposed to survey the children's apparel market in Korea, which is in a transitional period, and to contribute to the development of the market with Korean brands. For this purpose, we analyzed the characteristics of children's apparel brands in the 21st century based on the current state of the domestic children's apparel market and, based on the findings, forecasted the future trend of children's apparel brands, suggested improvements for expected problems, proposed standards for coping with changes such as diversification, high quality and differentiation in the children's apparel market, and provided consumers with information on how to purchase products. According to the result of analyzing the characteristics of children's apparel brands in the 21st century, brands are categorized largely into four types - life cultural brands, functional product brands, character brands and brands advancing to China. Life cultural brands equipped with all necessities for children are expanding, and with the deepening social problems of environmental pollution and the reduction of the child population, functional products made of environment-friendly materials are spreading widely, targeting infants and children. Furthermore, for extending age targets and diversifying products, children's apparel is using characters. The use of characters is expected to have a considerable effect on the growth of brands because children are more subjective as consumers than before and they are more easily persuaded with characters. Domestic children's apparel brands advancing to China have a high expectation of success in overcoming the limitation of the local market that has reached its peak and growing into global brands. Korean apparel makers are struggling to overcome the depressed domestic market, to recover consumers' consumption, to cope with market opening, to pursue high value of sensibility and to expand the seniors' market, etc. In this situation, future trends of children's apparel brands will be the expansion of family brands, brand totalization, quality price, niche market (pre-teen market), etc. In response to these trends, we made the following suggestions for improvement. 1. Children's apparel brands are evolving into family brands as well as into total brands through voluming. Today, however, apparel makers are advancing to the children's apparel market with the concept of adults' apparel and, as a result, children's apparel is merely adults' apparel of reduced size, having problems in design, color and materials. Thus, apparel makers must develop design considering the wide range of size and the characteristics of children's apparel, strengthen sourcing abilities to create revenues, and make thorough survey of customers to find common denominators between adults' apparel and children's apparel considering that characteristic that the target class is different from the buyer class. Furthermore, they must make active investments in human resources, develop outstanding products through advanced planning and design, and support marketing techniques and management systems to stores. 2. As the declining birth rate will continue to have a negative effect on the market, it may be difficult to expand the market size but there is still a margin for growth through high-sensibility and high-quality products. The competitiveness of brands is determined by their market shares. Accordingly, concepts should be specialized according to lifestyle, customers' diverse needs should be satisfied, and cross-coordination should be achieved within a brand. 3. Considering Korean parents who do not spare investment in their children despite shrinking consumption, functional products must be high value-added goods that can enhance efficiency. However, in the current situation of the infants' apparel industry where a textile manufacturer supply its products to multiple brands, it is difficult to develop unique products only based on materials. Thus, it is considered urgent to appeal to consumers not by relying on materials only but by finding methods of applying their own characters to children's dress.

A Comparative Study on the Export Similarity Index (ESI) and Trade Competitiveness Index (TCI) of Korean Construction Machinery with China and the U.S.A (한국 건설기계의 수출유사성지수(ESI) 및 무역경쟁력지수(TCI) 연구 - 중국 및 미국과의 비교 분석을 중심으로 -)

  • Lee, Gyuseong;Li, Xiang;Shim, Sangryul
    • Korean Journal of Construction Engineering and Management
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    • v.23 no.2
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    • pp.16-23
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    • 2022
  • This study examined the trend of international competitiveness over the past 10 years (2011-2020), focusing on comparative analysis with China and the United States, targeting seven major export items of Korean construction machinery based on 6 units of HS code. To this end, the export similarity index and trade competitiveness index were calculated and analyzed using UN Comtrade and Korea International Trade Association trade statistics. As a result of the analysis, competition between Korea and China has intensified over the past decade, and competition with the United States has remained at a certain level. Korean forklifts (8427.20) are exporting to the world with strong competitiveness in the global market. Excavators (8429.52) and loaders (8429.51), which have the largest export share of Korean construction machinery, have a weight advantage, but they are exporting due to price inferiority. The rest of the items were found to be inferior in price and weight, and were not competitive in the global market. These analysis results suggest the following implications. First, it is necessary to strengthen efforts to expand exports of universal construction machinery items, which are expected to increase in demand in the future, by boosting the economy and expanding infrastructure investment in accordance with eco-friendly policies. Second, excavators, which have been shown to have a quality advantage and a price competitive advantage, need to further strengthen export marketing activities not only in China and the United States but also in emerging developing countries.

Implementation Strategy of Global Framework for Climate Service through Global Initiatives in AgroMeteorology for Agriculture and Food Security Sector (선도적 농림기상 국제협력을 통한 농업과 식량안보분야 전지구기후 서비스체계 구축 전략)

  • Lee, Byong-Lyol;Rossi, Federica;Motha, Raymond;Stefanski, Robert
    • Korean Journal of Agricultural and Forest Meteorology
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    • v.15 no.2
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    • pp.109-117
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    • 2013
  • The Global Framework on Climate Services (GFCS) will guide the development of climate services that link science-based climate information and predictions with climate-risk management and adaptation to climate change. GFCS structure is made up of 5 pillars; Observations/Monitoring (OBS), Research/ Modeling/ Prediction (RES), Climate Services Information System (CSIS) and User Interface Platform (UIP) which are all supplemented with Capacity Development (CD). Corresponding to each GFCS pillar, the Commission for Agricultural Meteorology (CAgM) has been proposing "Global Initiatives in AgroMeteorology" (GIAM) in order to facilitate GFCS implementation scheme from the perspective of AgroMeteorology - Global AgroMeteorological Outlook System (GAMOS) for OBS, Global AgroMeteorological Pilot Projects (GAMPP) for RES, Global Federation of AgroMeteorological Society (GFAMS) for UIP/RES, WAMIS next phase for CSIS/UIP, and Global Centers of Research and Excellence in AgroMeteorology (GCREAM) for CD, through which next generation experts will be brought up as virtuous cycle for human resource procurements. The World AgroMeteorological Information Service (WAMIS) is a dedicated web server in which agrometeorological bulletins and advisories from members are placed. CAgM is about to extend its service into a Grid portal to share computer resources, information and human resources with user communities as a part of GFCS. To facilitate ICT resources sharing, a specialized or dedicated Data Center or Production Center (DCPC) of WMO Information System for WAMIS is under implementation by Korea Meteorological Administration. CAgM will provide land surface information to support LDAS (Land Data Assimilation System) of next generation Earth System as an information provider. The International Society for Agricultural Meteorology (INSAM) is an Internet market place for agrometeorologists. In an effort to strengthen INSAM as UIP for research community in AgroMeteorology, it was proposed by CAgM to establish Global Federation of AgroMeteorological Society (GFAMS). CAgM will try to encourage the next generation agrometeorological experts through Global Center of Excellence in Research and Education in AgroMeteorology (GCREAM) including graduate programmes under the framework of GENRI as a governing hub of Global Initiatives in AgroMeteorology (GIAM of CAgM). It would be coordinated under the framework of GENRI as a governing hub for all global initiatives such as GFAMS, GAMPP, GAPON including WAMIS II, primarily targeting on GFCS implementations.

A Study on Segmenting of Cruiser Customers (관광유람선 고객의 시장세분화에 관한 연구)

  • Lee, Jun-Hyunk
    • Journal of Global Scholars of Marketing Science
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    • v.16 no.1
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    • pp.73-91
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    • 2006
  • This study was conducted for market segmentation of cruise tourist according to launching the "T" in Busan. Benefit segmentation was used to identify attributes of cruise services; importance of ship's physical appearance and importance of service and activities. 24 attributes were distilled to 5 factors: 'Facility & Service', 'Atmospherics of cruise ship', 'Escape', 'Choice', 'Safety'. A K-means cluster analysis identified three clustered segments for five importance factors in which high loyalty customers were found to be the most important segment. Based on the findings, three distinct groups were formed: 'Moderators', 'High Loyalty', 'Spurious'. The most important factors by high loyalty groups were identified 'Safety', 'Facility & Service', 'Atmospherics of cruise ship', 'Choice', 'Escape' in order. The results of the study showed statistically significant differences among the three groups in terms of demographic and behavioral variables. Especially, the target market should be considered by 'High Loyalty' group and 'Moderators' group in order. Positioning strategies and marketing mix strategies for effectively targeting the segments were discussed.

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Estimation of Consumer Value on Import Management of Seafood Obtained from IUU Fishing: Using Choice Experiment Method

  • Ji-Eun An;Se-Hyun Park;Heon-Dong Lee
    • Journal of Korea Trade
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    • v.27 no.2
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    • pp.115-129
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    • 2023
  • Purpose - This study empirically analyzes the consumer value of risk management associated with illegal, unreported, and unregulated (IUU) fishing of fishery products imported to Korea. The global regulatory paradigm for IUU fishing has shifted from production-centered to market-centered. As a result, changes in the international fisheries trade environment emphasizing "transparency" and "legality" of the production process are accelerating. Therefore, changes in the management systems of fishery products entering the country are also needed. Accordingly, this study estimated the consumer value for risk management of IUU fishing, targeting major fish species imported to Korea, and derived the feasibility of introducing related policies. Design/methodology - This study used the choice experiment as an analysis model to estimate consumers' willingness to pay for the "possibility to check for IUU fishing." The choice experiment assumes that the value of a good or service is composed of separable attributes and that the sum of the part-worth of these individual attributes becomes the total value. In this study, respondents were presented with profiles comprising three attributes (country of origin, price, and possibility of checking IUU fishing) and the levels of frozen poulp squid, the subject of the analysis. The participants were asked to select their preferred profile. The marginal willingness to pay for each attribute was derived from the results of the respondents' choices using conditional logit model estimates. Findings - There is a marked difference in utility based on the preference of the country of origin of fishery products among consumers. In addition, the utility of fishery products that have undergone IUU fishing verification was observed to be higher, with the utility marked to be higher for lower prices. Originality/value - Estimating the policy value of the risk management in IUU fishing of imported fisheries products in this study is a novel attempt that has never been conducted before. Several studies have been conducted to assess the risk of IUU fishing associated with the import of fishery products internationally. However, such studies are yet to be conducted in Korea. Instead, policies and studies have focused on issues related to complying with trading partners' legal and transparent standards for exporting fishery products. This study should be the beginning of more in-depth empirical and theoretical explorations to establish order in the domestic seafood market and respond to changes in international regulations on IUU fishing.

Business Model Change in Asset Management (금융자산 관리모델의 변화에 관한 연구)

  • Ryu, HyunWook
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.9
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    • pp.251-257
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    • 2017
  • Private banking, which is a part of the financial services industry, is an investment advisory business targeting high-net-worth individuals (HNWIs). The demand for asset management services, which isexpanding in the world market as well as in the Asia-Pacific region, is rapidly increasing in Korea as the low-growth, low-interest environment has stabilized. In Korea, the private banking business is ahead of growth, and the evaluation and compensation system of playing institutions remains a challenge. While the aging of the population increases the demand for services, the increasing competition and regulations have decreased the profit margins in the industry. In this paper, a business model is derived from a professional service quality model. Modular advisory services, value-proposition through sophisticated services, and investment expertise with increased clarity would help wealth management firms pursue their opportunities. By interviewing the experts of wealth management banks, this study constructsa business model with elements derived from a relevant literature review. The contribution of this research is to enable these institutions to understand the key factors affecting their financial performances, in order to improve them. This study is limited by one of the research models, and it will be necessary to conduct an empirical test in the future.

Analysis of Wedding Behavior of Chinese Women in their 20's to 30's in Shanghai and Neighboring Cities (중국 상해 및 상해 인근도시에 거주하는 20-30대 여성의 웨딩행동 분석)

  • Kim, Chil-Soon
    • Fashion & Textile Research Journal
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    • v.14 no.2
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    • pp.251-260
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    • 2012
  • Nowadays, global wedding dress companies are interested in the Chinese wedding market because of expectations in consumption patterns of the post 80's generation. Therefore, wedding behavior, selection criteria for wedding dresses, and favored image by segmented groups targeting 20's to 30's Chinese women were studied to help the Korean wedding dress industry to establish their business in China. The survey was conducted in Shanghai city and three neighboring cities-Wuxi, Zhengziang, and Hangzhou-, and the primary data were analyzed using the SPSS program. As results, Chinese women thought that the wedding ceremony should be elegant and dignified, and they wanted to choose their favorite style rather than a recommended style. The criteria of selection were classified into four factors. Overall image and well fitting with their face and body were the most important factors in the selection of wedding dress. The most favored image was unique/novel image. Several favored images for their wedding dress were significantly different by occasion (ceremony day and photo shoot day) and education level. People of higher education level preferred more luxurious and classic image during the ceremony, and a classic and gorgeous image on the photo shoot day. A white dress and a colored dress for weddings were favored more than the Chinese traditional dress on both occasions. There was also a significant difference between general consumers and the wedding business employees in the quantity of wanted wedding dress.